Marquee Michigan Avenue Parking Spaces - Chicago, Illinois
This unique event showcased the creative ways auctions can be used. Here, the auction process was utilized to distribute parking spaces to the highest bidding residents of the Marquee Michigan Avenue development in Chicago. The auction featured 240 spaces available ONLY to residents, and commanded an intense bidding war, with residents clamoring to claim the best parking spaces being offered. In a city where parking comes at a premium, the online auction proved the best - and fairest - way to dole out such a hot commodity.
Adelphia - Buildings and Development Land - PA, CT, AL, KY, WV, NY and CA
After the discovery of a few more residential and commercial buildings as well as land parcels in addition to those properties previously auction marketed by FRE, Adelphia contracted FRE to launch another online auction marketing campaign. Like its predecessor, this auction also garnered plenty of interest from international buyers and local buyers alike. The properties were sold individually after aggressive bidding that lasted 14 days.
The Offices @ NuRiver Landing - Fort Lauderdale, Florida
Located in the famed NuRiver Landing area of Fort Lauderdale, Florida, these office condos featured amenities such as a roof top pool and spa, and panoramic views of the ocean, riverfront, park and city lights. Also included was a two-story state-of-the-art fitness center with indoor racquet and basketball courts, cardiovascular equipment and his & hers steam, sauna and lockers. Due to favorable market conditions, the FRE website received over 10 thousand “hits” during the 45 day marketing campaign. When demand exceeds supply, auctions provide a superior marketing approach; permitting bidders to continue bidding in a fair, transparent, manner until they “win” the property.
Elk Meadows Ski Resort - +/-1,138 Acres - Beaver County, Utah
FRE's online auction campaign yielded several days of competitive bidding, increasing the final sales price by nearly 60% above the minimum bid. Less than a week after the notable online auction ended, the former Elk Meadows Ski Resort in Beaver County, Utah, closed escrow.
Portfolio of Properties in Minnesota
This auction was for a large portfolio of nearly 80 bank-owned commercial and residential properties located throughout the Twin Cities area of Minnesota. The REO auction was the first of it's kind in the state of Minnesota, and FRE's public relations efforts yielded substantial coverage in local and regional press, bringing in thousands of interested buyers over the course of the campaign.
Portfolio of Properties in Wisconsin & Florida
This bank ordered auction consisted of over 30 individual assets throughout Wisconsin and Florida. After thousands of visits to the auction website, FRE was able to bring strong buyers to the table for successful closings to meet the bank's deadline. This auction incorporated a full national advertising campaign bringing buyers from all over to participate in the auction.
NNN Lease - 6,200 SF Commercial Building, along I-15 in Victorville, California
NNN lease opportunity for Case ‘N Cleaver restaurant located in Victorville, CA. The auction provided bidders the opportunity to place bids while simultaneously viewing in real time, the effect each bid had on the capitalization rate.
Commercial Portfolio in Missouri, Iowa, and Kansas
In challenging markets such as Missouri, Iowa, and Kansas, this seller turned to the Freedom Realty Exchange to auction 3 commercial assets. Through extensive marketing and outreach, the auction was successful at driving almost 1,100 interested parties to the auction webpage by creating urgency.
Portfolio of Properties in Tennessee
This bank-ordered auction featured commercial and residential properties in the Nashville area. This auction brought then entire market to the table. Through successful advertising and effective exposure, the auction drove over 2,000 unique prospects to the auction website.
Portfolio of Properties in Pacific Northwest
This auction included a portfolio of 24 properties spread across Washington and Oregon. The group consisted of commercial/retail buildings, restaurants, finished residential lots, and commercial development sites. An aggressive nationwide marketing campaign provided multiple bidders, some of which closed “all cash” in as little as five days after Last Call® bidding ended. This auction was able meet the seller’s primary requirement which was to close all sales prior to year-end.
Office Building in Lauderdale Lakes, Florida
NNN - 10,285 SF commercial building with One United Bank as a NNN tenant. The auction provided investors with the ability to view all documents online and place their bids from anywhere in the world. FRE innovative cap rate monitor allowed all bidders, including the winning bidder from Mexico City, to view in real time the effect that each bid had on the capitalization rate.
Former Kroger Logistic/Distribution Facility in Colorado
A well know private equity fund selected FRE to auction market this 253,000 SF former Kroger logistics facility located in Colorado City, Colorado. A comprehensive local, regional and national marketing campaign generated 1,119 “clicks” or page views and 29 qualified prospects. During this 45 day marketing campaign, the winning bidder placed a total of 13 bids in his quest to purchase the property.
Portfolio of Properties in South Carolina
This bank-owned portfolio consisted of commercial condominiums as well as residential and commercial development land located in Jasper and Beaufort County, South Carolina. Even though local commercial and residential markets were depressed, FRE’s targeted marketing campaign brought quite a few qualified prospects to the website, which resulted in another successful auction.
Portfolio of Properties in Montana, North Carolina, Arizona, and Colorado
Seven (7) bank-owned properties (residential, commercial/industrial and retail) located in several states were available for sale in this exciting auction. There were nearly 10,000 page views, which yielded 180 registered prospects. At the end of the 45-day online auction campaign, some high bids were accepted and escrows were subsequently closed in less than 30 days.
Florida Industrial Building
This particular portfolio including two properties located in Florida: one a light industrial warehouse building in DeLand and the other a partially leased retail center in Fernandina Beach. The third property, a two-story office building, was located just outside Farmington Hills in Michigan. During the extensive advertising campaign, the property pages for these properties on FRE.com received nearly 2,900 hits and 84 registered prospects. The high number of interested buyers was attributed to the appeal of the low minimum bids. At the initial bid deadline, each property received bids and ultimately closed to meet the Seller's time frames.
Portfolio of Properties in Arizona
This recent auction consisted of 3 bank- owned properties located in Phoenix and Dewey, Arizona. The small portfolio consisted of a small development parcel as well as two commercial buildings. After extensive marketing efforts, more than 2,100 individuals visited our website, which resulting in successful sales for the bank. Escrows were closed in less than 30 days.
Florida Land and Illinois Industrial Building
This bank ordered sale was for two different assets, one located in Bloomington, IL and the other in Cape Coral, FL. The bank was motivated to sell these assets and the marketing efforts reflected that message which brought in over 2,400 visits to the auction webpage. With the efforts of closing department, the sale was successfully closed in order to meet the bank's requirements.
Fully Leased NNN Commercial Building in Rio Rancho, New Mexico
This auction was for a fully leased NNN commercial building in Rio Rancho, NM. The low minimum bid and aggressive time frame drew many potential buyers to the FRE auction website. Ultimately over 2,000 individuals visited the website in order to review property specific documents and due diligence materials. FRE’s proprietary bidding format, allowed investors to view the bidding effect in relation to the Cap Rate after each bid is placed.
Commercial Property in Las Vegas, Nevada
This auction marketing campaign featured 23,000 SF mixed use commercial building located in Las Vegas, NV. This campaign brought in investors and users from throughout the USA, Canada and Mexico due to the property’s close proximity to the Las Vegas International Airport.
Mixed Use Building in Downtown Vallejo, California
This bank owned property was an asset that was held by the bank for a very long time. After exhausting all marketing efforts to sell the property traditionally, the lender turned to FRE to sell the asset. During the auction campaign, the property saw over 1,200 unique visits to the auction page with over 30 individuals registering to bid. At the conclusion of the auction, the successful bidder was identified and the transaction was closed to meet the bank's timeline.
Aberdeen, Washington - Multifamily Investment Property
This auction was for 26-unit multi-family apartment building located near downtown Aberdeen, Washington. Aggressively working the database of 62 registered prospects compiled over the 45-day campaign, the FRE auction team received multiple bids and at the end of the day, the Seller accepted the highest bid and opened escrow on this challenging, partially leased property.
Portfolio of Properties in Kansas
This online auction was for select bank-owned residential and commercial inventory located in the state of Kansas. The auction marketing campaign achieved great success and at the end of the day, the majority of the properties were sold and all escrows were closed in about 30 days. Once again, another successful auction was achieved due to the combined efforts of the FRE operations team and Republic Escrow Corporation, the designated escrow holder.
Commercial/Retail Development Site - Antigo, Wisconsin
After two years on the market and no sale; this former lumberyard proved to be a difficult property to attract buyer interest and the broker needed something more than the usual marketing campaign. Consisting of a ± 4.10 acre corner lot with six outbuildings, the site is centered in the middle of an up and coming retail district and ideal for redevelopment. On-site signage was constructed because of the location and visibility of the property, along with an advertising campaign that comprised of an extensive email campaign through various broker/investor channels and local print advertising. The level of buyer interest far surpassed previous marketing efforts proving that an online auction can effectively attract buyers.
Bankruptcy Auction of Adelphia Communications - Residential, Commercial and Land
This successful auction featured residential and commercial land parcels consisting of 1/3 acre to more than 40 acres. Residential parcels offered varied topography, terrain and amenities that included: pasture lands, valleys, streams, meadows, brushlands, woodlands, mountain tops, ocean views, hunting, fishing, hiking, snowmobiling and cross country skiing.
The Former Adelphia Headquarters Building - Coudersport, Pennsylvania
This beautiful Class A office building located in Coudersport, PA, was the former corporate headquarters for Adelphia Communications. With more than 72,000 SF of unparalleled craftsmanship featuring an exterior of polished granite and colossal granite pillars marking your arrival to corporate opulence. Interiors paneled with American cherry wood paneling and doors as well as heated sidewalks and entry stairs. The marketing campaign for this remarkable property brought in bidders from across the U.S. and as far away as Dublin, Ireland. Spirited bidding exceeded the seller’s expectations.
HMB Auktionen - Eastern Germany Portfolio of Properties
This auction was for a large portfolio of properties located throughout Eastern Germany. These properties consisted of apartments, holiday resorts, leased office buildings, as well as large industrial complexes. Through a worldwide advertising campaign, over 20,000 visitors came to this event to learn more about the portfolio. At the conclusion of the auction over 115 individuals registered to bid. This auction went into almost 3 weeks of day to day last call bidding allowing the seller to capitalize on the true market value for these challenging assets.
Corporate Suite in the Burj Khalifa, Dubai
Developed by Emaar Properties, one of the world’s largest and most respected property developers, the Burj Khalifa Tower is located in the heart of vibrant downtown Dubai, United Arab Emirates. Standing more than 828 meters (2,716 ft.) with 160 stories, it is truly an architectural marvel and easily the world’s tallest building. The prestigious address is home to the elegant Armani Hotel, 144 Armani signature residences, more than 900 studio residences and 37 office floors. The surrounding area of downtown Dubai is home to unparalleled shopping and entertainment, including Souk Al Bahar, Gold Souk, Dubai Fountain, art galleries and the world-famous Dubai Mall, complete with indoor ski hill, 10-story aquarium, theme park and Cineplex.
LFC auction marketed the entire 117th floor in this iconic building, which included 1.047 m2 (11,269 sq. ft.) of corporate office space with stunning 360° panoramic views. LFC’s international marketing and public relations campaign generated over 17,000 views, hundreds of prospect registrations and spirited bidding by multiple bidders located throughout the world, LFC’s Burj Khalifa auction marketing campaign was truly a one-of-a-kind event.
Tulare Honda Dealership - California
This bank-owned property had previously been a car dealership prior to this successful auction. The property was marketed across the country and gained a tremendous response. After almost two weeks of competitive bidding, a winner was declared and successfully closed the property.
Manufacturing Facility on 21.5 Acres in Roswell, New Mexico
In this auction, a ± 103,774 square foot former manufacturing facility on ± 21.50 acres of land in Roswell, New Mexico, was offered and successfully sold to a local buyer due to the combined efforts of FRE’s highly trained, professional staff, targeted marketing, and sophisticated Internet auction technology.
Senior Living Apartments in Two Rivers, Wisconsin
This bank ordered auction brought the velocity to an otherwise stagnant market for this senior apartment community. After an aggressive 45 day marketing campaign, the property held the spot as the most viewed property for sale in the state of Wisconsin. When the bid deadline came, multiple bidders stepped up to place their bid for this asset. Ultimately, a winning bidder was declared and the property successfully closed 30 days later achieving the bank's closing requirements.
±127,746 SF Multi-Tenant Office Building in Southfield, Michigan
This auction was for two mid rise office buildings outside of downtown Detroit, MI. Extensive advertising exposed this asset to the market and brought the interested parties to the auction. Ultimately, the successful buyer was identified, and closed the transaction within 2 weeks allowing the seller to exceed their financial goals for the disposition of this asset.
Retail Center in Cincinnati, Ohio
Summerside Center, a multi-tenant, partially leased shopping center in Cincinnati, OH had been on the market for a considerable amount of time when the seller realized that an auction was most likely the best way to find a buyer. The combination of signage and an extensive web banner campaign on Cincinnati.com delivered over 4000 hits to the property webpage and 21 registered prospects. The property never had so much interest and the seller was thoroughly impressed with the effectiveness of the auction campaign to generate qualified prospects.
Former Car and RV Dealership - Chowchilla, California
This auction was for a former Ford/RV dealership property located in Chowchilla, California. Colliers International’s Fresno, office had worked the listing of this seriously challenged property for almost 3 years without success. During the subsequent 45-day auction marketing campaign, we received 3,684 unique website “clicks,” 42 prospect registrations and 3 sealed bids accompanied by wire transferred bid deposits.The highest sealed bid received was in the amount of US$1,250,100 from a buyer located in Mexico City. The “all cash” closing took place less than 30 days later.
Texas Warehouse/Showroom & Development Land
This auction featured a 6 acre parcel of commercial development land in Edinburg, TX, close to the US/Mexico border. The seller was very motivated and agreed to set a very low minimum bid in the interest of attracting potential buyers and allowing them to determine the market value through FRE’s competitive bidding process. The advertising campaign achieved high click-through rates including 14 registered bidders who competed for the property. The auction ended with a final high bid that far exceeded the seller’s expectations and the sale closed all cash in 30 days.
Data Center Building, Long Beach, California
For more than two years, this ±20,000 SF former telephone switching station in Long Beach, CA languished on the market until the co-brokers from prominent brokerages, turned to LFC and their auction marketing program. The seller advanced a modest advertising budget and 45 days later, after showing the property numerous times, the sealed bids submitted were not acceptable to the sellers and LFC suggested that we “roll” the campaign. The second time around, the property showed several times - the end result was the same. LFC didn’t give up and proposed changing the format to a “no reserve” with a higher minimum bid. The third time was a charm. An owner/user buyer’s bid was accepted and closed “all cash” in 30 days.
Hostess Brands HQ Building in Missouri and Former Bakery Outlets in Virginia, Indiana & Ohio
While pulling off “The Sweetest Comeback in the History of Ever”™, Hostess Brands had been occupying a ±40,450 SF building in Kansas City, MO as its corporate headquarters until locating to permanent headquarters building. The property was on the market for more than a year and with no certainty of a sale, it became evident to the company that an online auction could attract attention from a larger group of potential buyers and set a timeframe for the sale. The high profile advertising and PR campaign resulted in nearly 7,000 hits to the webpage and over 60 registered prospects. After the winning bid was accepted by the seller, the Hostess Brands building closed in 30 days. Other Hostess Brands properties available in the auction were former Bakery Outlets in Hampton, Virginia; Tallmadge, Ohio and Indianapolis, Indiana. None of these properties were in good condition, each in various states of distress and located in impacted markets. On-site signage and support from the local brokers concluded in successful sales of each property. The successful auction marketing of this portfolio clearly demonstrates the effectiveness of the LFC auction marketing program to deliver extraordinary results for all types of real estate.
Automotive/Retail Development Site - Columbus, Ohio
LFC conducted an online auction for a large automobile facility that was comprised of three buildings: a +/-19,622 SF showroom, a +/-1,449 SF used car structure, and a +/-14,400 SF body shop. LFC successfully closed the sale after an extensive auction marketing campaign and 22 days of highly competitive, day-to-day Last Call bidding.
Wisconsin and Utah Manufacturing Facilities
A well-known U.S. manufacturer of replacement windows and doors selected FRE to auction market three of its former manufacturing facilities located in Utah and Wisconsin. Aggressive targeted marketing to local owners/investors and major logistics and manufacturing firms looking to relocate or open additional facilities, generated nearly 100 qualified prospects which resulted in multiple bids on each of the properties. Large properties such as these require a specific buyer. Auctions provide more opportunities to reach these buyers and stimulate them to get involved or miss the opportunity.
Industrial Buildings and Land - Michigan, South Carolina & Germany
Online auctions are uniquely suited for portfolios of properties located in different states and countries. This event included industrial buildings in Michigan and Germany as well as 26 acres of land in Greenwood, South Carolina. A global marketing campaign attracted thousands of interested prospects resulting in the sale of all properties.
5-Story Office Building in Painesville, Ohio
This property, like many other similar properties in the immediate area, had been on the market for years when LFC was selected to auction market it. The client gave us two primary goals: market and close the sale in a 60-day timeframe and maximize the property’s value. After extensive worldwide exposure, multiple bidders were identified and bids were placed. The seller elected to open up Last Call bidding due to the similar nature of the bids. Last Call continued for 7 days of day-to-day bidding and then transitioned into 15 hours of hour-to-hour bidding, allowing for a maximum return to the seller. Last Call generated an additional 56% in revenue that would have been left in the market if any other auction format had been used.
CLIENTS & BROKERS WE’VE WORKED WITH
We’ve successfully auction marketed and sold real estate for large financial institutions,
government agencies, international brokerages, builders/developers and private sellers across the globe.