Ritchie Bros. Auctioneers to sell former Lakeville property during unreserved Medford auction

. September 24, 2009

Ritchie Bros. Auctioneers , the world’s largest industrial auctioneer will be selling its former 29+/–acre auction site in Lakeville, Minnesota to the highest bidder at an unreserved public auction being held at the Company’s new, larger permanent auction site in Medford (Minneapolis, Minnesota) on Tuesday, September 29. The auction starts at 8:00 a.m.

“Our auction on September 29th will be a fantastic opportunity for buyers interested in purchasing prime industrial and commercial real estate near the Twin Cities and do so at a fair market value,” said Andy Artley, Regional Manager, Ritchie Bros. Auctioneers. “We stand behind our unreserved auction method of selling both equipment and real estate because the buyer always sets the final price on a piece of equipment, a building, or a parcel of land on auction day through the competitive bidding process. It’s a fair process and good for both the buyer and the seller.”

Ritchie Bros. Auctioneers conducted unreserved industrial auctions at its former Lakeville property from 1991 until moving to its 120+/–acre Medford, MN location in March of this year. The 29+/–acre site in Lakeville, which has been graded, gravelled and enclosed by a chain-link fence, is located at 22050 Pillsbury Avenue (County Road 46) in Lakeville. The property has highway exposure to Interstate 35 and has a 12,000 square-foot, two-story office and warehouse building on it. The office-warehouse building, constructed in 1991, has an 18-foot clear ceiling height and approximately 7,000 square feet of finished office space on two floors. The building is wood frame construction with ribbed metal cladding.

More than 650 construction, agricultural and transportation equipment items will also be sold in the unreserved auction on September 29th. Equipment being sold in the auction includes: compactors, crawler, hydraulic truck and rough terrain cranes, crawler tractors, loader backhoes, excavators, forklifts, skid steer loaders, wheel loaders, trucks, and various trailers. Everything in the auction will be sold to the highest bidders on auction day, with no minimum bids or reserve prices.

More information about the Lakeville property, including photos, and information about the area and how to register and participate in the unreserved auction, can be found at

http://www.rbauction.com/property/2009000_minneapolis_mn/index.jsp or by contacting Steve Speer at +1.612.518.0095 or sspeer@rbauction.com.

Minneapolis Auction details: —————————- – Location: Ritchie Bros. Auctioneers permanent Medford auction site at 6000 Frontage Rd W., Medford, MN – Auction site phone: +1.507.774.5050. Auction site fax: +1.507.774.5060 – Time and date: Tuesday, September 29, 2009 starting at 8:00 a.m. – Open to the public; registration to bid is free – Visit the auction site to register to bid in person; photo I.D. is required. First-time bidders from the U.S. and Canada must place a refundable US$1,000 deposit when they register. Customers can inspect equipment during regular business hours leading up to the auction – Internet bidders must register online before auction day at www.rbauction.com; at least 2-3 business days is recommended for first-time internet bidders. – Phone the auction site to place a proxy bid at +1.507.774.5050. – Equipment details, including photos, are available at www.rbauction.com

Category: Auction News

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