More than $50 million of prime commercial real estate will be sold November 16 during a Southeast Texas Commercial Multi-Property auction in Houston, Texas. Colliers International and United Country Auction Services announced today that the auction will offer 29 commercial properties including office and industrial buildings, an apartment complex and prime commercial sites, located in southeast Texas.
“The commercial real estate market is in transition and by many measures, an unprecedented market adjustment has begun,” said Patrick Duffy, president, Colliers International — Houston. “In response to the current needs of our clients, Colliers International and United Country Auction Services have partnered to deliver Accelerated Real Estate Resolution Services (ARERS) to provide clients with a blended method of marketing and asset disposition.”
This multi-property auction event includes a diverse portfolio of properties located in high-demand submarkets of Houston, many offered for the first time and several with seller financing options available, from the six-story South Main/Medical Center Class B atrium style office building located on the I-610 Loop in Houston to 10.28 +/- acres of development land near I-610 and SH-288.
“This event provides an amazing business opportunity for investors to expand their portfolios with prime properties at favorable prices during this unique commercial real estate market. Offering properties through an auction event provides expedience, effectiveness and the ability to achieve a transparent price through competitive bidding. In fact, more than $15.5 billion of industrial and commercial real estate was sold via the auction method of marketing in 2008,” said Mike Jones, president, United Country Auction Services.
The Southeast Texas Commercial Multi-Property Auction will be held November 16 at the Four Oaks Place Conference Center and Auditorium at 1330 Post Oak Blvd. in Houston, Texas. Registration will begin at 9 a.m. and the auction will take place at 11 a.m. Online bidding will be provided through Proxibid (www.proxibid.com/jonesswenson). Property details and terms and conditions can be found at www.UCAuctionServices.com or by calling 713-830-2112.
