Grubb & Ellis, Lee & Associates To Use AuctionPoint

Posted by Orb Staff on November 20, 2009 No Comments
Categories : Commercial Mortgage

Brokerage firms Grubb & Ellis and Lee & Associates have signed on to use the AuctionPoint online auction platform to sell commercial real estate.

Lee & Associates is going live with an auction of a $2.49 million office building in Santa Ana, Calif., on Dec. 3.

‘Recent auctions using the platform have gotten buyers off of the sidelines, achieved full market value and, most importantly, generated a sale in weeks, rather than months,’ says David Newton, a principal with the broker's Anaheim, Calif., outfit.

Grubb & Ellis brokers are using the platform to sell office and land properties, says Bob Davis, a senior vice president at the company's Newport Beach office, adding that the process of setting up auctions has been simple. AuctionPoint markets its platform as a broker-friendly approach.

"And with complete visibility into registration and bidder qualification, I can very effectively market and manage the auction," Davis says.

SOURCE: AuctionPoint

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