Newmark launches multi-state property auctions

Newmark Knight Frank is placing 25 industrial, warehouse, commercial and open land properties up for auction, beginning Dec. 15 and 16, on behalf of an unnamed, post-bankruptcy client, according to a press release. Auction company Tranzon Integrated Property Group will be overseeing the sales. The properties, which will be auctioned off incrementally as part of the seller’s liquidation plan, span 14 different states. Randall Liberman, associate director at Newmark Knight Frank, said that he expects the auctions will appeal to buyers looking for larger properties. “We have a broad platform that enables us to reach out to local users, as well as larger investors and development groups that are particularly focused on the acquisition of sites that can be repositioned,” Liberman said. The first round of auctions will include six properties in the southeast, including Maryland, North Carolina, South Carolina and Georgia. The next round of auctions will begin in January 2010 and will include properties in Florida. TRD

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