Commercial Auction Listings

Determined to dispose of residual REO properties and close the books on the third quarter, Columbia Bank, a Pacific Northwest community bank, has employed the auction marketing experts at the LFC Group of Companies to sell over $17M worth of REO properties on the Freedom Realty Exchange (FRE.com) by September 1st.

Choosing this alternative and seemingly progressive marketing strategy could help the bank sell properties that have proven resistant to traditional sales methods.

“We had considered other sales approaches but chose the online auction format because it is perfectly suited for such a wide variety of real estate offerings across several counties and in two states,” stated Robert M. B. Draper, Senior Vice President for Columbia Bank. “It provides one easy, convenient hub for buyers.”

FRE.com, a leading real estate auction platform presents any type of buyer such as builders/developers, savvy or new real estate investors with an incredible opportunity to conveniently purchase property through a transparent, fair and open bidding platform.

“It’s been our experience that with properties such as these, an online auction strikes accord with buyers, both local and out of state,  by providing them equal  opportunity to get a great deal ”, said LFC’s Director of Operations Ryan Devin. “And with the aggressive minimum bids set by the bank, there are definitely deals to be had.

The bank-ordered auction offers a wide variety of real estate, over 20 properties, located throughout several counties in Washington and Oregon, including:

• Ninety-nine (99) finished multi-family development lots adjacent to the Sandpines Golf Course in Florence, Oregon have a minimum bid of $1.4MM – a fraction of the previous asking price of $3.0MM
• 11 subdivision development lots in Rockaway Beach, Oregon with a minimum bid of $99,000 – more than half of the last asking price
• Over 24 acres of residential development land in Renton, WA zoned for single family, multi-family or senior housing has been reduced by over 40% for a minimum bid of just $899,000
• ±22,000 retail center in Spokane, Washington with current tenants was listed at $1.1MM but not has a minimum bid of $599,000
• Restaurant and clubhouse adjacent to the Charbonneau Golf Course in Wilsonville, Oregon has a minimum bid of $299,000 more than 50% below the previous asking price of $700,000
• Residential lot in Pacific Rim Estates in the coastal Oregon town of Lincoln City has a minimum bid of $25,000
• ±33 acre Equestrian Ranch in Enumclaw, WA is asking for a minimum bid of just $399,000.
• Seattle, WA commercial building with an AT&T cell tower lease and income-producing outdoor billboard was on the market for nearly $4.0M now has a minimum bid of $2.5MM
• Small residential lot zoned for a 2-4 plex in Bend Park development in Bend, Oregon is asking for a $5,000 minimum bid
• “Buyers should recognize that the bank is serious about selling these properties as clearly demonstrated by the low minimum bids and the quick timeframe to sell and close escrow,” said Devin

As with all of auctions on the Freedom Realty Exchange website, the research, due diligence and even bidding are conducted completely online, removing the need to spend hours in a crowded ballroom with all the unwanted pressure and intimidation that comes with a traditional outcry auction. Interested buyers can view property documents and auction details by visiting FRE.com/109R2. Bids must be submitted by September 1st and properties must close escrow by September 30th.

The end of the year is always the busiest time for us, and this year has proved to be no exception. There are currently dozens of online auctions going on on LFC.com, including:

• Two contiguous ±12 acre parcels of vacant land in San Jose, California.
• A ±35,900 SF warehouse/industrial facility with a gravel yard, open floor plan and two private offices on ±8.44 acres in Oklahoma City, Oklahoma.
• A ±5,500 SF vacant office building in the College Park neighborhood of Orlando, Florida.
• A ±3 acre property in Williamstown, West Virginia consisting of two warehouses and a freestanding office building.
• Highlands Village, a proposed 79-lot residential subdivision in the popular northern California vacation destination of Clearlake.
• A diverse bank-owned land portfolio consisting of five sites throughout Wisconsin, ranging from improved condominium land in West Bend to ±103 acres of vacant land in Trenton.

LFC is venturing into the land of 10,000 lakes to auction +/-73 acres of bank-owned land in Bemidji, the largest city in northern Minnesota. Located on the western shore of Wolf Lake, this property is considered a great residential/resort development opportunity. This online auction has a minimum bid of $699,000, less than half the previous asking price. In addition, there are several other aspects of the property and the town that make this auction a must-see for developers.

The city of Bemidji is part of the Cass Lake Chain of Lakes and the first city on the Mississippi River. Famous for its renowned Walleye fishing and tales of Paul Bunyan, who made the town his “playground” (yes, the larger-than-life lumber jack who befriended a giant blue ox), Bemidji is also well known for its state university. The Canadian border and nearby Winnipeg are only a short drive from Bemidji, making it a desirable vacation getaway for those looking to escape Winnipeg’s city life and enjoy the endless outdoors activities surrounding the lakes.

The Bid Deadline for this auction is on April 8th, 2010, so I strongly recommend that you check out the online auction and all of the property details at LFC.com.

Want to know more about Bemidji or share in the conversation? You can follow us on Twitter at Twitter.com/LFC_Auction. You can also follow the Bemidji visitor information Twitter account @visitbemidji or the Bemidji State University Twitter @BSUNews.

Photo Credit: mod as hell @Flickr.com

LFC is currently auctioning two bank-owned parcels in the central California coast counties of Santa Barbara and San Louis Obispo. Although I was born and raised in Southern California, the central coast is definitely my favorite part of the state. Best known for its vineyards and country lifestyle, the central coast goes against the strain of the hustle and bustle of southern and northern California’s biggest cities. The countryside is much more open, the beaches more peaceful, and the people more laid back. I see it is a privilege for me to introduce each of theseexceptional properties and highlight their development opportunities for commercial and residential use.

The first of these properties is located in Los Alamos, only a few minutes south of Santa Barbara County’s largest city, Santa Maria. Los Alamos is a small town situated along California’s scenic 101 Freeway stretching from Downtown Los Angeles to the Oregon border. The parcel of land we are auctioning is situated in an established residential neighborhood and consists of three individual lots totaling approximately 0.60 acres.

The second bank-owned property is an 8,800 square foot commercial / residential development opportunity in Paso Robles. Paso Robles is San Luis Obispo County’s fastest growing city, boasting dozens of award-winning wineries (for up to date information on events and local news, follow @TravelPaso on Twitter). The bank-owned property we are auctioning comes with flexible zoning, allowing for the development of both professional offices and multi-family units.

The Bid Deadline for both of these properties is coming up on April 1st and all of the necessary photos and documents are available to download at our online auction market place, LFC.com.

Photo Credit: @travelpaso at Flickr.com

When companies send out press releases, they never know which direction journalists will take their story.

Our online auction of the former Elk Meadows Ski Resort in Beaver County, Utah has received a substantial amount of media coverage. This is probably due to the fact that mountains don’t get auctioned on the internet everyday. Needless to say, I have had a good time reading reporters’ different approaches to the story.

The ski community has been drooling over the idea of owning a ski resort in Central Utah. For instance, Kraig Becker of Glading.com wrote the Elk Meadows auction story as if he were letting wealthy skiers in on a Black Friday special . Websites like SkiNet.com even joked about having a private mountain just for subscribers.

No matter which trail the journalists chose, the auction of a mountain is interesting in itself and the Elk Meadows auction is coming to a close. To see the final bids or to actually take part in the fantasy of owning your own mountain, see the auction at LFC.com.

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

Elk Meadows

LFC is Auctioning A Mountain?

Yes, that is correct. We are pleased to announce the latest campaign on our commercial property auction website LFC.com: the former Elk Meadows Ski Resort in southwestern Utah’s Beaver County. The property, comprising more than 1,100 acres of beautiful recreational land, is surrounded by a half-dozen of Utah’s most renowned national parks, including Zion National Park, Bryce Canyon, Dixie National Forest and Fishlake National Forest. Elk Meadows is secluded yet accessible; the mountain is less than three hours from several of Utah’s major metropolitan areas, including St. George, Provo and Salt Lake City.

For 25 years, Elk Meadows was the secret getaway for skiers and snowboarders looking to escape the mammoth crowds of Salt Lake City and Park City in northern Utah. However, the mountain’s proximity to several national parks made it a popular destination during off-season, as well. In summer, guests enjoyed mountain biking, horseback riding, ATVing, fishing, hang gliding and more. Throughout the years, Elk Meadows was a popular destination for vacationers from southern Utah, southern California, Phoenix, Arizona and northern Nevada. In fact, Elk Meadows is less than a four hour drive from Las Vegas, Nevada.

It’s not everyday that one can just go out and buy a mountain on the internet. Check out the auction and more of its details on this truly unique commercial real estate auction at LFC.com/L1.

Give us a shout: What would you do with your own mountain?

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

We are currently hosting an auction consisting of +/- 89 acres of development land in Pixley, CA.

A little bit about Pixley: The quaint town of Pixley, in Tulare County, is centrally located in California’s Central Valley. Pixley is just 25 miles away from the county seat of Visalia, widely renowned as the economic center of the Sequoia Valley region, the most productive single agricultural area in the country. Bustling Bakersfield is less than 50 miles away, while the drive to Los Angeles takes less than three hours. Tulare County itself is home to many natural wonders, including Sequoia National Park and parts of Kings Canyon National Park.

This land parcel has plenty of potential from residential development to farming. Although the entitlement process was started there is not an approved tentative map.

Feel free to check out the online auction for more photos and information at LFC.com before the bid deadline on 12/10/2009.

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

Colorado Industrial Warehouse For Sale

LFC Auction #647-1 | Fort Morgan, CO

Property Details:

Size: 3.1 acres
Location: Fort Morgan, Colorado
Minimum Bid: $650,000

This 44,000+/- sq. ft. industrial building on 3.1+ acres is ideal for storage, distribution and manufacturing. Zoning is flexible, building costs are low and the labor force is most reasonably priced. In addition, Morgan County has been designated an Enterprise Zone.

Located ¼ mile from the Long Bridge Road exit off Interstate 76 (Exit 73), this facility is just one hour from Denver International Airport. The proximity to I-76 provides excellent sign visibility to traffic.

Constructed of steel and concrete in 1995 and expanded in 1998, the facility has four dock-high doors, 2 drive-in doors, clear ceiling heights of 16 feet at the sidewall and 22 feet at the center, a finished office area of 700 sq. ft. and fenced outside storage/parking. All utilities are currently supplied to the building, including 200-amp, 480-volt power, as well as 3″ water pipes to the property, 2″ pipes on the property and 1″ pipes to the building. Both power and water capability could easily be increased. The facility is equipped with 8 phone lines.

View Full Property Details: Colorado Commercial Warehouse For Sale

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Columbus Ohio Commercial Buildings For Sale

LFC Auction #751-1 | 4000 W. Broad Street, Columbus, OH

Property Details:

Size: 70,942 / 8.96 acres
Location: Columbus, Ohio
Minimum Bid: $599,000

This 35,471 square foot facility is comprised of 3 buildings, a 19,622 SF showroom built in 1971, a 1,449 SF used car building built in 1984 and a 14,400 SF body shop built in 1994. The site consists of approximately 8.96 acres. The entire site is paved with asphalt and the property is zoned “Community Service” (CS) with a variety of uses.

View Full Property Details: Columbus Ohio Commercial Buildings For Sale

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Pismo Beach California Commercial Land For Sale

Property #764-1 | 360 Park Avenue, Pismo Beach

Property Details:

Size: 1 acres
Location: Pismo Beach California
Suggested Value: $2,400,000
Minimum Bid: $799,000

This BANK-OWNED, +/-.6 acre parcel of vacant land in beautiful Pismo Beach, CA is FULLY ENTITLED for 14 condos. The property is just minutes from the ocean, ready to pull permits and ready to build. Opportunities to buy PRIME development land at auction prices do not come along often. Take advantage and register today!

The land is 0.2 miles, just blocks, from the beach, backed by a river, adjacent to the Ira Lease Park, and 1.3 miles from popular shopping, Prime Outlets. It is also easily accessible via the 101 Freeway. Don’t miss your chance to own and develop highly sought-after beach real estate at a price you determine!

View Full Property Details: Pismo California Commercial Land For Sale