For over two years, we have been planning the initial public offering of the individual units. We’ve explored many methods of sale. It was determined that the auction process was fairest and most effective way to offer these units to both the current tenants and to the general public.
Mackinaw City, MI. (PRWEB) June 29, 2006
Higgenbotham Auctioneers International announced today that Mackinaw Crossings, a 52-unit boutique style shopping mall will be sold at auction on Monday, August 7th at 6:00 p.m.
Established in 1996, Mackinaw Crossings, with its shopping and entertainment venues has become the lynch-pin of Mackinaw City’s developmental success. The city, which had been known for decades only as a ferry debarkation point for Mackinac Island is now a summer hotspot for northern Michigan and boasts more than 2.7 million tourists annually.
Located in the heart of the city, Mackinaw Crossings is a unique outdoor shopping center comprised of 52 retail stores, an 830 seat live production theatre, and a 100+ year old train depot that has been restored and is currently in use as a full service restaurant.
According to Bill Shepler, a local businessman and co-owner of the Crossings, the complex was originally designed to be retail condominiums that were capable of individual ownership. “For over two years, we have been planning the initial public offering of the individual units. We’ve explored many methods of sale. It was determined that the auction process was fairest and most effective way to offer these units to both the current tenants and to the general public.”
“It’s not often we get to offer such a viable retail opportunity. The Crossings is a exceptional and attractive property,” stated John Haney, Auction Manager for Higgenbothan Auctioneers. “This IPO, has something for everyone from local and national investors to the current tenants; each will have an opportunity to own space in The Crossings.”
Founded in 1959, Higgenbotham Auctioneers International (HAI) utilizes the auction method of marketing to sell intellectual property and real estate throughout the United States and the world. Higgenbotham’s success is attributed to the company’s stellar track record in marketing unique properties and the firm enjoys continuing relationships with Fortune 500 clients such as Alcoa, Wal-Mart, and Albertson’s Supermarkets, as well as many other publicly traded and closely held companies.
For more information on Mackinaw Crossings or other Higgenbotham auctions please contact John Haney at Higgenbotham Auctioneers (800) 257-4161 or visit our website at http://www.Higgenbotham.com