Creating an Auction Venue this geographically diverse was important to our sellers who want to attract bidders and buyers from throughout the Midwest and the U.S.
Cleveland, OH (PRWEB) October 8, 2008
Many Sellers and Buyers procrastinate until the 4th quarter of the year to decide whether to sell or buy commercial real estate assets. The October 28, 2008, 1:00 P.M. Chartwell Group Real Estate Auction has something for almost every type of investor or property owner who may have waited until the end of the Year 2008 to buy or sell. The auction offering will be at the Crowne Plaza Hotel in Middleburg Hts., OH, at 7230 Engle Road, just south of Hopkins International Airport. Property Owners from the States of Georgia, Texas, New York, Michigan, & Ohio will be offering their assets.
The 34 Ohio Properties are located in the Northeast Ohio Counties of Cuyahoga, Summit, Medina, Lake, Lorain, & Ashtabula; North Central County of Richland (Mansfield); and the Southwest Ohio County of Wood (Suburban Cincinnati). The 35th Property is located in Northeast Indiana, Allen County, City of Ft. Wayne.
"Creating an Auction Venue this geographically diverse was important to our sellers who want to attract bidders and buyers from throughout the Midwest and the U.S.," said Mike Berland, Auctioneer with Chartwell Auctions. "The commercial property types being sold on October 28 include Hotels; an Apartment Building; Former Bank Branches; a Gas Station; Shopping Centers; an Office Building; Two Hotels; and a number of Business Park Land Sites. There is literally something for every type of Commercial Real Estate Buyer," said Berland. "Two of the properties are offered, Absolute and Regardless of Price and many others have Published Reserve Prices at 55% to 82% discounts from original pricing. A Published Reserve Price obligates the owners to sell that asset at any bid at or above the reserve number. The bidders know these are guaranteed sales."
Among the properties being offered are the following:
1. 162-176 Chestnut St., Painesville, OH, a 50,000 SF well-leased Commercial/Industrial Building with a Reserve Price of $250,000.
2. 1623 Mentor Ave., Painesville, OH, a 56,000 SF Shopping Center, originally priced at $2,000,000, now with a Reserve Price of $475,000.
3. 141 2nd St., Mansfield, OH, a 34-Unit Apartment Building with a Reserve Price of $375,000.
4. 220 State St., Conneaut, OH, a Gas Station in current operation with a Reserve Price of $435,000.
5. 3101 Euclid Ave., Cleveland, OH, a 100,000 SF 8-Story Office Building on the recently re-opened Euclid Corridor plus 200-Car Parking Garage with a Suggested Opening bid of $265,000 and built-in Seller-Financing.
6. 1121 Tower Blvd., Lorain, OH, a 43,000 SF former YMCA on 4.5 Acres, originally priced at $1,200,000, now with a Reserve Price of $150,000.
7. 265 Washington Ave., Elyria, OH, a 34,000 SF former YMCA on 1.63 Acres with a
Reserve Price of $150,000.
8. 13169 Smith Rd., Middleburg Hts., OH, a 21,000 SF former YWCA on 4.46 Acres, originally priced at $1,200,000, now with a Reserve Price of $300,000.
9. 229 Main St., Conneaut, OH, an 7,992 SF former Bank Branch, offered Absolute and Regardless of Price with a Suggested Opening Bid of $35,000.
10. 4148 Main St., Ashtabula, OH, an 8,295 SF former Bank Branch, offered Absolute and Regardless of Price with a Suggested Opening Bid of $60,000.
11. 92 31st Street, Barberton, OH, a 20,000 SF Commercial Building on 3.33 Acres with a Reserve price of $475,000.
12. 3527 W. Coliseum Blvd., Ft. Wayne, Indiana, a former 120-Room Howard Johnson Hotel with a Reserve Price of $495,000.
13. 3484 Hanley Rd., Perrysburg (Toledo), OH, the 83-Room Vista Hotel in current operation with a Suggested Opening Bid of $685,000.
14. Northwest Commerce Center at Hamilton Ave. & Northwest Drive, Springfield (Suburban Cincinnati), OH, a 46-Acre Site, Zoned Light Industrial, with a Reserve Price of $650,000.
15. Beacon Marshall Development Office, Commercial & Business Parks in Three Locations, all with Reserve Price Discounts from 60% to 70%.
A. Beacon West Commerce Park, Westlake, Cuyahoga County, OH at Bradley & Clemens Roads. Seven Land Sites from 1.698-Acres to 10.605-Acres.
B. Beacon Timberlake Commerce Park, Richfield, Summit County, OH at Brecksville Road, ½ mile North of Wheatley Road & I-271. Seven Land Sites from 3.010-Acres to 7.959-Acres.
C. Beacon South Commerce Park and Foreign Trade Zone, Seville, Medina County, OH on Route 3 (Wooster Pike), ¼ mile south of Exit 2 of I-76. Five Land Sites from 1.855-Acres to 9.320-Acres. The 6th Site is 25.729-Acres just North & West of the Beacon South Park and has over 2,800 Feet of Frontage on Interstates 71 & 76. The 7th Site is 14.660Acres on Wooster Pike about 3 miles North of I-76 near Poe Road.
For a free color brochure on the October 28th, Real Estate Auction with terms of sale, on-site inspection dates and times, and locations of all properties call Chartwell Auctions and Chartwell Group at 216-360-0009. Who wants to pay retail when they can buy real estate on a wholesale basis at real estate auction?
TCN / Chartwell Group
1301 E. Ninth Street, Suite 2210
Cleveland, Ohio 44114
Telephone: 216-360-0009 / Fax: 216-360-0395
Commercial Real Estate Brokers
Accelerated Real Estate Marketing
Mike Berland, V.P.
Gordon J. Greene, CCIM