The history of this building is intriguing, but it’s the investment opportunity that is most compelling to buyers.
Benicia, California (PRWEB) June 16, 2014
Built in the 1940s, the historic office building located at 1350 Hayes Street in Benicia, a water’s edge town in the San Francisco Bay area, is the focus of many interested buyers in an online auction. The newest property featured on LFC’s real estate auction website, Freedom Realty Exchange (FRE.com), has already garnered significant buyer interest.
Before the area was revitalized into a vibrant cultural district for artists and a popular visitor destination, the Benicia Arsenal was the primary U.S. Army Ordnance for the West Coast of the United States for over 100 years. It was the staging area during the Civil War for Union troops and later became the main West Coast administrative headquarters for the U.S. Navy before it was deactivated as a military installation in 1963. Now this scenic waterfront area, so rich in history, offers an internationally recognized arts district, top-notch shopping and dining, and a thriving business community.
“The history of this building, with its beautiful Spanish architecture, is intriguing, but it’s the investment opportunity that is most compelling to buyers,” states Kelly Lovegrove, director of marketing for the auction company. “A property such as this one, almost fully leased in a desirable location, is a prime candidate for an online auction that will attract buyers globally and provide a convenient platform for them to participate in the bidding.”
- ±22,000 square foot building on approx. 1.5 acres
- Convenient access to major highways – I-780, I-680, I-80
- Suites ranging from 108 SF to 2,200 SF
- 95% leased and occupied
- 16.5% Cap Rate (based upon minimum bid)
- One mile from downtown Benicia, less than 15 miles from Walnut Creek, and less than 40 miles from San Francisco
- Minimum bid $899,000
- Bid deadline July 31, 2014
Specific property documents, additional photos and auction information such as terms and conditions of sale can be downloaded by visiting the auction property page on FRE.com.
LFC Group of Companies
For more than three decades, the LFC Group of Companies has been a leader in the real estate auction industry, beginning with the traditional, outcry auction events and pioneering the transition to 100% online auctions. Working with clients across the globe such as real estate developers, financial institutions, community and investment banks, private investors, private equity funds and government agencies, the LFC Group of Companies has sold billions of dollars’ worth of real estate by providing a complete suite of real estate disposition strategies and auction marketing programs. The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies.