The property is primarily comprised of 1,249± acres of productive, tillable farmland with the balance in recreational timber. It includes several country homes with outbuildings and grain storage.
“Our ability to use a simultaneous online and live format made this auction a great success,” said Nofziger. “To have almost 100 bids placed during the online-only portion of the auction and 200+ bids placed during the live auction is a pretty remarkable feat that exceeded everyone’s expectations.”
EDINA, Mo. (PRWEB) February 02, 2021
A 1,471± acre property with multiple homes in Knox and Mason County, Missouri sold at auction for $7,560,000, an average of $5,139 per acre. The auction had 70 registered bidders from 12 states. Online bidding opened several days prior to the live auction event, and more than 300 bids were placed by the end of the live auction on January 26th. The property, offered in eight different tracts ranging from three to 300+ acres, was ultimately acquired by five different buyers. The auction was co-managed and marketed by Ken Nofziger of Kander LLC and Scott Shuman of Hall and Hall Auctions on behalf of Cordes & Company as general receiver and seller of the property.
The property is primarily comprised of 1,249± acres of productive, tillable farmland with the balance in recreational timber. It includes several country homes with outbuildings and grain storage. Most of the property includes upland and/or bottom ground tillable acres with type 3 soils that are better than county averages. The property also offers excellent recreational opportunities for the outdoor enthusiast.
According to Bellann Raile, Managing Director for Cordes, “The time Ken and Scott spent with prospective buyers in the area during the weeks leading up to the sale, understanding the needs of area producers and making potential bidders aware of the online and simulcast multi-parcel auction platform proved to be extremely beneficial to both the buyers and all of the selling parties we represented in this case. The use of the multi-parcel system to build combinations of tracts that suited the needs and budgets of potential buyers helped drive the better-than-expected valuations.”
“Our ability to use a simultaneous online and live format made this auction a great success,” said Nofziger. “To have almost 100 bids placed during the online-only portion of the auction and 200+ bids placed during the live auction is a pretty remarkable feat that exceeded everyone’s expectations.”
“The auction was very spirited with competition for every tract that was offered”, said Shuman. He continued, “We had bidders competing on individual tracts and making new combinations throughout the entire auction, keeping the pace of the auction lively and the values competitive. The seamless combination of Hall and Hall, Kander and Cordes working together delivered outstanding results for all the parties represented in this assignment.”
About Cordes & Company: Cordes & Company is a leader in insolvency and workout advisory services across many industries, especially real estate. Roughly 75 percent of our receivership engagements involve various real estate property types. With offices in California, Colorado and Minnesota we are able to work on projects throughout the United States with a focus on mid-west and western states. http://www.cordesco.com/
About Kander LLC: Kander LLC is a strategic and financial advisory firm dedicated to helping business owners, managers, investors, and lenders create and maximize value in a wide range of situations. Our principals have decades of experience advising in a wide variety of industries, with a primary focus on farming, food and agribusiness. https://www.kanderllc.com/
About Hall and Hall: Hall and Hall, an employee-owned company with 18 offices throughout the western U.S. and over 35 employee-owners, is the largest “full service” farm and ranch brokerage in America. Real estate brokerage and auction activities range between $500 million and $1 billion in sales per year. Hall and Hall's geographical reach and unique ownership/partnership structure ensures that its clients receive the highest level of local knowledge and personal service as well as the national and international perspective to make informed acquisition and management decisions. https://hallhall.com/