4A — January 27 - February 9, 2012 — Mid Atlantic Real Estate Journal MARE journal.com M ID A TLANTIC R EAL E STATE J OURNAL A UCTIONS
3rd Annual Real Estate Conference MaxSpann to speak at IMN Conference
HICAGO, IL—NRC Realty & Capital Advisors, LLC, an- To coordinate sale of 62 industrial sites YRCWorldwideretainsNRC Realty & Capital Advisors C
NEW YORK, — President and Chief Executive Officer Max Spann, of Max Spann
an industry leader in acceler- ated marketing and consulting services since 1890. Spann will discuss real estate auctions for bank- owned properties as the most efficient way for finan- cial institutions to dispose of their non-performing assets. The Information Manage- ment Network’s (IMN) series of Bank and Special Asset Forums on Distressed Real Es- tate addresses issues such as single asset vs. portfolio sales, FDIC sales, selling assets in a bankruptcy setting, selling to foreign buyers, collecting and enforcing judgments as well as many other issues. IMN hosts 15 real estate conferences a year where panelists discuss critical real estate issues. ■
Real Estate and Auction C o m p a n y, will address the 3rd An- nua l Bank and Finan- cial Institu- tions Special Asset Execu- tive Confer-
nounced that it has been retained by YRC Worldwide to coordinate the sale of 62 surplus cross-dock industrial sites located throughout the country. Geographically, the sites are primarily in the Southeast and Midwest with the remaining sites in New England, TX and LosAngeles, CA. While the sites are im- proved with cross-dock termi- nals, they are also adaptable to a variety of industrial, and in some cases retail, uses. YRC Worldwide has one of the largest less-than-truck- load (LTL) networks in North America YRC Worldwide has designated these sites as surplus and has closed the facilities over the past several years. “Our vacant sites are cur- rently a liability with sub- stantial holding cost, mainte-
828 Seaboard Ave. in Chesapeake, VA
nance and real estate taxes”, said Jamie Pierson, chief financial officer of YRCWorld- wide. “We have chosen the auction process to monetize these properties and turn a liability into an asset which can be quickly reinvested in our business. Some of these sites have been on the market for over three years, and YRC Worldwide is marking them down to sell”. The properties will be sold through NRC’s sealed bid format. The bid deadline has been set for March 15, 2012. To view property specific in-
formation and to receive sale updates, register online visit the NRC website. “This sale offers some great opportunities” said Evan Gladstone, NRC’s executive managing director. “While the demand for industrial real estate has been gradu- ally improving over the past 12 months, many of the sites will likely sell to smaller or other types of trucking users, investor buyers and for adap- tive reuse. We expect interest from adjacent property own- ers, industrial developers and opportunistic investors.” ■
Max Spann
ence on Real Estate Workouts which will be held onMarch 12 and 13 at the Hotel Marriot in downtown New York City. Spann will discuss real es- tate auctions for bank-owned properties as the most efficient way for financial institutions to dispose of their non-per- forming assets. Max Spann, Real Estate & Auction Co., a multifaceted national real estate company and auction house, has been
Mid Atlantic R EAL E STATE J OURNAL
N E W J E R S E Y • P E N N S Y LVA N I A • D E L AWA R E • M A RY L A N D • W A S H I N G T O N D . C . • V I R G I N I A • Auctioneers Directory
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Please contact Mr. Kelly Strauss for more information 40 CARRIAGE HILL LANE, FREDERICKSBURG, VA 22407 NICHOLLS AUCTION MARKETING GROUP (540) 226-1279 www.nichollsauction.com
www.AuctionBrokers.net 410-426-2622
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