Online Auction Brings Historic Chase Bank Building to Market
Newport Beach, CA – November 4, 2011 – (RealEstateRama) — Freedom Realty Exchange, a leading online real estate auction platform, features a professional office building in a highly desirable location at an unbelievably low starting bid A J.P. Morgan Chase office building, centrally located to downtown Lake County government offices, has just been launched on the Freedom Realty Exchange (FRE.com) with a minimum bid of just $199,000.
The historic building in Painesville Ohio is located across from Painesville Town Square/Veteran’s Park and adjacent to City Hall and the County Courthouse. Locally represented by Alex T. Jelepis of Grubb & Ellis Cleveland Ohio, this property auction represents the growing trend of real estate professionals employing auction marketing companies in order to expand service offerings to their clients.
“I believe that being able to offer an online auction as part of my marketing strategy will allow me to better serve the diverse circumstances of my clients’ and still achieve the desired result; a quick sale at the highest possible market price”, states Jelepis. “
An auction creates a trading platform that brings the buyer and seller together in such a way that depth of market emerges and fair market value is realized.
“An auction is really a means to an end, and in most cases it is a much simpler and direct process than conventional brokerage”, said LFC’s Director of Operations Ryan Devin. “Auctions are a supplemental tool for real estate professionals, not a threat, and those that embrace it will definitely reap the rewards.”
30 South Park Place offers over 70,000 square feet of professional office space on nearly 2 acres of land with a Chase Bank branch office occupying a substantial amount of space as the anchor tenant, with institutional grade credit, until 2021. Other features of the building include;
• 5 floors; suitable for suites from 575 SF
• 3 elevators
• Ample on-site parking
• 5,000 SF tenant Meeting/Conference Center
• Central Business District location
• Unoccupied space available for immediate leasing
As with all auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the need to spend hours in a crowded ballroom with all the unwanted pressure and intimidation that comes with a traditional outcry auction. Interested buyers can view property and auction documents by visiting FRE.com/113R2. Broker participation is invited. Bids must be submitted by December 1st.
About Freedom Realty Exchange
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last seven years, we have conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.
