Williams & Williams, global leader in live and online real estate auctions, will sell 80+ commercial properties in Alabama and Georgia during a public auction this month.
The real estate, which is a mix of ready-to-build retail lots, development land and both vacant and occupied retail buildings, are primarily located in Tuscaloosa and Bessemer, AL.
“This will be one of the largest commercial real estate auctions in the Southeast U.S. this year,” said Fontana Fitzwilson, executive vice president of Williams & Williams. “A date-certain sale and the efficiencies of the auction process make this an ideal disposition solution for the sellers.”
Fitzwilson said the portfolio features prime retail land and lots in desirable locations where active development is currently taking place in Tuscaloosa and Jefferson counties.
“We are expecting national brands of retailers, restaurants, banks and hotels to participate in this auction. A lot of transactions will happen in one day and set the stage for future construction and jobs for this state,” she said.
Before the auction was publicly announced, inquiries have already been made on several properties.
“We expect a lot of these properties to sell prior to the auction,” Fitzwilson said.
In addition to the retail lots, the auction will feature 430+/- acres of wooded recreational land near Atlanta, an industrial building in Tuscaloosa, and a conference center on Lake Tuscaloosa. Other improved properties include Class A retail space in Tuscaloosa and multiple leased properties near Birmingham.
The live auction will take place on Friday, Sept. 29, at the Embassy Suites Hotel in Tuscaloosa, 2410 University Blvd. The auction is open to the public and will start at 10 a.m. High bidders will sign a purchase contract immediately following each auction and will be required to make a 10 percent down payment. Closing takes place 30 days after seller acceptance.
Online bidding is available during the live auction for all properties at AuctionNetwork.com, a sister company of Williams & Williams.
For more info, visit: https://www.williamsauction.com/SEPortfolio.