“Pricing in the office segment continues to outpace the fundamentals, making this a market best suited for patient investors who can see the long term potential a property can achieve,” said Rick Sharga, executive vice president of Auction.com. “We’re seeing a shift from bargain hunters to investors who are looking for market-priced office properties with unique attributes and features that make them more attractive to tenants. Properties with prime locations – access to freeways, residential communities and various amenities – help secure current tenants, and are more likely to generate higher rents in the future.”
One such property among November’s closings is the Hawaiian Research Center (HRC), a 76,000-square-foot, four-story lab and office building on 2.76 acres of land located in Aiea, Hawaii, which was auctioned for 120 percent of the reserve price on Sept. 4 and closed Nov. 7. HRC’s easy access to the freeway, downtown Honolulu, attractive residential areas and the Pearlridge Center, Hawaii’s largest shopping center, make it a prime example of a high potential office property.
Other notable closings in November include:
The Auction.com platform offers complete transparency to the large pool of bidders it attracts from around the world. In turn, the competition among qualified buyers ensures that sellers’ assets are transacted at fair market value. Auction.com enables buyers and sellers to conduct transactions in a more efficient manner than previously possible by leveraging internet technology to streamline what has traditionally been a cumbersome, complicated and paperwork-intense process.
Rick Sharga, the EVP of Auction.com, is speaking at the Property Portal Watch Conference on the 26th and 27th January. Sign up before the 12th January and secure the Early Bird rate.