Good & Co. to auction six properties in four states

Real Estate Weekly, July 21, 2004

Steven L. Good, Chairman/CEO of Sheldon Good & Company, announced that his company has been retained by a Fortune 100 company in collaboration with Trammell Crow Company, its national portfolio advisor, for an auction event in a portfolio sale of six properties in four states on an individualized basis.

The auction is the very latest in a series in which Sheldon Good & Company has been called upon to execute a successful multi-state, multi-property auction on behalf of a major corporation.

The motivated seller has directed that all properties in this auction must be sold and closed by the end of the quarter.

The properties range in size from a 530,471 sq. ft. multi-tenant industrial facility in Elmira, NY; a 94,000 sq. ft. industrial facility in a two-building complex on 30 acres in Argyle, Washington County, NY; to 69,216 sq. ft. and 45,464 sq. ft. industrial buildings in Monroe, NC; to a 28,505 sq. ft. industrial building in Glen Rock, Pennsylvania, 30 minutes north of Baltimore; a 22,981 sq. ft. building on 5.19 acres in South Haven, Michigan, 115 miles from Chicago; and a 425-acre breakthrough medical technological facility in Sherburne, NY.

In announcing the auctions, Mr. Good said: "This portfolio sale of surplus corporate manufacturing and warehouse facilities will include interlocking local, regional and national auction programs This is a continuing example of popularity of this type of program which showcases the versatility of the auction marketing method to sell and close portfolios of properties on a timely and efficient basis."

Good noted that an increasing number of large publicly traded corporations are turning to the auction marketing method in the disposition of their surplus properties.

Good offered as an example similar programs Sheldon Good has undertaken recently on behalf of Alcoa Corporation and for Newell Rubbermaid which sold 4,100,000 square feet of surplus facilities for them in the fourth quarter of last year.

"America loves auctions," Mr. Good said. "They represent a good opportunity for the buyers and a wonderful opportunity for the sellers."