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Colliers & Auction Firm
Form Alliance
Jan 8, 2009 - The Kansas City Business
Journal
United
Country Auction Services, based in
Kansas City, has aligned with Colliers
International to provide accelerated
transaction services to commercial real
estate clients, the companies said
Thursday.
United
Country Auction Services is a division
of United Country Real Estate Inc.,
which has headquarters at 2820 N.W.
Barry Road. Financial terms of what was
called “a strategic alliance” with
Colliers International were not
disclosed.
According to a release Thursday from the
parties, accelerated marketing of
commercial real estate involves setting
a specific date for the sale of an asset
and completing a saturation marketing
effort prior to that date. Accelerated
marketing events generally are completed
through an auction or sealed-bid
process.
“It’s
likely that a large number of commercial
assets nationwide will need to be sold
in the next
12 months, and auctions are an ideal
solution when seller requirements
dictate, ...” PatrickDuffy, chairman of
Colliers International’s National Retail
Group, said in the release. “We believe
combining the resources of our two
organizations creates a unique
opportunity for clients to realize
current market value in a predictable
time frame, so they can clean out their
balance sheets, adjust their commercial
real estate portfolios and turn their
attention back to their core business.”
Colliers
International is a global affiliation of
independently owned commercial real
estate firms with 11,000 employees in
293 offices in 61 countries.
United
Country Real Estate is the largest
integrated real estate and auction
company in the United States and the
only national franchise system
specializing in small rural towns and
cities.
“With
675 offices, 4,000 agents and more than
140 dedicated, experienced auction
professionals, United Country brings the
support platform, accelerated marketing
and auction expertise to this effort,”
Mike Jones, president of United Country
Auction Services, said in the release.
While
auctions have been utilized routinely
for unique luxury properties, farm and
ranch land, fine art and collector
automobiles, their use in commercial
real estate transactions waned following
the Resolution Trust Corp. disposition
market of the late 1980s and early
1990s. In recent years, however, the
expediency and effectiveness of this
sales and marketing method has reignited
the popularity of auctions in commercial
real estate sales.
In 2007,
$15.7 billion of commercial and
industrial real estate was sold via the
auction method of marketing, the release
said.
About Colliers International
Colliers
International is a global affiliation of
independently owned commercial real
estate firms.
The organization's 11,000 employees span
the world in 293 offices in 61
countries. On a worldwide basis,
Colliers manages 868 million square feet
and has revenue of $US 2.0 billion.
About United Country
United Country Real Estate is the
largest integrated real estate and
auction company in the U.S. Based in
Kansas City, Mo., the company has been
an innovator in real estate marketing
since 1925. United Country supports 675
offices nationwide with a unique,
comprehensive marketing program that
includes one of the largest portfolios
of property marketing web sites (over
750 separate sites), publishes seven
proprietary real estate catalogs with a
cumulative distribution of 1.5 million,
an extensive, current buyer database and
national advertising of properties to
more than 90 million potential buyer
prospects a week. United Country has
been recognized as a Top 25 Franchise by
the Wall Street Journal and among
Entrepreneur Magazine's Franchise 500®.
NATIONAL
HEADQUARTERS
2820 NW Barry Road, Kansas City, MO
64154
816-420-6200 www.unitedcountry.com |
