Cushman & Wakefield Represents Torchlight on the Sale of Charleston & Valley View in Las Vegas

Unique Auction Investment Sale

 

LAS VEGAS, Nevada – March 1, 2018 In today’s commercial real estate climate, where auctions are stereotyped as “distressed” assets, Cushman & Wakefield (C&W) brokers Bob Hawkins and Neil Sorkin had tremendous success with an “auction sale” that yielded much higher than expected interest and pricing in today’s stabilized marketplace.

Sold in November 2018 for $12,068.00, the 85,868 square foot property located at 3811-3841 W. Charleston Blvd, Las Vegas is anything but distressed. In fact, it represents the booming and robust market that is Las Vegas. The final selling price exceeded client expectations.

“Typically, auctions were the vehicle for soft markets when interest was thin or during downturns in the market, No longer the case, today’s auction platforms are providing a vibrant response from a wide array of buyers from all disciplines – both private capital and individuals,” says C & W Managing Principal, Nevada, Christina Roush.

C&W Senior Director, Bob Hawkins, elaborates “With an auction, everyone gets the same chance to bid, at the same time and with the same disclosures.”

Added Senior Associate Director, Neil Sorkin, “Looking toward the future, it’s clear that more and more brokers will want to increase their knowledge about and participation in auctions for the very simple reason that auction activity is growing.”

C&W also handled the property management for this sale. According to Managing Director Gene Laramee “Cushman & Wakefield managed Charleston Valley View for nearly six years.  It is a multi-building garden style office property with a great history.  We assisted with the due diligence and preparation for the sale.  We enjoyed assisting our Cushman & Wakefield Brokerage teammates in the successful transition to the buyers.”

About Cushman & Wakefield (please note this is a new corporate boilerplate)

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

 

For Further Information Contact:

Bob Hawkins

Senior Director

Cushman & Wakefield Las Vegas

+1 702 688-6959

 

Neil Sorkin

Senior Associate Director

Cushman & Wakefield Las Vegas

+ 1 702 688-6932

 

Media Contact

Patricia Monsoor

Sr. Communications Specialist

Cushman & Wakefield

801-303-5401

patricia.monsoor@cushwake.com

 

2019-03-12T14:26:04-04:00March 12th, 2019|In the News|