PHOENIX-Next week, more than $350 million of Arizona retail centers, office buildings, multi-family apartment housing complexes, undeveloped land and non-performing loans are up for auction on Auction.com. The properties are concentrated in the Phoenix metro area and include 18 mostly foreclosed properties and land.
Starting bids for the Arizona auction range from $25,000 to $4.5 million. Bidding begins at 9 am PST on June 27 and ends June 29.
The auction is one of the largest ever for commercial properties in the state, according to Rick Weinberg, vice president of Auction.com, an Irvine, CA-based online auction platform. “In working with various financial institutions and private owners, we realized that we had an array of Arizona properties and loans and decided to auction them together,” Weinberg says. “The Arizona auction is a reflection of what is happening across the country – people are looking to take these assets off their books, and demand from investors is strong.”
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
