AVALON PLAZA IN SALISBURY, MD SOLD VIA ONLINE AUCTION

AVALON PLAZA IN SALISBURY, MD SOLD VIA ONLINE AUCTION

SALISBURY, MD – May 13, 2013 – (RealEstateRama) — Brent Miller, CCIM, CPM, Managing Director of Sperry Van Ness – Miller Commercial Real Estate is pleased to announce that Avalon Plaza in Salisbury, MD recently sold at auction. Merrill Cohen, the Trustee for Avalon Plaza, appointed Louis B. Fisher, III, National Director and David Gilmore, Managing Director, both SVN Auction Team Advisors, as marketing agents/auctioneers, and Brent Miller, CCIM, CPM as the local headquarter broker. SVN-Miller also served as the court appointed property manager.

Avalon Plaza consists of three contiguous buildings totaling 33,770 square feet located on US Rt. 13 in Salisbury, MD with nationally anchored tenants including Outback Steakhouse, Chico’s and Talbots. The live online auction was held in Chambers at the Bankruptcy Court; four qualified bidders were present in the Court Chambers and five qualified bidders attended via Sperry Van Ness’ online internet bidding platform. Kayvan Mehrbakhsh, CCIM, Managing Director for the Sperry Van Ness office in Fairfax, VA represented the buyer. The final cash bid was $5,925,000.

Merrill Cohen of Cohen, Baldinger and Greenfeld in Bethesda, MD stated, “I wanted to offer my congratulations and sincere appreciation in the Avalon Plaza, LLC Bankruptcy Case. Brent, you and your team exhibited a high level of thoroughness and a great degree of professionalism. Many of the interested bidders commented on your team’s responsiveness with answers to their questions regarding the property, market conditions and demographics all important to buyers of operating retail centers.” For more information about the Avalon Plaza Auction or other auctions in the area, contact Brent Miller, CCIM, CPM at or 410-543-2440.

Sperry Van Ness – Miller Commercial Real Estate, with offices in Salisbury, MD, Annapolis, MD, Bethesda, MD, Hagerstown, MD, Wilmington, DE and Lewes, DE provides advisory, brokerage, consultation, and leasing services to clients in Maryland & Delaware, and asset and property management in Maryland, Delaware, and Virginia. Our day-to-day goals are to consistently provide spectacular customer service, to be on the cutting edge of technology and innovative marketing, and to provide the vision needed to achieve our clients’ real estate investment goals.

SVN-Miller is an Accredited Management Organization® (AMO). Our team includes a highly-trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).
For information on how to make Sperry Van Ness-Miller Commercial Real Estate the key to your success, contact 410-543-2440 or visit our website www.SVNMiller.com.

Contact:
Nicole Abresch
Sperry Van Ness – Miller Commercial Real Estate
410-543-2440

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The growth of the Sperry Van Ness organization is a story that originated in 1987 with two entrepreneurs that had a vision to create a commercial real estate system that put the clients’ interests first. They set out with a mission to create unprecedented value for commercial advisors and their clients. In 2001 Sperry Van Ness International Corporation was founded, and through its franchisees and licensees, operates one of the most recognizable commercial real estate brands according to the 2011 Lipsey Survey. The Sperry Van Ness organization includes more than 150 locations in 38 states. With headquarters in Irvine, Calif., the franchise operation’s independent business owners provide brokerage, tenant representation, consultation, asset management, property management, leasing, accelerated marketing and auction services. Sperry Van Ness affiliates represent clients in billions of dollars annually in office, multifamily, retail, industrial, self-storage, hospitality and land transactions.

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Phone: 888.311.0605

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