Some say interest growing in vacant commercial spaces
By Gloria Young, Journal Staff Writer
After a long period of slow sales and falling prices, local Realtors
are seeing increased interest in Auburn’s commercial buildings.
“Since November we’ve had an uptick in activity,” Mike Fluty with
Coldwell Banker Commercial said this week. “Buyers who were sitting on
the sidelines seem to be coming out.”
Fluty acknowledged that he is negotiations for the sale of several properties, but declined to offer specifics.
“I just showed one of (my properties) that’s been out there for two
years-plus,” he said. “I showed it twice in the past week. We’d gone
months without an inquiry on it.”
It’s a change from 18 months ago, when most of the local commercial
real estate movement centered around business owners renegotiating
their leases and moving to smaller space, according to previous Journal
reporting.
Among Coldwell Banker’s commercial listings in Auburn are the
former Robie House day spa on High Street, two buildings — 21,444 square
feet and 64,480 square feet — at the airport business park, and the
former Encore Music space on Cleveland Avenue.
Last summer, Coldwell Banker sold one airport property, Wholesale
Outlet’s 21,000-square-foot building at 12810 Earhart Way, Fluty said.
He estimates his company has about 100,000 square feet of Auburn office
and manufacturing space in its commercial real estate listings
currently.
Read Full Article