Lakeville industrial property and other prime commercial properties and
home sites will be sold to highest bidders on auction day, regardless of
price
MINNEAPOLIS, MN, May 5 /PRNewswire-FirstCall/ –
Ritchie Bros. Auctioneers’ former 29+/- -acre auction site in Lakeville, Minnesota will be sold to the highest bidder – regardless of price – as part of the Company’s upcoming June 18, Minneapolis, Minnesota unreserved industrial auction being held at the Company’s new, larger Minneapolis auction site in Medford.
Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will also be selling a 25+/- -acre prime commercial property also located in Lakeville as well as a 2.17+/- -acre commercial property located in Burnsville and eight acreage home sites in the Trommald, Brainerd and Big Lake areas. The properties, along with a wide variety of trucks, agricultural and equipment items, will be sold to the highest bidders during the one-day unreserved public auction at the Company’s new permanent auction site in Medford.
“This is a great opportunity to purchase prime industrial and commercial real estate near the Twin Cities,” said
Andy Artley,
Ritchie Bros. Regional Manager. “We believe in the unreserved method for selling both equipment and real estate. It’s the one way to get true fair market value for your assets. There are no pre-set prices for anything at our auctions;
Ritchie Bros. doesn’t set the prices and neither do the owners of equipment or property in our auctions. It’s the competitive bidding process on auction day that determines the final price of each and every item, whether it be a piece of equipment, a building or a parcel of land.”
The properties being sold include a 25+/–acre commercial property located at 10906 162nd Street West in Lakeville. The property, which is located by
Lee Lake, has highway visibility from the intersections of I-35 and County Road 46 as well as I-35 and County Road 70. The other commercial property, located in Burnsville, at 901 Lady Bird Lane, will also be sold to the highest bidder on auction day. The Burnsville property is approximately 2.17 acres in size and encompasses a 5,400+/- square-foot shop and office. The eight residential acreage home sites are located in the Bluffs on Lake Mahnomen (near Brainerd) as well as in the Timberquest, Buckshot Hollow and
Knick Knack Knoll subdivisions near Big Lake, Minnesota.
Ritchie Bros. Auctioneers has conducted unreserved industrial auctions at its former Lakeville property since 1991. The 29+/- -acre site, which has been graded, gravelled and enclosed by a chain-link fence, is located at 22050 Pillsbury Avenue (County Road 46) in Lakeville. The property has exposure to Interstate 35 and has a 12,000 square-foot, two-story office and warehouse building on it. The office-warehouse building, constructed in 1991, has an 18-foot clear ceiling height and approximately 7,000 square feet of finished office space on two floors. The building is wood frame construction with ribbed metal cladding. In March, the Company relocated to a new 120+/- -acre permanent auction site in the City of Medford, Minnesota, near Owatonna, where this June auction will be held.
The one-day unreserved auction already features a selection of hydraulic and rough terrain cranes, hydraulic excavators, agricultural tractors, combines, motor scrapers, compaction machinery, truck tractors and trailers – in addition to the real estate items. New items will be added to the sale right through to auction day. Like all
Ritchie Bros. auctions, the sale will be completely unreserved – meaning there will be no minimum bids or reserve prices and everything will sell to the highest bidder on sale day, regardless of price. Every item, including the three properties, is sold “as is, where is.”
HOW TO BID
There are three ways to bid for the real estate properties and equipment
items at the June Minneapolis auction:
1. Attend the Minneapolis auction in person at 6000 Frontage Road W.,
Medford, Minnesota 55049
2. Bid online - in real time over the internet - register online at least
one week in advance at www.rbauction.com/onlinebidding
3. Place a proxy bid. Ritchie Bros. will bid during the auction on your
behalf, up to the maximum bid you have given
FORMER RITCHIE BROS. LOCATION:
- For more information about the Lakeville industrial property,
including photos, additional documents, information about the area and
information about how to register and participate at the unreserved
auction, visit
www.rbauction.com/property/2009000_minneapolis_mn/property.jsp or
contact Ellen Engelsbel at +1.604.273.2135 or
eengelsbel@rbauction.com
PRIME COMMERCIAL PROPERTY (LAKEVILLE):
- For more information about the Lakeville commercial property,
including photos, additional documents, information about the area and
information about how to register and participate at the unreserved
auction, visit
www.rbauction.com/property/2009183_minneapolis_mn/index.jsp or contact
Steve Speer at +1.612.518.0095 or sspeer@rbauction.com
COMMERCIAL PROPERTY (BURNSVILLE):
- For more information about the Burnsville commercial property,
including photos, additional documents, information about the area and
information about how to register and participate at the unreserved
auction, visit
http://www.rbauction.com/property/2009183_burnsville_mn/index.jsp or
contact Steve Speer at +1.612.518.0095 or sspeer@rbauction.com
RESIDENTIAL ACREAGE HOME SITES:
- For more information about the eight acreage home sites contact
Steve Speer at +1.612.518.0095 or sspeer@rbauction.com
About
Ritchie Bros.
Established in 1958,
Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 38 auction sites worldwide.
Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.
SOURCE
Ritchie Bros. Auctioneers
