11/16/2011 // Columbus, OH, USA // Biplane Productions // Barry Baker
With no relief in the real estate market in sight, Danis will be liquidating nine commercial development tracts at auction on November 30. The third-generation company and traditionally a key player in Dayton-area real estate will now be auctioning prime development tracts without reserve.
“There will no doubt be some bargains for those in a place to invest right now.” said Barry Baker, the auctioneer responsible for marketing and auctioning the properties. Baker added, “These weren’t disposable development sites; there are some prime locations in the mix.” Baker, president of Ohio Real Estate Auctions, is working with Jeffery Levine of Cassidy Turley.
“In this market, the adage, ‘Time is money,’ is especially true,” said Levine, “The fastest way for Danis to liquidate these remaining properties in its portfolio was an auction; and we felt an absolute auction would let people know we’re serious about getting these off the books.”
Included in the list of properties is the former Danis headquarters complex on East First Street in Dayton. The other eight properties represent undeveloped land tracts in commercial and multi-family residential areas of Clayton, Dayton, Fairborn, Miamisburg, Riverside, and Vandalia. “We’ve got tax assessments to say what these investments should be worth, but the auction will be a real indicator—not just of their respective values but also of the Dayton commercial land market in general,” said Levine.
The auction will be held off-site of the properties at the Courtyard by Marriott Beavercreek. The auction company will be using a slide show to indicate which property is up for bid. “In a sense, it will be like nine mini auctions all in one place, all in a row,” said Baker.
Barry Baker can be reach for interview at (877) BID-OHIO and Barry@OhioRealEstateAuctions.com. Jeffery Levine can be reached for comment at (937) 424-2442. More information about the individual properties can be found at OhioRealEstateAuctions.com or via a detailed PDF brochure available upon request.
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