Commercial land and subdivision lots are hot in John Dixon auction

ATLANTA, Feb. 28, 2019 /PRNewswire/ -- Six commercial out-parcels around a Lowe's store in Fredericksburg, Virginia, sold for $792,000 in John Dixon & Associates' February Multi-Seller auction of properties being sold by banks, hedge funds and investors of all sizes.

"We got a great response on the out-parcels, and the seller was pleased. In all, we sold 70 offerings for a total of $2.85 million," said John Dixon, president of the auction company.

The auction attracted approximately 40 bidders for the two days of live bidding in Atlanta. More than 50 others watched the streamed event and bid via the Internet.

"We literally had real estate from Virginia to South Florida, and from Texas to Georgia, so there were a lot of people who were bidding on properties near them. This gives us the best of live and Internet bidding, allowing us to greatly expand our range," said Dixon.

Sales also included two former school facilities in West Orange, Texas; canal front residential lots in Cape Coral, Florida; and 45 home sites in McCormick, South Carolina.

"One thing that jumped out was the increase in demand for quality subdivision lots, which had been slow to bounce back. It looks like the builders have about built out their supply of home sites and are back looking for more across the board. We had three home sites in Alpharetta that averaged about $83,500 each, and also got some nice prices on lots in Douglasville subdivisions," said Dixon.

John Dixon & Associates, headquartered in Marietta, Georgia, is already lining up properties for its next multi-seller auction in the spring.  Individuals, financial institutions, investment funds and others seeking additional information on selling may visit johndixon.com or call 770-425-1141.

For more information:
Carl Carter, 205-823-3273

SOURCE John Dixon & Associates