Remaining Condominium Units in Barnegat NJ Sold Out at TRANZON Auction

BARNEGAT, N.J., Aug. 25, 2011 /PRNewswire/ -- TRANZON, Integrated Property Group ("TRANZON") has announced the successful auction sale and closing of the remaining units at the Barnegat professional office building.  The property, which is located at 249 South Main Street, also known as Route 9, had 1,500+/- SF units that can be combined to make 3,000+/- SF units. It is just 2 miles from the Garden State Parkway.

After being on the market for several years with little interest, TRANZON conducted its accelerated marketing and auction sales program over a very short 30 day period. "Our auction attracted enough interest to get all the units sold and that gave the seller, who is the original builder of the complex, the ability to move on to the next project," said John Dobos, Marketing Specialist with TRANZON.

"Time and time again we have proven that our local on the ground sales team, combined with our national reach, can bring buyers to the table to compete for properties whether they are multiple units in a condominium project, or a single asset commercial or residential property," said Oren Klein, Auctioneer and Partner at TRANZON.

"Smart investors who have a long-term outlook for New Jersey seize opportunities such as the one that TRANZON offered. The plan for our units in the immediate future is to lease them out to the medical community for instant return on our investment," said Tom Grady, from Coldwell Banker Riviera Realty in Manahawkin, who represented a buyer who purchased multiple units at the auction.

"Working with TRANZON to sell the remaining units in our project was really a pleasure. The entire process was very smooth, from the signing of the agreement all the way to the closing of the units," noted Donald Miller, the developer of the condominiums.

About Tranzon Integrated Property Group

Tranzon Integrated Property Group, based in the New York metropolitan area is a full-service auction and real estate disposition company and a member company of Tranzon, L.L.C.  With more than 30 offices from coast to coast, Tranzon's independently owned and operated regional member companies have conducted more than 11,000 auctions in 47 States and the District of Columbia, selling more than $1.6 Billion in asset value since the Company's formation. For a complete list of auctions and sales or to learn more about Tranzon visit www.tranzon.com.

Press Contact: Tranzon Integrated Property Group
973-753-1313 x708

SOURCE TRANZON, Integrated Property Group