THE TERMINUS

Compass Auctions & Real Estate To Auction Large Downtown Nashville Properties

COMPASS AUCTIONS & REAL ESTATE TO AUCTION LARGE DOWNTOWN NASHVILLE PROPERTIES

NASHVILLE (April 17, 2017) Compass Auctions and Real Estate LLC, a Chattanooga, Tenn.-based auction and real estate company with offices in Tennessee, Georgia and Kentucky, is set to auction two large tracts of land in downtown Nashville on behalf of the State of Tennessee.

The auction is for the properties located at 450-460 James Robertson Parkway and will take place Wednesday, June 21, at 2 p.m. CDT, at the nearby Hermitage Hotel.

The downtown Nashville properties include 2+ acres located on the north side of James Robertson Parkway and Gay Street, with frontage on the south side of Fourth Avenue North. The central location is highly visible and accessible, and is near many downtown landmarks, such as NISSAN Stadium, the Tennessee Capitol, Tennessee Performing Arts Center and Bicentennial Mall State Park.

David Roberson, a spokesman for the state’s Department of General Services, said state law allows sale of properties by auction. ”Because this is a high-profile property, we decided an auction would produce the highest and best price for Tennessee taxpayers,” he added.

 

 

 

 

 

 

“Downtown Nashville has become a place where families want to live and businesses want to operate,” said Justin Ochs, Vice President of National Development for Compass. “We’ve been amazed by the amount of national interest this premier location has already generated and are proud to represent the state of Tennessee in making sure we find the best buyer.”

The properties include approximately 2.1 acres offered in two separate, but adjoining, parcels and as a whole. 450 James Robertson Parkway consists of approximately 0.87 acres (38,025+/- square feet), and 460 James Robertson Parkway consists of approximately 1.18 acres (51,296+/- square feet) with approximately 45,294 square feet of office space. The topography is generally level to gently sloping.

The location is zoned in order to encourage a mix of compatible land uses that provide opportunities to live, work and shop downtown.

More information on these properties, including a property information package and details for brokers/bidders, can be found at soldoncompass.com.

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About Compass Auctions & Real Estate

Compass Auctions & Real Estate offers a host of auction and real estate services, including live, online and webcast auction events. The Compass team has over 50 years of combined experience with government surplus, heavy equipment, vehicle fleet, farm and ranch, estate, luxury asset, and charitable auctions. Compass is a certified WBE woman-owned business and is headquartered in Chattanooga, Tenn., with locations in Nashville and Lebanon, Tenn., Atlanta, and western Kentucky. For more information, visit soldoncompass.com.

 

 

 

Justin Ochs, M.S., CAI

VP of National Development

(615) 507-5984

Jochs@soldoncompass.com

 

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Compass Closes 41 Parcels for $3.2 Million #RealEstate

Compass Closes 41 Parcels for $3.2 Million #RealEstate

The Compass Real Estate Team is pleased to announce the closing of 41 parcels near Turner Field Stadium for a total of $3.2 million.  The 41 parcels of land equating to 203,629 square feet or 4.67 acres located between Hank Aaron Drive SE and Georgia Avenue SE in Atlanta, Fulton County, Georgia.  The project is one of more than 26 assets entrusted to Compass Auctions & Real Estate to list and sell on behalf of the Federal Deposit Insurance Commission (FDIC).  Compass, with offices in Nashville, Chattanooga, Western Kentucky and Atlanta works closely with Special Assets Consultant T. Kyle Swicegood, CCIM to assist in the disposition of assets nationwide.

The Turner Field Development was assigned to Project Manager Justin Ochs, VP of National Development for Compass.  Ochs worked diligently with FDIC officers over the past several months to identify potential developmental concerns, work through legal issues and effectively transfer the parcels back into the public’s hands.  Additionally, Ochs conducted an exhaustive search through specially designed marketing techniques to identify cash buyers who could overcome any potential concerns, and compete to purchase the property.

 

 

 

 

 

 

 

Turner Field has served as the home ballpark for the MLB Atlanta Braves since 1997. In November of 2013, the Atlanta Braves announced that they would be leaving Turner Field for a newly built ballpark named SunTrust Park located in Cobb County in the northwest suburbs outside Atlanta. The Atlanta Braves will played their final regular season game at Turner Field on October 2, 2016 versus the Detroit Tigers.

 

In November 2013, the mayor of Atlanta, Kasim Reed, announced that the Turner Field stadium and surrounding parking lots would be up for sale and redeveloped after the Braves season ends in 2016. Georgia State University expressed interest in the site in April 2014, and in December 2015, the Atlanta Fulton County Recreation Authority announced Georgia State University along with local developer Carter, submitted the winning bid for the Turner Field property. Georgia State University (GSU) is a public university located in downtown Atlanta. It was founded in 1913 and has approximately 54,000 students with 43,000 being undergraduates. In 2015, the Georgia State football team, the Panthers, had an average home attendance of approximately 10,400 fans.

The assets were listed and sold by Team Compass for a total of $3,200,000.  FDIC Officers and Asset Managers have been extremely pleased with the performance of properties listed across the state of Georgia by the Compass Real Estate Team.

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Justin Ochs, M.S., CAI

VP of National Development

Compass Auctions & Real Estate

(615) 507-5984

jochs@soldoncompass.com

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Middle TN Sees Largest Home Sales Gain in November

Middle Tennessee Sees Largest Home Sales Gain in November

NASHVILLE, Tenn. (Dec. 7, 2016) – There were 2,978 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 24 percent from the 2,397 closings reported for the same period last year.

Year-to-date closings through November are 35,674, a 6 percent increase from the 33,679 closings reported through November 2015.

“Although we experienced a substantial increase in closings this November as compared to last November, our monthly trending this year is in line with typical market trends this time of year.  The numbers of closings are high, but have shown fewer closings month by month since the summer,” said GNAR President Denise Creswell.

“Various factors play into the 24 percent increase we saw over 2015, including the end of the year approaching and the threat of rising interest rates,” said Creswell. “Many people locked in their rates in October in anticipation of rising interest rates after the election, and they have edged up slightly. We will likely see the interest rate factor be a boost to home sales in December, as well.”

A comparison of sales by category for November is:
November 2015 November 2016
CLOSINGS
2,397
2,978
Residential 1,986
2,463
Condominium 248
353
Multi-Family 13
22
Farms/Land/Lots 150
140

There were 2,774 sales pending at the end of the month, compared with 2,516 pending sales at this time last year. The average number of days on the market for a single-family home was 49 days.
The median residential price for a single-family home during November was $259,900, and for a condominium, it was $182,390. This compares with last year’s median residential and condominium prices of $231,925 and $178,002, respectively.

Inventory at the end of November was 11,225, compared to 12,433 in November of last year. The current inventory of properties by category, compared to last year, is:
November 2015 November 2016
INVENTORY 12,433 11,225
Residential 8,198 7,540
Condominium 807 737
Multi-Family 115 116
Farms/Land/Lots 3,313 2,832


“New construction is also adding to the increase this time of year. New construction starts are up across the country, and Middle Tennessee saw 200 more new construction units close in November than November 2015,” said Creswell.
“November saw our biggest sales gain all year compared to last year, and it also saw our lowest days on market average as far back as our records go,” said Creswell. “We say it almost every month with the release of market data, and it bears repeating again: with our ever-tightening inventory supply, being prequalified and ready to make an offer quickly is critical for buyers, even in the colder months.”

 

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Compass Closes Panhandle Valley Lots for $2.4 Million #RealEstate

Compass Closes Panhandle Valley Lots for $2.4 Million #RealEstate

The Compass Real Estate Team is pleased to announce the closing of 182 residential lots in two separate transactions for a total of $2.4 million.  Located in Hampton, GA, the Panhandle Valley Estates Subdivision contains 366 single-family lots on 173.44 acres, including approximately 75.89 acres of open space.  The project is one of more than 26 assets entrusted to Compass Auctions & Real Estate to list and sell on behalf of the Federal Deposit Insurance Commission (FDIC).  Compass, with offices in Nashville, Chattanooga, Western Kentucky and Atlanta works closely with Special Assets Consultant T. Kyle Swicegood, CCIM to assist in the disposition of assets nationwide.

 

 

 

 

The Panhandle Valley Estates Development was assigned to Project Manager Justin Ochs, VP of National Development for Compass.  Ochs worked diligently with FDIC officers over the past several months to identify potential developmental concerns and effectively transfer the residential lots back into the public’s hands.  Additionally, Ochs conducted an exhaustive search through specially designed marketing techniques to identify cash buyers who could overcome any potential concerns.

The Panhandle Valley Estates Development was originally developed in 2005. According to MetroStudy, there were 94 homes built and sold in Phase 1 of the subject subdivision, the majority of which occurred prior to 2009. Typical finished unit pricing in the subject subdivision in 2005-2007 averaged in the low $200,000′s.  Ochs worked with buyers to identify and overcome erosion control issues, zoning, legal description issues and successfully sell the entire development in two separate transactions.

The assets were listed and sold by Team Compass for a total of $2,400,000.  FDIC Officers and Asset Managers have been extremely pleased with the performance of properties listed across the state of Georgia by the Compass Real Estate Team.

 

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100 Acre Farm & Antique Farm Equipment Hit Auction Block | Cadiz, KY

100 Acre Farm & Antique Farm Equipment Hit Auction Block | Cadiz, KY

 

Location:  498 Trigg Furnace Rd | Cadiz, KY

Date:  October 1st, 2016

Time:  10:00 a.m. CST

Online Pre-bidding:  9/21/2016-10/01/2016

Preview 1:  Saturday September 24th  9:00 am – 1:00 pm

Preview 2:  Friday September 30th 2:00 pm – 6:00 pm

 

 

 

“Incredible opportunity”.  That is the single phrase used to describe this auction by Josh Abner, Lead Auctioneer & Real Estate Agent for Compass Auctions & Real Estate‘s Western Kentucky Division.

“It’s extremely rare to be given the opportunity to buy land in this area that attracts such a diverse buyer pool,” commented Abner.  ”This land is perfect for the full-time farmer, hobby farmer, hunter, lake area enthusiast, retired couple and single family.  It encompasses all of the above.”

The rolling terrain of this beautiful property currently serves as a fully sustainable family farm, including crop and produce land, livestock, two large family homes, multiple barns, existing fence and cross fencing, and four ponds.

 

 

 

 

 

 

 

The farm will be offered whole and in four tracts ranging from 20-30 acres each.  Thus, providing numerous opportunities for lake retreats, crops, hunting, family farms, or development.  All four tracts have ample road frontage, as well as, access to county water and electricity.

The farm is nestled in the heart of Trigg County, just off the shores of Lake Barkley, and only minutes from beautiful downtown Cadiz where you will find dining, shopping, and attractions.  Proximity to numerous boat ramps provide immediate access to the recreational opportunities Lake Barkley has to offer, including some of the region’s best fishing and endless water sports.  Recreational opportunities abound with easy access to Lake Barkley State Park Resort and Marina, Prizer Point Marina and KOA campground, Arrowhead golf course, Mineral Mounds golf course, and Boots Randolph golf course.

Justin Ochs, Vice President of National Development and Managing Broker for Compass is excited to be bringing their services to the area of Western Kentucky.  ”Customer service is our first priority.  We work hard to provide the highest level of service to our customers and stay on the cutting edge of technology and marketing strategies.  I think the local residents will notice a vast difference in our operations compared to the standard.”

The geographic location of Cadiz allows for easy travel to many metropolitan areas including Nashville, St. Louis, Cincinnati, and Atlanta.

Additionally, up for auction is a wide array of antique tractors, vehicles,  horse-drawn carriages and farm equipment that are sure to draw collectors from across the globe.  Included will be an unrestored 1950 Dodge Coronet, 1954 Farmall Super MTA, horse-drawn New Idea Spreader, Doctor’s Buggy and covered wagon.  Over 150 lots of antiques, tools, farm equipment & household items are expected.

 

 

 

 

 

 

 

For more information be sure to contact Josh Abner (270) 839-3136.  Visit SoldonCompass.com for a complete property information package and sale day catalog.

 

 

Josh Abner, M.Ed

Professional Auctioneer/Realtor

Compass Auctions & Real Estate Western KY Division

(270) 839-3136

jabner@soldoncompass.com

 

 

 

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Middle TN Housing Market Unchanged for August #RealEstate

Middle TN Housing Market Unchanged for August
Published by the Greater Nashville Association of Realtors

NASHVILLE, Tenn. (Sept. 7, 2016) – There were 3,741 closings reported for the month of August, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents a .8 percent decrease compared to the 3,770 closings reported for the same period last year.
Year-to-date closings for the Greater Nashville area have increased 4.4 percent. There were 25,898 closings, compared with 24,808 closings reported through August of last year.
Home sales for our market were essentially flat for August,” said GNAR President Denise Creswell. “Technically, we were down from last August, but by less than one percent. Considering the time of year and the continued struggle with inventory, a slight decrease in sales is not unexpected.”
A comparison of sales by category for August is:
August 2015 August 2016
CLOSINGS 3,770
3,741
Residential 3,173
3,117
Condominium 410
437
MultiFamily 34
23
Farms/Land/Lots 153
164
There were 3,717 sales pending at the end of August, compared with 3,647 pending sales at this time last year. The average number of days on the market for a single-family home was 51 days.
The median residential price for a single-family home during August was $253,000, and for a condominium it was $189,900. This compares with last year’s median residential and condominium prices of $235,000 and $169,000, respectively.
Inventory at the end of August was 12,288, down from 13,511 in August 2015. The current inventory of properties by category, compared to last year, is:
August 2015 August 2016
INVENTORY 13,511 12,288
Residential 8,904 8,412
Condominium 988 823
Multi-Family 124 98
Farms/Land/Lots 3,495 2,955
“We have entered the time of year that is typical for the housing market to begin experiencing a slowdown. Once schools are back in session and the holidays begin to approach, the market always slows,“ said Creswell. “Despite that, our market still has a strong number of sales pending. While not all of those sales will make it to the closing table, it’s a good indicator that we have active buyers and sellers going into the fall.”

 

 

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Compass Closes Eagles Landing for $2 Million | Atlanta

The Compass Real Estate Team is honored to announce the closing of 8.84 commercial acres located off of Eagles Landing Parkway and Country Club Drive  in Atlanta, Georgia.  The project is one of more than 26 assets entrusted to Compass Auctions & Real Estate to list and sell on behalf of the Federal Deposit Insurance Commission (FDIC).  Compass, with offices in Nashville, Chattanooga, Western Kentucky and Atlanta works closely with Special Assets Consultant T. Kyle Swicegood, CCIM to assist in the disposition of assets nationwide.

The Eagles Landing Development was assigned to Project Manager Justin Ochs, VP of National Development for Compass.  Ochs worked diligently with FDIC officers over the past several months to identify potential developmental concerns and effectively transfer the commercial acreage back into the public’s hands.  Additionally, Ochs conducted an exhaustive search through specially designed marketing techniques to identify cash buyers who could overcome any potential concerns.

 

 

 

 

 

 

 

The Eagles Landing Parkway Development consists of 2.24 +/- acres on the corner of Eagles Landing and an  additional 6.51 +/- acres located on Country Club Drive, for a total of 8.84 acres.  Ochs worked with buyers to identify and overcome erosion control issues, buffer zones and ingress and egress issues and successfully sell the entire development in 5 months.

The property was listed and sold by Team Compass for a total of $2,000,000.  FDIC Officers and Asset Managers have been extremely pleased with the performance of properties listed across the state of Georgia by the Compass Real Estate Team.

 

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Compass Real Estate lists Turner Field Parcels on Behalf of FDIC

Compass Real Estate Lists Turner Field Parcels on Behalf of FDIC

 

Compass Real Estate has once again been selected by the FDIC to sell one of the largest assets in a recent portfolio in the Atlanta area located just outside Turner Field.

The subject is 40 parcels of land equating to 203,629 square feet or 4.67 acres located between Hank Aaron Drive SE and Georgia Avenue SE in Atlanta, Fulton County, Georgia.  Turner Field has served as the home ballpark for the MLB Atlanta Braves since 1997. In November of 2013, the Atlanta Braves announced that they would be leaving Turner Field for a newly built ballpark named SunTrust Park located in Cobb County in the northwest suburbs outside Atlanta. The Atlanta Braves will play their final regular season game at Turner Field on October 2, 2016 versus the Detroit Tigers.

In November 2013, the mayor of Atlanta, Kasim Reed, announced that the Turner Field stadium and surrounding parking lots would be up for sale and redeveloped after the Braves season ends in 2016. Georgia State University expressed interest in the site in April 2014, and in December 2015, the Atlanta Fulton County Recreation Authority announced Georgia State University along with local developer Carter, submitted the winning bid for the Turner Field property. Georgia State University (GSU) is a public university located in downtown Atlanta. It was founded in 1913 and has approximately 54,000 students with 43,000 being undergraduates. In 2015, the Georgia State football team, the Panthers, had an average home attendance of approximately 10,400 fans.

 

 

 

 

 

 

 

Justin Ochs, Vice President of National Development for Compass Auctions & Real Estate, has been selected as the Lead Project Manager for the sale of this asset.  Ochs who successfully liquidated a $30 Million FDIC portfolio in 2014, is highly sought after in the traditional real estate market as well for his work ethic, customer service skills, professionalism and expertise in contract negotiation.

The Turner Field asset is currently listed at $4,000,000.00.  A full property information package can be found at www.SoldonCompass.com.

 

Justin Ochs, M.S., CAI

VP of National Development

(615) 507-5984

jochs@soldoncompass.com

www.SoldonCompass.com

 

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Compass Opens Atlanta Office with $12 Million in FDIC Assets

Compass Opens Atlanta Office with $12 Million in FDIC Assets

 

Compass Auctions & Real Estate is pleased to announce the opening of their Atlanta office.  Compass launches this office with a $12 million portfolio for FDIC comprised of both residential and commercial assets.  These assets consist of large acreage farm tracts, fully developed residential land tracts, and commercial tracts located in high traffic areas.  The properties stretch from the southern metro Atlanta area, southeast to Griffin and west to Hogansville.

The Asset Managers requested that Team Compass list these assets on behalf of FDIC after successfully closing out a $30 Million portfolio in 2014.  Compass Auctions & Real Estate, headquartered in Chattanooga, also hosts offices in Nashville, Lebanon and Western Kentucky.  Justin Ochs, VP of National Development for Compass, has been assigned as Lead Project Manager for the FDIC Assets.  Justin’s work ethic, customer service skills, professionalism and expertise in contract negotiation are highly sought after in the traditional market.

 

 

 

 

 

 

 

“We are very pleased to be selected once again by the FDIC to assist in liquidating bank assets,” commented Ochs.  ”We have been gradually gaining market share in the Atlanta area and found this to be an excellent opportunity to establish a full-time office in the Atlanta marketplace.”

Compass Auctions & Real Estate, LLC has specific divisions focused in the auction marketing and traditional sale of residential and commercial real estate, heavy equipment, industrial surplus, local, state and federal government assets across the United States.  For more information, call (800) 729-6466 or visit www.SoldonCompass.com

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Cadiz Auctioneer Completes Year 1 of Industry’s Top Designation

Cadiz Auctioneer Completes Year 1 of Industry’s Top Designation

Abner completes year one at the Certified Auctioneers Institute –
the auction profession’s premiere education program.

Cadiz, Kentucky 3/25/2016 – Cadiz auctioneer Josh Abner, of Compass Auctions & Real Estate, recently completed his first year of courses at the prestigious Certified Auctioneers Institute (CAI). The CAI program is the industry’s premier training program developed by the National Auctioneers Association (NAA) for auction professionals.

The three-year CAI designation program provides auction professionals the opportunity to earn the auction industry’s most respected professional designation. CAI is an intensive, executive development program offering professional auctioneers instruction and coursework in business management, ethics, communication, finance, strategic planning and marketing.

The NAA conducts CAI every year in March at Indiana University in Bloomington. CAI candidates join auctioneers from across the world to learn from some of the nation’s most distinguished and respected leaders in the auction industry.

As of February 2016, there were approximately 900 current CAI designation holders in the world.

Compass Auctions & Real Estate Western Kentucky Division Auctioneer Josh Abner provides professional value driven service with an industry leading competitive edge for all of your real estate, estate liquidation, land, equipment, and fund raising auction needs.

Josh Abner resides in Cadiz with wife Brooke Abner. To learn more about Abner, please call 270-839-3136, email jabner@soldoncompass.com or visit www.soldoncompass.com.

For more information on CAI, its history and its standing as the premiere training program for auction professionals, contact the NAA at (913) 541-8084 or visit www.auctioneers.org.

About Compass Auctions & Real Estate

Compass Auctions & Real Estate’s mission is to serve our clients by providing an accelerated marketing campaign in combination with a competitive bidding platform allowing assets to achieve their greatest value in the shortest amount of time possible. With office locations in Western Kentucky, Chattanooga, Lebanon, and Nashville, Tennessee, and Atlanta, Georgia, Compass offers a host of services to the Southeastern region and Nationwide. With over 29 years of experience our Team of Professionals are available to assist you with exceptional service and proven results.

About the National Auctioneers Association
The National Auctioneers Association represents thousands of Auctioneers from the U.S. and across the world. The mission of the NAA is to provide critical resources to auction professionals that will enhance their skills and successes. The NAA’s headquarters are in Overland Park, Kan., and it was founded in 1949. 

 

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