October 19, 2021
KJ Commercial is proud to announce the sale of Regency Office Park, a 42,303 SF office park located in Southfield, MI. We took this property to market on the Ten-X auction platform where it received interest on a national level. The auction generated 73 signed CA’s, 8 registered bidders, and a sale price at the Seller’s reserve. The property was encumbered by existing debt whereby the successful bidder would be responsible to assume the loan. At the conclusion of the auction, a Purchase Agreement was signed with a large non-refundable deposit and the property closed after the approval of the loan assumption.
If you have a property currently listed for sale and would like to see if the auction platform could work, please contact:
Kevin Jappaya, CCIM
Senior Real Estate Advisor