Proceeds Beat Expectations by 45 Percent in Well-Attended CBD Equipment/Real Estate Auction by Tiger Group and Tranzon Asset Advisors
CADIZ, Ky., August 19, 2021 / PRNewswire / – Motivated bidders achieved solid results in an online auction of foreclosed assets from a major CBD processor’s facility in Cadiz, Kentucky. Tiger Group sold the processing, laboratory and material handling equipment while Tranzon Asset Advisors liquidated the properties.
in the August 10 Sale has Tigers Commercial & Industrial Division selling all available assets from the hemp processor’s 86,500 square foot facility in. closed Cadizwho are part of the Clarksville, Tenn., Metropolitan area.
Assets that sold higher than expected sales prices at Tiger’s August 10 auction included Precision Extraction Solutions’ three 2019 automatic solvent vaporizers.
In the real estate auction, Tranzon sold the 14.5-acre lot and the 86,500-square-foot lot. Building for $ 2.1 million, well above the estimated $ 1.6 million value.
In a separate timed online auction, Tranzon sold the building and 14.5 hectares of land for $ 2.1 million. The appraised value of the property was $ 1.6 million.
“When we took a step back and looked at the sales of these devices and properties, we found that sales exceeded our estimates by 45 percent,” said Jonathan vacation, Director of Business Development, Tiger Commercial & Industrial. “That speaks to a number of dimensions, including the resurgence of the North American economy and the CBD industry, the marketing reach of both companies, and the attractiveness of the assets on offer.”
Tiger’s international marketing efforts – which included sending 85,000 emails about the event – generated more than 22,000 views on the SoldTiger.com auction site. A total of 4,018 bids were submitted for the 160 lots of processing and other equipment.
“Our marketing efforts brought in highly motivated buyers from the hemp, cannabis, biopharmaceutical food and beverage, robotics, agriculture, machinery, and other industries,” noted Holiday. “Tiger’s targeted marketing strategy focused on bespoke mailing lists, social media, advertisements in trade publications, and a calling campaign for industries that would benefit from the equipment.”
While most of the registered bidders out The United States, others came from Belgium, Canada, China, Costa Rica, India, Jordan, Mexico, Pakistan, and Trinidad–Tobago. In the end, the equipment was purchased from 28 successful bidders.
Coveted items included two 2019 Merlo telehandlers, three 2019 Precision Extraction Solutions automated solvent evaporators, 2019 UIC short path still, 2019 Shimadzu high performance liquid chromatograph, and a Tuffman rotating drum . “The final sale price for these items exceeded Tiger’s expectations with an exciting bidding process,” said Holiday.
The property attracted 157 bids, with Tranzon’s website for the auction attracting 5,215 views from would-be buyers Kentucky, Florida, Indiana, New Jersey, new York, and Pennsylvania. The tender was extremely competitive due to the attractiveness and location of the property. The bid for the property came from a local farm.
“It is evident that the joint marketing efforts of Tranzon and Tiger Group have reached all of the intended target markets and brought in the best buyers,” said Jordan Conlee, Executive Vice President, Tranzon Asset Advisers. “The successful bid of $ 2.1 million far exceeded all expectations, but with a solid group of bidders seeing the upward trend in industrial real estate demand, the winner received an exceptional purchase. “
Media contacts: At Tiger Commercial & Industrial Division, Jonathan vacation, (805) 367-3893, [email protected]; at Jaffe Communications, Elisa Krantz, (908) -789-0700, [email protected], or Bill Parness, [email protected].
SOURCE Tiger Group