Multi-property land auction coming to the region

Auction company, Realtors team up for June event

By: George Spohr
   PLAINSBORO — Auctions will take on a new twist in June, when builders, developers and investors will have the chance to bid on multiple- development properties.
   Traiman Auction Co. and the Land Development Group of Prudential Fox & Roach Realtors partnered to produce the auction event, geared toward Central Jersey, Philadelphia and its suburbs, and Delaware.
   Raw land, approved land, renovations and demolition projects will be included. The Land Development Group of Prudential Fox & Roach and the Traiman Auction Co. are in the process of securing sellers and reviewing acceptable properties for the event.
   The auction process allows sellers to close quickly and bidders to discover real property values, organizers said.
   "In today’s booming market, this type of multiple-owner, multiple-property live auction event brings together an audience of experienced developers who are capable of purchasing any size property in a single day," said Doug Clemens, Traiman’s chairman and CEO. "The sellers get the benefit of having the greatest number of buyers ever to learn that their property is available and through competitive live auction bidding will learn what the market believes their property is worth."
   Traiman Auction Co., one of the region’s leading real-estate auction organizations, has sold virtually every type of real estate from coast-to-coast since its establishment in Philadelphia in 1924, Mr. Clemens said.
   The Trident Group, the financial services affiliate of Prudential Fox & Roach Realtors, will provide mortgage financing, title, property and casualty insurance.
   Prudential Fox & Roach Realtors, Land Development Group will facilitate securing sellers, organizers said.
   Traiman has conducted real estate auctions for Fortune 500 companies, such as Rockwell International, General Electric and Plainsboro-based Siemens International, and for thousands of private individuals, municipalities, federal and local courts, law firms, school boards, banks and real-estate brokers.
   Prudential Fox & Roach Realtors is an independently owned and operated member of the Prudential Real Estate affiliates Inc., with offices throughout Central Jersey. The fifth-largest total home-services company in the United States and the largest single-market Realtor in the country, Prudential Fox & Roach provides services to its clients that include mortgage financing, titles, and property and casualty insurance through its affiliate, the Trident Group.
   
Interested sellers can contact the auction’s director, Wendy Amato, at (856) 296-8197 or via e-mail.