Goihgr goingr gonerrr Lumbe ryard auctions dispose of invento ryt properties

in a timely manner," said Ken Zakin, senior managing director of Newmark Knight Frank, an international real estate advisory firm. "Tranzon is a leading auctioneer and we expect these auctions to allow our client an acceptable exit given a difficult climate."

The Gores Group, a private equity firm based in Los Angeles, Ca., bought 5lvo of Stock, while parent Wolseley kept a 49Vo interest in the company. Of the chain's more than 200 locations, only 100 in l9 markets were kept open.

f, ucrroNs oF sHUTTERED FAcrLrrrES and surplus invento.Cl,ry have become a sure sign of the economy's effect on lumber and building material dealers and distributors.

"This is a buying opportunity and very indicative of a major trend in the market today," said Joshua Olshin, president of auctioneer Tranzon Integrated Property Group. "Banks are not the only ones selling properties in what might be referred to as the current buyer's market."

On Dec. 5, Vogel Auctions presided over the sale of Monticello Lumber's building and property in Monticello, In. The store had already liquidated its inventory after closing Nov. 15.

On Dec. 9, The Auctioneers Group oversaw a complete business liquidation of Newmeyer Lumber, Rahway, N.J. Up for sale were inventory, yard and office equipment, and warehouse supplies.

On Dec. 12, Kimble & Ratliff auctioned off excess inventory and equipment from Meyer Lumber, Oskaloosa, Ks., and King City Lumber, King City, In. King boughr Meyer in September and changed its name to Oskaloosa Lumber.

On Dec. 22, Rosen Systems conducted an online auction of the inventory of United Building Products' final location in Dallas, Tx. The roofing products firm started 20 years ago and was based in Albuquerque, N.M.

In mid-December, Tranzon Integrated Property Group started auctioning off the first of 25 surplus properties in 14 states as part of the post-bankruptcy liquidation plan for Stock Building Supply.

"On behalf of our client, we have chosen the auctionprocess as the most efficient method to market and sell a large portfolio of properties in order to maximize proceeds

The Stock auctions consist of shuttered facilities, as well as several lots that were acquired for expansion but never used. The first set of auctions, held Dec. 15 and 16, included a nine-acre lot located in Salisbury, Md.; a 210,000-sq. ft. warerehouse/manufacturing/retail facility in Acworth, Ga.; a 131 ,924-sq. ft. industrial facility on more than 40 acres of land in Sanford, N.C.; a 50,000-sq. ft. manufacturing building on four acres in Durham, N.C.; a 34,400-sq. ft. warehouse/manufacturing facility on I I acres in Hendersonville, N.C., and a 5l ,942-sq. ft. office/warehouse with covered storage on 20+ acres in Timmonsville, S.C.

The next round of Stock auctions will be held the middle of this month, disposing of property in Oldsmar, Pasco County, and Spring Hill, F1.; Waterford, Mi.; Forest Lake and S. St. Paul, Mn.; Dayton, Oh.; Paradise and Kinzer, Pa.; Beaumont, Tx., and Delavan and Green Bay, Wi., as well as in Wyoming,Idaho, Utah and California.

By Loren Krebs