RealtyBid.com, Rainbow City, Ala., has partnered with a division of national commercial real estate broker Marcus & Millichap, to develop a bidding site for commercial real estate assets.
The new website, CommercialBid.com, officially launched July 1 with the online unveiling of a special bidding event offering commercial property and commercial loans valued at more than $60 million from Marcus & Millichap's 'Special Asset Group.'
Online bidding for this more than $60 million of assets will take place August 3 - 5 on the site.
"RealtyBid has been watching the commercial market for the past two years and evaluating the timing of rolling out a commercial auction strategy," said company CEO Tony Isbell.
Jacob Steele, director of MMSAG, said the partnership and creation of the website will generate an "extremely powerful accelerated marketing process for lenders and private sellers to maximize commercial property and loan values."
