ORLANDO, Fla., Nov. 18, 2009.... Worldwide Auction Realty Services’ auction of the entire 61,545 square foot 10th Floor of the Plaza on Orange Ave. and Church St. in downtown Orlando scheduled for 5 p.m. Thursday, Nov. 19 has been cancelled.
In a prepared statement, Jon Chipps, managing director for Worldwide Auction Realty Services said his firm was informed by the legal counsel for Plaza LLC, Elizabeth Green, that the United States Bankruptcy Court, Middle District of Florida granted a continuance to parties involved in the Plaza LLC bankruptcy. Green confirmed that the Plaza creditors did not approve the debtor’s reorganization plan and as such, a new hearing date was scheduled for Jan. 18, 2010.
Chipps said Green’s announcement was unforeseen and that the auction had been approved by Plaza LLC managing member, Cameron Kuhn.
Chipps added that the Worldwide Auction Realty Services team had made a considerable investment in facilitating the auction and that he was very disappointed that the parties were unable to reach an agreement.
Chipps also expressed his apologies to any potential auction buyers that had invested their time in preparing to purchase at the auction.
For more information, contact,
Jon or Lori Chipps, Worldwide Auction Realty Services, 800 327-104
Larry Vershel or Beth Payan, Larry Vershel Communications 407 644-4142
Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts
Wednesday, November 18, 2009
Tuesday, October 27, 2009
Bankruptcy Auction of 61,545 Square Feet of Office Condominium Suites in The Plaza in Downtown Orlando to be held Nov. 19
ORLANDO, Fla. – Worldwide Auction Realty Services will conduct an absolute auction of 12 office condominium suites that total 61,545 saleable square feet of space on the 10th floor of The Plaza towers on Church St. and Orange Ave. in downtown Orlando on Thursday, Nov. 19 starting at 5 p.m.
Lori Chipps, auctioneer for Worldwide Auction Realty Services, said the auction is already attracting worldwide interest from investors as well as office-users.
Office condominiums to be auctioned range in size from 2,585 square feet to 7,285 square feet including four private balconies, Chipps said, and feature floor-to-ceiling window views of the downtown Orlando skyline.
“The space to be auctioned spans both the north and south towers including the connecting area between the two towers,” Chipps said.
The bankruptcy auction will accept bids on individual office suites, multiple suites or bulk purchase of all 12 suites, she said.
“The 10th floor of The Plaza is the single largest floor plate in the downtown Orlando district,” said Roger Soderstrom, owner and founder of Stirling Sotheby’s International Realty, the firm representing the property.
“The space to be auctioned has never been offered for sale before as individual office suites, so we anticipate substantial interest from investors, end-users as well as industry observers,” said Soderstrom.
Stirling Sotheby’s International Realty Auction Services conducted an auction of 55,000 square feet of office condominium space in the Plaza towers in May of 2008 that brought an average sale price of $162 per saleable square foot.
The Plaza’s two towers total 394,000 square feet of office space, 105,000 square feet of retail/restaurant space, the 12-screen Plaza Cinema and café on the ground floor and 306 residential condominiums in the Solair tower.
Chipps said the auction will be conducted live on site and the bids will be accepted by telephone and on the Internet. For more information about the auction or to register to bid live or online, telephone 800-327-1048 or visit www.WWAuctionServices.com.
For more information, contact:
Lori or Jon Chipps, Worldwide Auction Realty Services, 800 327-1048
Larry Vershel or Beth Payan, Larry Vershel Communications 407 644-4142
Lori Chipps, auctioneer for Worldwide Auction Realty Services, said the auction is already attracting worldwide interest from investors as well as office-users.
Office condominiums to be auctioned range in size from 2,585 square feet to 7,285 square feet including four private balconies, Chipps said, and feature floor-to-ceiling window views of the downtown Orlando skyline.
“The space to be auctioned spans both the north and south towers including the connecting area between the two towers,” Chipps said.
The bankruptcy auction will accept bids on individual office suites, multiple suites or bulk purchase of all 12 suites, she said.
“The 10th floor of The Plaza is the single largest floor plate in the downtown Orlando district,” said Roger Soderstrom, owner and founder of Stirling Sotheby’s International Realty, the firm representing the property.
“The space to be auctioned has never been offered for sale before as individual office suites, so we anticipate substantial interest from investors, end-users as well as industry observers,” said Soderstrom.
Stirling Sotheby’s International Realty Auction Services conducted an auction of 55,000 square feet of office condominium space in the Plaza towers in May of 2008 that brought an average sale price of $162 per saleable square foot.
The Plaza’s two towers total 394,000 square feet of office space, 105,000 square feet of retail/restaurant space, the 12-screen Plaza Cinema and café on the ground floor and 306 residential condominiums in the Solair tower.
Chipps said the auction will be conducted live on site and the bids will be accepted by telephone and on the Internet. For more information about the auction or to register to bid live or online, telephone 800-327-1048 or visit www.WWAuctionServices.com.
For more information, contact:
Lori or Jon Chipps, Worldwide Auction Realty Services, 800 327-1048
Larry Vershel or Beth Payan, Larry Vershel Communications 407 644-4142
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