RealtyBid.com and Marcus & Millichap Special Assets Group Establish Commercial Real Estate Bidding Website

RAINBOW CITY, Ala., July 7 /PRNewswire/ -- Online Real Estate Bidding Leader RealtyBid.com has partnered with the Special Assets Group of national commercial real estate broker, Marcus & Millichap, to develop CommercialBid.com, a bidding site for commercial real estate assets. The new website officially launched July 1, 2010, with the online unveiling of a special bidding event offering commercial property and commercial loans valued at more than $60 million from the Marcus & Millichap Special Assets Group (MMSAG). Online bidding for this more than $60 million of assets will take place August 3-5 on CommercialBid.com.

RealtyBid.com CEO/President Tony Isbell said now is the ideal time for potential buyers to turn their eyes toward the commercial market.

"RealtyBid has been watching the commercial market for the past two years and evaluating the timing of rolling out a commercial auction strategy," Isbell said. "Our new relationship with MMSAG provided the perfect entree into this market at a time when we can be most beneficial to buyers and sellers."

Isbell emphasized that CommercialBid.com is launching with a bang. "We're launching CommercialBid.com with a Marcus & Millichap special bidding event offering commercial property and commercial loans valued at more than $60 million," he said. "We are so excited about this offering, and it is just the beginning of the investment opportunities we will be offering through CommercialBid.com."

Jacob Steele, director of Marcus & Millichap's Special Asset Group, agreed. "MMSAG's partnership with RealtyBid.com and the creation of CommercialBid.com generate an extremely powerful accelerated marketing process for lenders and private sellers to maximize commercial property and loan values," he said.

Steele added, "The CommercialBid.com online platform has gained immediate traction in the marketplace, as evidenced by our current $60 million-plus non-performing loan and lender-owned property event. Investors are now able to immediately access commercial property and loan opportunities at CommercialBid.com that were previously unavailable to them."

According to Isbell, the new RealtyBid.com online bidding site for commercial real estate will provide an exceptional opportunity for buyers to find properties of value, conduct their due diligence online and place their bids in a fair and transparent process.  "People have been asking us, 'Where do I find good deals on quality commercial assets?' We now have an answer for them."

About RealtyBid.com

Thousands of properties are available each month on www.RealtyBid.com from the nation's largest lenders, builders and real estate brokerage firms. Offering real estate bidding exclusively online since 2001, RealtyBid.com utilizes technology to make real estate transactions less cumbersome and more cost effective for all parties. RealtyBid.com has sold more than 25,000 properties online and was recently ranked as the country's number one sales team in team transactions two years in a row in the Lore Magazine/Wall Street Journal/Real Trends "Real Estate Top 200."

About Marcus & Millichap Special Assets Group

The Marcus & Millichap Special Assets Group (MMSAG) focuses exclusively on Loan Dispositions, Receivership/REO Property Sales and Bankruptcy Transactions to maximize value for commercial property assets. Founded in 1971, Marcus & Millichap has 1,200 investment specialists in more than 70 offices nationwide. Marcus & Millichap's commercial property expertise includes specialization in multi-family, retail, office, hospitality, industrial, land, manufactured housing, self-storage, senior housing, and commercial loan dispositions. In 2009, Marcus & Millichap completed an industry-leading 3,400 transactions, totaling more than $9 billion dollars.

SOURCE RealtyBid.com