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Compass President Paige Holt on WDEF News 12’s Let’s Chatt

Paige Holt, President of Compass Auctions & Real Estate, appeared with Chip Chapman on the popular morning program Let’s Chatt which airs on WDEF News Channel 12.  She was discussing the auction and real estate industry.

Compass Auction & Real Estate is the only State of Tennessee Women’s Business Enterprise certified Auction & Real Estate at Auction Company in all of Tennessee.

Auction Buyer Snaps Up Developable Downtown Parcels For $9M

June 27, 2017 Dees Stribling, Bisnow National

Developable land is fairly rare in Downtown Nashville, so the rush was on last week among the 30 attendees of an auction in Nashville to sell two adjacent parcels on the James Robertson Parkway. The land is especially attractive because it is zoned for a variety of uses. In the end, the roughly two acres sold for nearly $9M.
auction james robertson parkway nashville tnCourtesy of Compass Auctions & Real Estate
450-460 James Robertson Parkway
The winning bidder will be disclosed after closing of the sale, probably in early August. The seller was the State of Tennessee, which used the auction to dispose of surplus land in a way that would take advantage of the brisk demand for developable sites in Nashville.
The sale actually offered two parcels, though they are adjoining: the vacant 0.9-acre 450 James Robertson Parkway and the 1.2-acre 460 James Robertson Parkway, which also includes a 45K SF office building. The auction was structured so the parcels could be sold separately or together.
 
Compass Auctions & Real Estate
VP of National Development Justin Ochs
“Comparables in the area have been all over the place,” said Compass Auctions & Real Estate Vice President of National Development Justin Ochs, who oversaw the auction. “So the auction was a way to determine what the value of the properties was.”
The sale attracted a lot of attention nationally, Ochs said, which was partly a function of Nashville being so well known now as a hot market.
“There were 68 direct requests for due diligence documents from a wide gamut of interested parties. That was because [the] market itself is growing by 100 people a day, but also because that much developable land Downtown is hard to come by.”
The location is zoned to encourage a mix of compatible land uses, Ochs said, though it is too early to know what the buyer plans to do with the site.
“It’s about three blocks from the LifeWay redevelopment, so there’s a lot going on in the area.”

State offices in Nashville sell for $8.9 million

Originally reported in Chattanooga Times Free Press
June 23rd, 2017 by Dave Flessner in Business Around the Region


A Chattanooga-based auction company said today it sold two state properties in downtown Nashville for $8,925,000.

Compass Auctions and Real Estate, which conducted the sale, said 30 parties registered for the auction. The winning bidder will remain confidential until after closing on or before Aug. 7.

Paige Holt, president of Compass Auctions & Real Estate, said the Nashville market attracted a lot of interest.

“Real estate in this market is in high demand, and a property of this size is a rare opportunity,” she said.

The properties, located at 450-460 James Robertson Parkway, include 2-plus acres located on the north side of James Robertson Parkway and Gay Street, with frontage on the south side of Fourth Avenue North.

“We are extremely pleased with today’s auction,” said Justin Ochs, vice president of national development for Compass. “We believe our national marketing efforts attracted the most qualified pool of buyers for this particular asset and are honored to have performed the auction on behalf of the state of Tennessee.”

The location is zoned in order to encourage a mix of compatible land uses that provide opportunities to live, work and shop downtown.

auction downtown nashville properties james robertson parkway

CHATTANOOGA-BASED COMPASS AUCTIONS & REAL ESTATE ANNOUNCES $8.9 MILLION SALE OF DOWNTOWN NASHVILLE PROPERTIES

 

NASHVILLE (June 23, 2017)Compass Auctions & Real Estate LLC, a Chattanooga, Tenn.-based auction and real estate company with offices in Tennessee, Georgia and Kentucky, announced an $8,925,000 sale of two large adjacent properties in downtown Nashville on Wednesday, June 21, on behalf of the state of Tennessee. The winning bidder will remain confidential until after closing on or before Aug. 7, 2017.

The auction took place at the Hermitage Hotel and had more than 30 attendees.

The properties, located at 450-460 James Robertson Parkway, include 2-plus acres located on the north side of James Robertson Parkway and Gay Street, with frontage on the south side of Fourth Avenue North.

“The Compass team created an exceptional in-depth marketing approach that was targeted toward individuals and entities that would have an esoteric knowledge of the investment opportunities that this property provided in the Nashville downtown area,” said Paige Holt, president of Compass Auctions & Real Estate. “Real estate in this market is in high demand, and a property of this size is a rare opportunity.”

“We are exceptionally proud of the efforts of our team to bring this premier piece of real estate to the auction stage,” Holt stated.

“We are extremely pleased with today’s auction,” said Justin Ochs, vice president of National Development for Compass. “We believe our national marketing efforts attracted the most qualified pool of buyers for this particular asset and are honored to have performed the auction on behalf of the state of Tennessee.”

The properties include approximately 2.1 acres offered in two separate, but adjoining, parcels and as a whole. 450 James Robertson Parkway consists of approximately 0.87 acres (38,025+/- square feet), and 460 James Robertson Parkway consists of approximately 1.18 acres (51,296+/- square feet) with approximately 45,294 square feet of office space.

The location is zoned in order to encourage a mix of compatible land uses that provide opportunities to live, work and shop downtown.

compass auction sells downtown nashville properties

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About Compass Auctions & Real Estate
Compass Auctions & Real Estate, a woman-owned Chattanooga-based auction and real estate company, offers a host of auction and real estate services, including live, online and webcast auction events. The Compass team has over 50 years of combined experience with government surplus, heavy equipment, vehicle fleet, farm and ranch, estate, luxury asset, and charitable auctions. Compass is a certified woman-owned business and is headquartered in Chattanooga, Tenn., with locations in Nashville and Lebanon, Tenn., Atlanta, and western Kentucky.

Compass Auctions Congratulates Pink! on Being Voted BEST SPECIAL EVENT

Compass Auctions Congratulates Pink! on Being Voted BEST SPECIAL EVENT

 

Pink! is a celebration of life for breast cancer patients and survivors raising more than $2.4 million since 2006 to benefit the MaryEllen Locher Breast Center, ensuring our community has access to the most advanced breast cancer treatments available.

The MaryEllen Locher Breast Center works to maintain the highest level of breast care available by following the stringent guidelines of the American College of Radiology (ACR®), the National Accreditation Program for Breast Centers (NAPBC®), and the National Consortium of Breast Centers.

Pink! also helped fund Memorial’s two Mobile Health Coaches which travel thousands of miles each year, visiting 24 counties in Eastern Tennessee and five counties in North Georgia. The 40-foot coaches provide the latest in breast cancer screenings to women, many of whom might not otherwise have been able to afford or access screenings. In 2014, more than 4,500 women received screenings on the coaches.

The Benefit Auction Division at Compass Auctions & Real Estate has been involved in helping Pink! plan and execute successful fundraising auctions for the last several years.  Benefit Auction Specialist and Compass President, Paige Holt, looks forward to the opportunity to assist organizations like Pink! conduct a prolific event.  ”We work diligently prior to the event and behind the scenes to strategically create a fluid and prosperous event for our organizations,” commented Mrs. Holt.  ”Having a professional auctioneer and auction staff in place to pilot the fundraising portion of the event is the key to success.”

Pink! was voted BEST SPECIAL EVENT by the readers of the Chattanooga Times Free Press for 2013 and 2014. The Pink! committee and staff of Memorial Foundation are grateful for the support by the community for this event.

 

 

 

 

 

Pink! 2016 will be held on Saturday, January 30, 2016.  Contact Team Compass to help you develop your next fundraising event.

(423) 702-6180 – Chattanooga Corporate

(615) 757-3339 – Nashville Division

By Justin Ochs |

Compass Auctions Making Headlines in Bloomberg Business Week

stator pic from news sentinel-by Adam LauBloomberg.com
Businessweek.com

Bloomberg Businessweek

ENERGY SECTOR
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OIL, GAS & CONSUMABLE FUELS INDUSTRY
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Surplus TVA equipment finds new life through auctions [The Knoxville News-Sentinel, Tenn.]

Oct. 12–Surplus TVA equipment finds new life via auctions

It’s very easy for a valve meant for a TVA power plant to have a career in an oil refinery or a paper mill instead.

Don Williams, co-owner of Mobile, Ala.-based Industrial Valve, said that’s why his company bought about $90,000 worth of valves at a recent TVA auction.

“Valves are a very general piece of equipment and can cross industries very easily,” he said.

And that’s why he plans to go back to Hartsville, Tenn., when TVA holds two more auctions there Oct. 22 and Nov. 19, both at 9 a.m. CST.

“I would say about 95 percent of the material is new and unused,” Williams said. “For a surplus dealer, when you buy something you don’t have to put a lot of labor into in order to sell it, that’s great.”

The Tennessee Valley Authority is liquidating about $30 million in surplus materials and equipment through three auctions, the first of which was held Sept. 24.

Chattanooga-based Compass Auctions is handling the auctions, which are held at TVA’s warehouses at 488 J.D. Hood Lane in Hartsville, which is northeast of Nashville.

About 22,000 lots of inventory will be on sale at the October and November auctions. TVA spokesman Scott Brooks said this means many more than 22,000 items, though.

“One lot might be 500 bolts,” he said.

There are five warehouse buildings full of industrial equipment and materials to be auctioned, said Paige Holt, president of Compass Auctions. Inventory includes a wide range of surplus equipment, road trucks, trailers, heavy equipment, forklifts, Mack trucks, electrical equipment, transformers, valves, pumps, hydraulic cylinders and other items.

The Hartsville facility is on the site of a nuclear plant that TVA began building in the 1970s but then canceled construction in the mid-1980s. Hartsville is a major holding facility for surplus inventory from all over TVA’s seven-state service area, Brooks said.

The federal government-owned utility provides electricity for business customers and local power companies that serve some 9 million people in parts of seven states.

TVA’s Investment Recovery division, based in Chattanooga, keeps track of the surplus inventory and tries to sell it and get the best return for TVA, Brooks said.

These items are things that TVA bought but did not use. They might be materials and equipment left over from a project at a TVA site or just a case of not needing all items that were ordered.

“In most cases, TVA will try to sell it back to where we bought it, but if we can’t, we will look to see if we can reuse it in some way,” Brooks said.

If a use can’t be found, the item is declared surplus and sent to a holding center for auction.

Although TVA has instituted several cost-cutting initiatives this year, the auction is not part of that, Brooks said. TVA holds auctions from time to time as it accumulates surplus inventory, he said.

“We just decided this was a good time,” he said.

Holt said her company has worked with TVA on auctions before. In May, Compass auctioned surplus inventory from a TVA project to replace steam generators at its Sequoyah Nuclear Plant. The inventory there ranged from radiation monitoring equipment to fire extinguishers, welding equipment, hand tools, sheet metal and other items.

The TVA auctions draw an assortment of buyers, Holt said.

“We will have everything from industrial surplus companies to scrap and metal yard companies, power and energy companies, construction companies,” she said.

The Sequoyah auction drew about 640 people to the site and the September Hartsville auction drew about 400, Holt said. She expects about 400 people at the next two Hartsville auctions. People are able to take part in the auctions either in person or online through the company’s website, Holt said.

TVA’s auctions not only help her company and the buyers, but also allow TVA to get some money back to help keep electric rates lower, she said.

Williams said his company makes good use of auctions such as those held by TVA. Industrial Valve, which has operations in Alabama, Louisiana, Indiana and Cleveland, Tenn., provides various valve-related products and services, but a good bit of its focus is on surplus valves.

The company markets these as “better than new” valves that have never been used but which it sells at a discount price and with a warranty.

It also touts the quick availability of the valves compared with the time it can take a customer to order a new valve. The valves he buys at auction from TVA will pass from his company to many others, Williams said.

“We have a clientele that includes power companies throughout the Southeast, like Entergy and Southern Company, but we also do a lot of business with refineries such as Chevron, and we do paper mills,” he said.

 

 

 

 

 

 

 

 

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Image: Adam Lau – Knox News Sentinel