CBC Saunders forms auction division

Coldwell Banker Commercial Saunders Real Estate, a Lakeland-based commercial real estate brokerage firm, has formed a new division to auction commercial and residential properties.

Saunders Auctions LLC is a venture with Auction Consulting Experts of Plant City.

The pair's first auction, of nine condominiums in Steinhatchee, exceeded expectations with sales topping $500,000. A second auction is scheduled for Aug. 26, of an 11-acre commercial tract in Fort Myers. The company also hopes to auction off former golf course land in Polk County at the end of next month.

Although commercial real estate auctions have historically been associated with distressed property sales, CBC Saunders' President Dean Saunders says they're simply another methodology for bringing properties to market.

“Auctions are just another avenue for us,” Saunders says. “I think they can be effective in any market, and I love the idea of using them in a seller's market because they bring in a multitude of buyers together to compete. Auctions create activity.”