Tranzon Auction Properties has completed the transaction of 15 gas station and convenience stores located across Massachusetts and Southern New Hampshire.
Tranzon Auction began marketing the portfolio of foreclosure properties for TD Bank in early June, attracting over 300 potential buyers from the continental US and Canada. The auctions began June 21st and concluded on the 29th. Sales of the properties totaled over $8.5 million.
Thomas Saturley, president of Tranzon Auction, said of the sales, "The foreclosure process creates special challenges for the successful marketing campaign of a project auctioning 15 C-Stores. Working with Ransom Environmental of Portsmouth, NH and the law firm of Bowditch & Dewey of Worcester, Mass., we were able to timely provide prospective purchasers initial due diligence information allowing them to accomplish the necessary pre-auction investigation necessary to be successful bidders. The results of these sales clearly demonstrate the effectiveness of the methodology as well as the continuing strengthening of our economy."