Sullivan & Sullivan Auctioneers LLC will be putting the hammer down in Hanson at 1000-1012 Main St. (Route 27) at a foreclosure auction for Sovereign Bank on Friday, Feb. 8 at noon.
The 38,000-square-foot commercial building is partially occupied and offers warehouse, office and retail facilities, according to the Sandwich-based auction firm.
In January 2012, Sullivan & Sullivan sold a property at 68 Industrial Blvd. in Hanson at a public auction. Bidding for that property started at $100,000 and sold for $800,000, the auction firm said.
"With the outlook for commercial real estate continuing to improve in 2013, investors are expected to allocate substantial sums of capital to the commercial real estate market," Sullivan & Sullivan President Marianne Sullivan said in a statement. "Scouring the market for foreclosures and buying them at a bargain, improving the property and leasing and/or selling within a one-year timeframe is what we are currently seeing in the marketplace."
