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Frisco Retail Lease Auction - 5 Day Sale Auction Info.  E-mail

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Frisco Retail Lease Documents

Auction Bidding Information & Method

This Frisco Retail Lease Auction will be:
1. Scheduled To Be Auctioned online to the Best Bidder August 14, 2014  2:00 PM MST
2. Open For Bidding -- Starting Bid $6 NNN Per Square Foot

Neither you (bidder lessee), nor the owner (lessor), are bound by any lease bid until this Frisco Station retail space is available for viewing, the 5 Day Sale is held by the owner (lessor), and both the lessee and lessor have contractually agreed to the terms of a real estate lease.

Property Address:
To Come
Auction Registration >>

Auction Bidding Method:

• Initial bids can be left in any amount but must be verified by 2:00 PM MST Thursday, August 14, 2014.
• Initial bids can be changed until 2:30 PM MST Thursday.
• The bidding will be open and can be viewed in the virtual auction room.
• Final telephone round-robin bidding will begin at 2 PM MST Thursday. The highest bidder will receive the first call to let him/her know that the bidding has begun. The next best bidder will then be called and given the opportunity to top the best bid, and so on down the list.
• Every bidder will have the opportunity to top the high bid until the "best bidder" is established.
• If there is more than one bid at the same level, the earliest bid will be honored.
• Bids annual "Triple Net (NNN)" rates must be at least $0.25 apart. ($6.25…$6.50…$6.75…Etc.)
• When the final bidding has completed, the best bidder will have 48 hours to arrange to meet all the lease execution requirements within a satisfactory time. Otherwise, the second best bidder will be given the opportunity to lease the space.
• As with any real estate transaction, there is no legal obligation to purchase or sell until a lease agreement is executed.



Real Estate Auction Definitions:

"International Bidder:”
Any bidder domiciled outside of United States including Alaska & Hawaii

“Out-of-Town Bidder:”
Any bidder domiciled outside of Frisco, Colorado, USA

“Best Bid:”
That bid determined by the lessor to be most qualified given price considerations including lessor's perception of a given bidders ability and willingness to close the lease transaction in a timely manner with good funds

“Formal Notice of Lease Auction Award:"
The lessor may notify the “Best Bidder” by phone, facsimile, email, and/or registered mail. All such forms of notification will constitute legal “Formal Notice of Lease Award”

“Best Bid Award Price:”
That “Best Bid” price (annual NNN lease rate) that through the “round-robin” bidding process the lessor awards the lease auction space to

“Buyer’s (Lessee) Premium:”
There are no "buyer's premiums", fees or charges associated with this retail space lease auction format to the best bidder (lessee).

 

Brokers Welcome

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