Manheim Auto Auctions, an automotive auction division of Cox Enterprises Inc. Manheim operates 130 auto auction facilities worldwide and is the world’s largest provider of vehicle remarketing services.
Manheim chose Galaxy Partners to evaluate and determine strategy for the disposition or development of three surplus properties in Nevada, Illinois and Virginia.
Galaxy performed hands-on, comprehensive site evaluation studies in all three markets. One property in Las Vegas, NV showed substantial development potential. Galaxy then created a development plan for the site which demonstrated a value that was double the client’s initial expectation. A year later, the client elected to sell the property and again engaged Galaxy Partners. Using a creative marketing approach, Galaxy was able to secure the highest value for the property.
Galaxy Partners aided Manheim Auto Auctions in divesting a surplus property which sold for triple the client’s original valuation, setting a new benchmark for price-per-acre land value in its Las Vegas sub-market.
