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Milton Realty to Offer Real Estate Auction Services
 
LYNCHBURG, Va. --- Milton Realty Service Company, Inc., one of Central Virginia’s largest full-service commercial real estate firms, announced today that it has added real estate auction activities to its array of services offered to clients throughout the region.

The company’s new auction services are being conducted through a cooperative agreement with real estate auction company Tranzon Fox, a successful 15-year-old auction services firm handling asset sales by auction in Virginia, Maryland, Washington D.C., North Carolina and West Virginia. Tranzon Fox is one of 14 member companies of national real estate auction company Tranzon, L.L.C., headquartered in Richmond, Va.

“These new auction services are a natural extension of the many services we currently offer, such as commercial brokerage, development, leasing and property management,” said Milton Realty President Norman Moon. “In today’s real estate environment, we believe it is important to be able to offer clients choices such as an auction, which can provide quick and efficient execution of a real estate sale. A well-planned and well-run auction sale often allows a client to realize the highest possible value for real estate in the shortest period of time, usually four to six weeks from the time a listing agreement is signed,” Moon said.

“We also are fortunate to have Tranzon Fox as a partner in our new auction service. This is an experienced and talented firm with a highly successful track record in the Mid-Atlantic area, and nationally through its partnership and resources in Tranzon, L.L.C. Tranzon’s member companies conducted more than 700 real estate auctions of over 100 properties in 2005 alone, and its website attracts move than 13 million hits per year. Tranzon is a powerful group of auction companies operating in virtually every state in the U.S., and we hope to use this national reach to further serve our real estate investment clients in this area,” Moon said.

According to Milton Realty Vice President Chris Gentry, typical client situations appropriate for sale by auction would include corporate surplus property, previously listed properties, trust and estate sales, investment group liquidations and close-outs, sales of businesses, trophy properties, and properties that an owner wants sold very quickly.

“We recognize that being a successful real estate company doesn’t automatically make you a great auction company, and vice versa, which explains the reasoning behind teaming up with Tranzon Fox,” Gentry said. “By combining, rather than dividing our resources, we are able to better serve our clients in both the traditional brokerage assignments and the auction assignments. The expertise that Tranzon Fox brings to our organization allows each member of the team to focus on our strengths for the maximum benefit of our clients.”

About Tranzon Fox and Tranzon, L.L.C.
Tranzon Fox, headquartered in Virginia Beach, Va., is a full-service real estate auction company and a member company of Tranzon, L.L.C, which is based in Richmond, Va. Tranzon L.L.C. includes 14 member auction companies that collectively operate more than 20 offices coast-to-coast. Last year the member companies of Tranzon auctioned more than 1,000 properties, and since its founding in 2001 properties have been auctioned in 45 states and the District of Columbia. The professionals working at Tranzon member companies specialize in providing real estate, business asset and liquidation auction and accelerated marketing services to corporations, financial institutions, trustees, individuals and estates throughout the U.S. The member companies of Tranzon are independently owned and operated. For a complete listing of all auctions visit the website at www.tranzon.com.