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Posted: 5/17/2018
Former BB&T branches going up for auction in Triad and across North Carolina
By Luke Bollinger Reporter, Triad Business Journal May 17, 2018, 1:16pm EDT Updated May 17, 2018, 1:41pm

Eighteen bank branches will sell at auction on May 31 and will include one former BB&T branch in the Triad and three others across North Carolina

John Dixon and Associates will conduct the auction at the Marriott in Winston-Salem. The former BB&T and BancorpSouth branches up for auction are located across seven states: North Carolina, Virginia, Pennsylvania, Arkansas, Tennessee, Mississippi and South Carolina.

BB&T CEO Kelly King had announced in September that the bank would be shuttering 140 locations nationally, an increase from the 100 that it had indicated only a few months earlier in April. That represented about 6 percent of its locations, with King explaining that, ""For the last 10, 15 years, we’ve been kind of handicapped, because we’ve been having to deal (with) the digital system, while at the same time we’ve been having to carry along the traditional brick-and-mortar systems without much opportunity to rationalize the cost on the traditional system. That is changing very quickly now."

Twelve of the branches being auctioned, including the four in North Carolina, will sell absolute, with no reserve, meaning the highest bid will not have to surpass a minimum threshold to be sold.

One of the former BB&T branches is located in Denton, in Davidson County, at 94 N. Main St.

According to Davidson County tax records, the 2,304-square-foot building is valued at $301,340 and the land is valued at $20,250, representing a total market value of $321,990.

A list of the three other BB&T branch locations in North Carolina with tax record data:

  • 3201 First Ave. SW, Hickory, with a total market value of $413,500.
  • 2451 Soco Road, Maggie Valley, with a total market value of $285,700.00.
  • 140 N. McKinley St., Coats, with a total market value of $396,600.

"The Wall Street Journal recently reported that banks are closing branches at the fastest rate in decades due to customers' increased use of smartphone apps, websites and ATMs. This auction, which includes branches offered by two large regional banks, allows them to get these empty buildings off their books, while providing quality locations for other banks, credit unions and other businesses," said John Dixon, president of the auction company.

Dixon noted that most of the buildings are located in areas with good traffic and can be adapted for multiple uses, including office space, retail, food services and others. 
Posted: 5/14/2018
Major auction of bank branches in up to seven states set for Winston-Salem auction
By

WINSTON-SALEM, North Carolina (May 14, 2018) -- Nineteen bank branches in seven different states will sell at auction Tuesday, May 31, with John Dixon & Associates conducting the auction. Thirteen of the branches will sell absolute, with no reserve.

The auction will include five branches in North Carolina, five branches in Virginia, three in Pennsylvania and two in Arkansas. Other branches are located in Tennessee, Mississippi, and South Carolina. Among the North Carolina properties are branches in Hickory, Denton, Maggie Valley, Broadway and Coats.

“The Wall Street Journal recently reported that banks are closing branches at the fastest rate in decades due to customers’ increased use of smartphone apps, websites and ATMs. This auction, which includes branches offered by two large regional banks, allows them to get these empty buildings off their books, while providing quality locations for other banks, credit unions and other businesses,” said John Dixon, president of the auction company.

“Most of these are quality buildings in locations with good traffic. Even as the big banks close branches, many other businesses are growing and in need of quality space. Of course, most of these buildings can be adapted for a wide range of uses, including office space, retail and even food service. Some buyers will probably get some great deals on these, because most are selling with no reserve. Getting these branches sold will open the way for new businesses and help the local economies,” said Dixon.

The auction will begin at 11 a.m. at the Marriott Winston-Salem, 425 North Cherry Street, Winston-Salem, N.C. Remote Internet bidding available by prior arrangement. Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763. 
Posted: 5/1/2018
Real estate from 12 states to sell in two-day auction
By

ATLANTA, Georgia (May 1, 2018) -- More than 300 properties across the Southeast and beyond are set for auction May 15-16, with John Dixon & Associates conducting the event. The real estate is grouped into 87 offerings, including residential and commercial land, waterfront home sites, homes, and commercial buildings.

The auction will begin at 2 p.m. each of the two days, with live bidding at the Mansour Conference Center in Marietta and remote bidding via Internet by prior arrangement. Remote bidders will be able to see and hear the bidding and converse with a bid assistant, competing in real time with on-site bidders.

Included in the auction are properties in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and West Virginia.

“This is one of our Multi-Seller auctions, so we have a number of different sellers – investment funds, financial institutions, individual investors and individuals – offering real estate during these two days. Most folks will want to focus on the properties in areas where they live or run a business, and they can either come to Atlanta or bid remotely. But we do emphasize that people need to look at any property on which they plan to bid,” said John Dixon, president of the auction company.

“We have a number of investment homes, home sites on lakes and golf courses, and some commercial buildings, especially in Georgia. For example, there’s an office building in Valdosta, a service station in Adrian, and an industrial warehouse in Cairo,” he said. 
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