Ritchie Bros. Auctioneers, Lincoln, Neb., has officially closed on the property that will become the company's 107-acre permanent auction site north of Raleigh-Durham, N.C.
Construction of a new auction facility, complete with a refurbishment facility and equipment yard, is scheduled to begin in June, with expected completion targeted for mid-2012.
Ritchie Bros. began searching for a larger property to support its growing operations in North Carolina in mid-2009, deciding on the property located in the Falls Lake Commerce Industrial Park, Butner, N.C., in March 2010. The new site will replace the company's 33-acre Statesville, N.C., permanent auction site located approximately 40 minutes outside Charlotte, N.C.
"Ritchie Bros. is very excited about the future opening of our new Raleigh-Durham auction site and we look forward to officially breaking ground this June," said Curt Hinkelman, Sr., vice president of Ritchie Bros. Auctioneers. "The new facility, centrally located within the state of North Carolina, will provide even greater ease of access to the large number of customers throughout the region, as well as expand the services we will be able to provide them, allowing for a more comfortable and convenient auction experience."
The new site has approximately 60 acres of equipment display area with 47 acres remaining undeveloped for future expansion. Ritchie plans to build a 33,000-square-foot auction facility with seating capacity for 575 in its fully enclosed theater. The site's auction facility will also house a second auction theater with a virtual ramp and seating capacity for 300 people. In the virtual ramp theater, large photos of stationary lots are projected onto a large screen in front of a seated bidding crowd.
The new facility will also house 10 Timed Auction Lot (TAL) kiosks that will allow customers to bid on smaller items, such as attachments and consumer goods, in an online timed auction. Bids are placed a few days before and during the live auction, either online using on-site internet kiosks or mobile devices, or by proxy.
Construction of a new 16,000-square-foot refurbishing facility, complete with equipment wash area and painting and blasting booths, and a 2,400-square-foot equipment check-in building, is also planned. Other amenities will include an on-site catering facility offering food services, free wireless internet, and a 10-acre customer parking lot.
"We look forward to welcoming Ritchie Bros. to the town of Butner as well as the sales tax and property tax Ritchie Bros. is expected to generate for Granville County and the state of North Carolina," said Jay Tilley, director of Granville County Department of Economic Development. "Our excitement is now focused on working with Ritchie Bros. through the construction phase of the project and with the opportunity to welcome people from around the world to the region once the new facility is complete."
Ritchie Bros. will continue to conduct unreserved auctions at its Statesville auction site until the new site is complete. The next auction at the Statesville location is set for the end of June 2011. The company will be exploring different options for disposition or redevelopment of the Statesville property upon relocation to the new site, including soliciting offers to lease or purchase.
An official ground-breaking ceremony at the Raleigh-Durham auction site, with local dignitaries and representatives from Ritchie Bros. present, will be held on June 10th.
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