Customer Spotlight: Inside Target's City Center Liquidation, Part 1

Target moved into its City Center offices in 1983. Spanning 35 floors, the expansive location included:

• Office Spaces
• A Sprawling Cafeteria
• Dedicated Breakrooms on Each Floor
• An extensive basement for storage and overflow items.

The large location was no longer needed once the company moved to a hybrid work environment, so they decided to shut down the facility. That's where Grafe Auction came in. Already partnering with Target stores nationwide for fixture liquidations, Grafe Auction was the natural choice when the time came to auction off assets from Target's Royalston photo studio in Minneapolis. Given our success there, we were soon entrusted with the City Center location. To date, we've executed three auctions for this site, and more are on the horizon.

Logistics

Target's City Center offices presented some unique challenges due to its location and size:

• The building itself has other tenants, so during the week, the Grafe Auction team worked around others using the two available freight elevators.
• Due to the building's size, Grafe auction staff put together guide maps for bidders and staff to help navigate through the building.
• The check-in process itself was a challenge to begin with. During the week, bidders are directed to security on the second floor, but on the weekend this area is closed. Therefore, check-in moves to the loading dock during this time, and all of this must be communicated to bidders and staff.

Fortunately, the building is equipped with a well-designed loading dock, streamlining the pickup process for customers with winning bids.

By the Numbers (So Far)

Grafe Auction has completed three auctions for the City Center location so far, so these numbers will increase as time goes on (stay tuned for future updates!). For the auctions there were:

Grafe Auction marketing uses targeted digital efforts to reach the right bidders. For the campaigns so far, these are the results:

What's Next?

There are still several floors that will be auctioned off, but the number of auctions is still to be determined. Target may keep some of the items and choose not to sell everything. However, the next auction is planned for the end of September. Director of Logistics, Ben Grafe, named some interesting items that he thinks bidders will be interested in:

• Bluetooth pod chairs - sit in one of these and immerse yourself in your next podcast or music of choice.
• A sound studio.
• Cool furniture (this has been a fun part of the auction so far - several of the floors have unique furniture options).

Grafe Auction's collaboration with Target City Center showcases the complexities and challenges inherent in large-scale auctions. Yet, with the combination of our expertise and Target's trust, we've transformed challenges into success stories. From unique furniture pieces to state-of-the-art tech equipment, each auction is more than just a transaction; it's a testament to innovation, efficiency, and collaboration. As we anticipate more auctions in the near future, we remain committed to delivering impeccable service to both our clients and bidders. Stay tuned for more updates in Part 2!