Auctions bucking tradition: sales method no longer last resort in real estate.

In the not-so-distant past, a real estate auction meant one of only two things.

"It used to be who died or who went bankrupt," said Bob Getts, local director of auction services for Indianapolis-based commercial real estate brokerage Colliers Turley Martin Tucker.

But over the last decade or so, real estate auctions have come out of the shadows, and are no longer viewed as a last resort for owners desperate to unload a property.

These days, no property is considered too good for the auction block. Last year, Class A office space in the sought-after Meridian Corridor traded hands via a sealed bid auction. The buyer of Meridian Corporate Plaza, locally based developer Lauth Property Group Inc., has since established its headquarters at the site.

"It's a …