CCIM Feature

Deal Makers

The Biggest Deal

David J. Stevens, CCIM, of Investment Properties Corp. in Naples, Fla., represented Hoffman Commercial Real Estate in the more than $74.3 million purchase of seven buildings including 73,523 sf of street-level retail space and 48,753 sf of office space in Naples from Naples Fifth Avenue Holdings LLC.

Office

Big Deal

Andrew Sumlin, CCIM, of Cushman & Wakefield in Atlanta and a partner represented iStar in the more than $38.7 million lease of 162,369 sf of office space in Atlanta to an undisclosed lessee.

Cathy Jones, CCIM, of Sun Commercial Real Estate in Las Vegas and four partners represented Red Rock Capital LLC in the $12.2 million sale of the 74,010-sf Red Rock Business Center in Las Vegas to Arsenault Holdings LLC.

David J. Stevens, CCIM, and Clint L. Sherwood, CCIM, of Investment Properties Corp. in Naples, Fla., negotiated the $8.1 million sale of the Coventry Square office buildings in Naples to Lamvest888 LLC.

Matson Holbrook, CCIM, and Patrick Gallagher, CCIM, of Siegel-Gallagher in Milwaukee represented RFP Office LLC in the $7.5 million sale of the 108,000-sf Riverfront Plaza in Milwaukee to Andover Portland Avenue Associates LLC.

Elizabeth Clare, CCIM, of Avison Young in Las Vegas represented Jaz Investments in the $6.2 million purchase of the 47,623-sf Pavell Medical Center in Las Vegas from JPNP Investments.

Ember Grummons, CCIM, of Investors Realty in Omaha, Neb., and a partner represented Jasper Stone Bellevue Professional LLC in the more than $5.1 million sale of the 5,020-sf Bellevue Professional Center in Bellevue, Neb., to a private investor.

N. Justin Cazana, CCIM, and John M. Adams III, CCIM, of Avison Young in Knoxville, Tenn., represented Cooper Realty Investments in the $4.7 million sale of the 61,896-sf Brookvale II office property in Knoxville, to Blue Ridge Development LLC.

Christopher Fraser, CCIM, of Avison Young in Mount Pleasant, S.C., and a partner represented 1400 Hospital Drive LLC in the $4.4 million sale of a 12,258-sf office property in Charleston, S.C. to Addco LLC.

Salina Ramirez, CCIM, of Commercial Executives Real Estate Services in Las Vegas represented Premier Plaza LLC in the more than $4 million purchase of a 34,426-sf office project in Las Vegas from an undisclosed seller.

Retail

Big Deal

Frank Pipgras, CCIM, of Frank Pipgras Real Estate Services in Sebastopol, Calif., represented the Lytton Rancheria of California in acquiring a 50 percent interest valued at $17.5 million in the 84,000-sf Bell Village Center in Windsor, Calif., from Oakmont Senior Living.

Cynthia Shelton, CCIM, and Kane Morris-Webster, CCIM, of Colliers International Central Florida in Orlando, Fla., represented AO of Florida II LLC in the $15.8 million sale of the 79,146-sf Best Buy-anchored Osceola Parkway Plaza shopping center in Kissimmee, Fla., to WK 2010 Realty LLC. Shelton and Morris-Webster also represented Equitrust Life Insurance Co., in the more than $5.8 million sale of the 191,003-sf Eustis Square shopping center in Eustis, Fla., to Sunset Center LTD, Jensen Center LTD, and El Centro Mall LTD.

Joshua Randolph, CCIM, of Colliers International in Birmingham, Ala., Christopher Prosser, CCIM, of Colliers International in Cincinnati and a partner represented Wingin' It LLC in the more than $11.1 million sale of three Buffalo Wild Wings restaurants in Decatur, Ala., Florence, Ala., and Tupelo, Miss., to Broadstone Net Lease Acquisitions LLC. Randolph also represented GCCFC 2007-GG11 Route 280 LLC in the more than $3.4 million sale of the 37,850-sf Chelsea Crossings shopping center in Chelsea, Ala., to Chelsea Crossings LLC.

Frank Vora, CCIM, of Progressive Real Estate Partners in Rancho Cucamonga, Calif., represented an undisclosed seller in the more than $4.4 million sale of a 5,000-sf Chase Bank in Lake Elsinore, Calif., to a San Francisco-based private investor.

Alana Hogan, CCIM, of Realtime Commercial in Orlando, Fla., represented Plaza West Shopping Center LLC in the more than $5.8 million lease of 36,279 sf of retail space in West Melbourne, Fla., to Lucky's Market in the Plaza West Shopping Center.

Jonathan C. Lee, CCIM, of Choice Realty in Charleston, S.C., represented Grandview Holdings LLC in the $2.7 million purchase of a 14,000-sf retail center at Brickyard Crossing in Summerville, S.C., from an undisclosed seller.

Jim Casale, CCIM, of Lee & Associates in San Diego represented a private investor in the $2.6 million purchase of a 4,050-sf restaurant in Glendale, Ariz., from FFG Development LLC.

Industrial

Big Deal

William V. Gonnering, CCIM, and Christine McManus, CCIM, of Investment Properties Corp. in Naples, Fla., negotiated the more than $5.6 million sale of 65,010 sf of industrial space in Naples from Greenwich Investors XL VII REO LLC to T-Rose Investments of Florida LLC.

Michael Eisner, CCIM, of Brenner Real Estate Group in Fort Lauderdale, Fla., represented Metropolitan Warehouse and Delivery Corp., in the 10-year, $5 million lease of 50,044 sf of industrial space within Flagler Station III, Building 1 in Miami from an undisclosed lessor.

Jeffrey Hathaway, CCIM, of Coldwell Banker Commercial Hathaway Group in Little Rock, Ark., represented HCB LLLP in the $4.4 million purchase of a 60,000-sf net-leased industrial building in Maumelle, Ark., from a local investor. Hathaway also represented a local family trust in the $4.2 million sale of a 58,000-sf office/warehouse and storage complex in North Little Rock, Ark., to a local investor.

David M. Williams, CCIM, of Colliers International in Richmond, Va., and a partner represented Premier Pet Properties LLC in the more than $3 million sale of a 72,000-sf office warehouse in Richmond to Ukrops Dress Express.

Multifamily

Big Deal

Thomas McConnell, CCIM, of Redwood Realty Advisors in Hasbrouck Heights, N.J., and three partners represented Rose Realty in the $16.4 million sale of two apartment properties totaling 99 units in Hackensack, N.J., to an undisclosed buyer.

Melissa Warren, CCIM, of SRSA Commercial Real Estate in Metairie, La., represented an undisclosed seller in the $10.1 million sale of the 69-property, 130-unit Canal Housing Portfolio in New Orleans to an undisclosed buyer.

Mark Hinkins, CCIM, of Hinkins Real Estate Analytics in Walnut Creek, Calif., and Davide Pio, CCIM, of BCRE in Piole, Calif., represented George & Fenja Reiss Living Trust in the $6.4 million sale of a 21-unit multifamily property in Moraga, Calif., to Sack Properties. Hinkins and Pio also represented a family trust in the more than $3.2 million sale of a 12-unit apartment building in Castro Valley, Calif., to a private investor.

Matthew S. King, CCIM, of Green Bridge Real Estate in Cleveland represented Marengo Heights LLC in the more than $3.7 million sale of the 174-unit Forest Hills Park Apartments in East Cleveland, Ohio, to LEDAHF-East Cleveland LLC.

Mixed-Use

Big Deal

David J. Stevens, CCIM, of Investment Properties Corp., in Naples, Fla., represented Westbury International Corp. in the more than $25.4 million sale of 50,000 sf of street-level retail and office space in Naples. David Luebke, CCIM, of Hendricks Commercial Prop., in Beloit, Wis., represented the buyer, Chicago Deferred Exchange Company as Qualified Intermediary for Fifth Avenue South, LLC.

Brandon Rodgers, CCIM, of Cushman & Wakefield|Picor in Tucson, Ariz., represented Synergy Plaza LLC in the $5 million purchase of the 46,933-sf former McMahon Plaza in Tucson from Western Alliance Bank. 

Becky Blair, CCIM, of Coldwell Banker Commercial Blair Westmac in Long Beach, Calif., represented Hotel D. Artistes in the $2.1 million sale of the 3,730-sf Hotel D. Artistes mixed-use property in Long Beach to 402 East First Street LLC.

Specialty

Big Deal

Mike Garbers, CCIM, of Greystone Real Estate Advisors in Orlando, Fla., negotiated the $38 million sale of the Pacifica Senior Living property in Virginia Beach, Va., from a private seniors housing owner to Capital Senior Living.

Mahnaz Khazen, CCIM, of Rockefeller Group Business Center in San Jose, Calif., represented U.S. Immigration Investment Center in the 20-year, $28 million lease of the 44,500-sf Grand Merritt Lodge student housing development in Oakland, Calif., from EFEKTA.

Kenneth Carriero, CCIM, of Colliers International in Clearwater, Fla., and a partner negotiated the $9.4 million sale of the 32,968-sf Cornerstone at Longwood assisted living and memory care facility in Longwood, Fla., from Pacor to Madison Realty Equities LLC.

Financing

Big Deal

Kenneth M. Fox, CCIM, of Cohen Financial in San Francisco arranged the $58.8 million acquisition loan for the 986-unit Willow Creek Apartments & Townhomes in Kansas City, Mo., for a San Francisco-based multifamily investor. Fox also arranged the $39.5 million refinancing of three multifamily properties totaling 127 units in San Rafael, Calif., and a 71,700-sf office property in San Francisco for a San Francisco-based multifamily investor. Fox also arranged the $7.9 million refinancing of a 40-unit multifamily property over five commercial spaces in San Francisco for the same local investor.

Hospitality

Brandt Niehaus, CCIM, of Huff, Niehaus & Associates in Louisville, Ky., represented Dogwood Hotels LLC in the more than $5.8 million sale of the Clarion Hotel Lexington Conference Center in Lexington, Ky., to Lexington Hospitality Group LLC.

Land

Big Deal

Fabio Faerman, CCIM, of FA Commercial/Fortune International Realty in Miami represented an undisclosed seller in the $3.3 million sale of 16,676 sf of land in Hollywood, Fla., to an undisclosed buyer.

Fred Kermani, CCIM, of CRE Consultants in Naples, Fla., represented R&H LLC in the $2.7 million sale of more than 10.4 acres of land in Naples to an undisclosed buyer.

CCIM ROI

It's important to take advantage of all the benefits CCIM membership provides. They could come in handy when trying to close a deal. “STDB has a fantastic suite of tools that we always use in our marketing materials to help buyers better understand the immediate market around the subject property,” says Matson Holbrook, CCIM, of Siegel-Gallagher in Milwaukee. CCIM Institute membership includes an annual subscription to STDB's commercial real estate demographics tools. Holbrook, along with his partner Patrick Gallagher, CCIM, utilized the tool when representing Brandt/Quirk Realty Co., in the more than $3 million sale of a 56,250-sf industrial property in Oconomowoc, Wis. Jeff Hoffman, CCIM, of Cushman & Wakefield|Boerke in Milwaukee represented the buyer, Worthington Properties LLP. After receiving multiple offers, the Siegel-Gallagher team began to negotiate a PSA with the best initial buyer. However, that all changed when another CCIM came into the picture. “Jeff produced a stronger offer from a buyer ideally suited for the subject property,” says Holbrook. “Knowing that Jeff is a CCIM gave us the confidence to switch gears and work with Jeff's buyer to close the transaction.”

 

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