CCIM Feature

Deal Makers

The Biggest Deal

Larry G. Schedler, CCIMChristian J. Schedler, CCIM

Christian J. Schedler, CCIM, (left) and Larry G. Schedler, CCIM, (right) of Larry Schedler & Associates in Metairie, La., and a partner represented AVR Realty in the $250 million sale of a nine-property portfolio totaling 2,079 units located in Lafayette, Shreveport, and Slidell, La., to El-Ad National Properties. 

Industrial

Marcus Pitts, CCIM, and Justin Lossner, CCIM, of JLL in Des Moines, Iowa, represented an undisclosed seller in the $16.2 million sale a 407,938-sf industrial property located at 3600 Army Post Road in Des Moines to an undisclosed buyer. Pitts and Lossner also represented an undisclosed seller in the $14.7 million sale of a 208,000-sf industrial property located at 810 S.E. Corporate Woods Drive in Akeny, Iowa, to an undisclosed buyer.

A. Scott Henry, CCIM, of ASH Realty Advisors in Plano, Texas, represented Dalfen America Corp. in the $15.2 million purchase of the 417,000-sf Eastpoint | Distribution Center in Dallas and 12.2 acres of adjacent land from an undisclosed seller.

Arnold Ng, CCIM, of Apex Commercial Real Estate in Torrance, Calif., represented QPS in the more than $5.6 million purchase of a 36,000-sf industrial property in Rancho Dominguez, Calif., from an undisclosed seller.

Laurie Tylenda, CCIM, of CBRE in Albany, N.Y., and a partner represented an undisclosed buyer in the $5.2 million purchase of a 57,540-sf industrial property located at 11 Petra Lane in Albany from an undisclosed seller.

Office

Kim Adams, CCIM, of Coldwell Banker Commercial Danforth in Federal Way, Wash., negotiated the $32 million sale of the 85,988-sf Park 120 Office Complex located at 606-636 120th Ave N.E. in Bellevue, Wash., from an undisclosed seller to an undisclosed buyer.

Neil Merin, CCIM, of NAI Merin Hunter Codman in West Palm Beach, Fla., represented Admiralty Acquisition Co. LLC in the more than $18.5 million sale of the 80,800-sf 4400 PGA Blvd. office complex located in Palm Beach Gardens, Fla., to Medical Center Realty LLC, North Medical Building Corp., and EMCD Properties LLC.

Kevin Huchingson, CCIM, and Isaac Smith, CCIM, of Colliers International | Arkansas in Little Rock, Ark., represented a private real estate investment partnership in the $14 million purchase of the 540,000-sf Gaffney Distribution Center in Gaffney, S.C.; the $9.5 million purchase of the 72,687-sf Kimball Place office building in Boise, Idaho; and the more than $7.8 million purchase of the 82,568-sf Live Oak office park in Charlotte, N.C., from undisclosed sellers.

Kerry Mann, CCIM, and two partners of Pacifica Commercial Realty in Santa Barbara, Calif., represented an undisclosed buyer in the $13.3 million purchase of the 40,586-sf Higuera Center located at 100 Cross Street in San Luis Obispo, Calif., from an undisclosed seller.

Andrew Cheney, CCIM,  R. Craig Coppola, CCIM, and  Gregg Kafka, CCIM, of Lee and Associates in Phoenix represented the SkySong 4 Office LLC in the more than $11 million lease of the 150,000-sf SkySong 4 in Scottsdale, Ariz., to Web.com.

Ian Grusd, CCIM, of Ten-X in New York City represented Corporate Place Partners in the more than $9 million sale of a 161,599-sf office building in Piscataway, N.J., to an undisclosed buyer.

Retail

Logan McAnallen, CCIM, of NAI Mid-Michigan/TMN Commercial in Okemos, Mich., represented an undisclosed buyer in the more than $5.1 million purchase of a 49,534-sf retail property located at 5135 Times Square and 1754 Central Park in Okemos from an undisclosed seller.

Ryan Johnson, CCIM, of Johnson Group in Reno, Nev., negotiated the $4.9 million sale of the 11,000-sf Plumgate Center retail property in Reno from Fastball LLC to 550 W. Plumb.

Greg Bedell, CCIM, of Progressive Real Estate Partners in Rancho Cucamonga, Calif., represented a private Huntington Beach, Calif.-based investor in the $4.9 million sale of the 27,112-sf Dollar General Town Center in San Jacinto, Calif., to a private family trust based in Newport Beach, Calif.

Sandy Shindleman, CCIM, of Shindico Realty in Winnipeg, Manitoba, represented Ashley HomeStore in the more than $4.2 million lease of the 29,331-sf retail space located at 1000 James St. in Winnipeg from an undisclosed lessor. Shindleman also represented Furniture Investment Group in the more than $3.5 million lease of the 21,608-sf retail property located at 1650 Victoria Road East in Whitby, Ontario, from an undisclosed lessor.

David J. Stevens, CCIM, of Investment Properties Corp. in Naples, Fla., negotiated the $3.4 million sale of the 3,903-sf Le Lafayette restaurant located in Naples from Pratt Shoes to the Jerrilyn M. Hoffmann Revocable Trust.

John V. Propp, CCIM, of John Propp Commercial Group in Greenwood Village, Colo., represented Can't Miss LLC in the $3.4 million sale of a 20,473-sf retail property located at 11083-11093 E. Mississippi Ave. in Aurora, Colo., to Mississippi Group LLC.

Nick Miner, CCIM, of ORION Investment Real Estate in Tempe, Ariz., represented an undisclosed seller in the more than $3.2 million sale of the 14,320-sf Bell Plaza located at 1704-1728 West Bell Road in Phoenix to S.M.G. Investments LLC. 

Multifamily

Reid Bennett, CCIM,  of SVN | Chicago Commercial and a partner represented Indian Trails Apartments LP & Ridge Garden Apartments LP in the more than $26.4 million sale of a 312-unit multifamily property located at 12141 S. Indiana Ave. in Chicago and 10010 S. Sayre  Ave. in Chicago Ridge, Ill., to an undisclosed buyer. 

Dunston Powell, CCIM, of Carolina Commercial LLC in Mount Pleasant, S.C., and a partner negotiated the $16.5 million sale of the 65-unit student housing development in Clemson, S.C., from NW Orchard Clemson LLC to Orchard Calhoun LLC and Orchard Clemson LLC. 

Drew Bobincheck, CCIM, of Landmark Commercial Realty in Lemoyne, Pa., and a partner represented the Catalina Development Co. in the $13 million sale of a 233-unit apartment property located at 329 S. Arlington Ave. in Harrisburg, Pa., to an undisclosed buyer. 

Jeff Koon, CCIM, of Stratus Property Group LLC, in Atlanta represented a private equity fund in the $12.2 million sale of the 154-unit River Oaks student housing community in Athens, Ga., and the 243-unit Tumbling Creek student housing community in Gainesville, Ga., to undisclosed buyers. 

Arthur Nachman, CCIM, of Long and Foster Commercial in Vienna, Va., represented a private equity buyer in the $10.2 million purchase of the 66-unit Argon building located at 3805 Cutshaw Ave. in Richmond, Va., from an undisclosed seller.

Marcus Pitts, CCIM, and  Justin Lossner, CCIM, of JLL in Des Moines, Iowa, represented an undisclosed seller in the $9.8 million sale of the 92-unit multifamily property located at 1603 NW Prairie Lakes Drive in Akeny, Iowa. 

Kevin Chin, CCIM, of SVN | Pacific Commercial Advisors in San Francisco and a partner represented Willow Glen Apartments LP in the $9.5 million sale of the 94-unit Willow Glen Apartments located in Sacramento, Calif., to an undisclosed buyer. Chin and a partner also negotiated the more than $5.7 million sale of the 56-unit Seville Apartments located in Rancho Cordova, Calif., from Luey Lum Trust to Seville Apartments LLC. 

Devin Lee, CCIM, and three partners of Northcap Multifamily in Las Vegas represented Burton Hall Properties LLC in the $7.2 million sale of the 144-unit La Ensenada Villas Apartments in Las Vegas to an undisclosed buyer. 

Land 

Antone Brazill, CCIM, of NAI Vegas represented Riverview Henderson LLC in the $24.5 million purchase of 47 acres of land in Las Vegas from Southern Highland Partners LLC. 

Jennifer Martin, CCIM, of Mid-Valley Commercial Real Estate LLC in Salem, Ore., and a partner represented Mission Properties LLC in the $7.5 million sale of a 17.5-acre parcel of land in Salem to an undisclosed buyer. 

Sandy Shindleman, CCIM, of Shindico Realty in Winnipeg, Manitoba, represented 6787925 Manitoba in the more than $4.1 million purchase of 41.08 acres of land located in Rosser, Manitoba, from an undisclosed seller. 

Specialty 

Dunston Powell, CCIM, of Carolina Commercial LLC in Mount Pleasant, S.C., represented Atlantic Marina Holdings LLC in the $22.5 million purchase of Tierra Verde Marina Resort in Tierra Verde, Fla., with 500 slips and 12,000-sf of marine retail space from Tierra Verde Marina Resort LLC. 

Andrew Cheney, CCIM,  R. Craig Coppola, CCIM, and  Gregg Kafka, CCIM, of Lee and Associates in Phoenix represented an undisclosed buyer in the $5 million purchase of a 22,264-sf school located at 4800 E. Doubletree Ranch Road in Paradise Valley, Ariz., from Sion Holdings- Doubletree LLC. 

Mixed-Use

Jim Garinger, CCIM, and  Fred Kolb, CCIM, of Colliers  International | Southwest Florida in Fort Myers, Fla.,  negotiated the $19.7 million sale of 3.55 acres of commercial land, condominiums, and marina frontage in Naples, Fla., from Vanderbilt Real Estate Holdings to Stock Development LLC.

CCIM ROI

ND17_cook ND17_mcculough

Recently Micah McCullough, CCIM (left),  of NAI UCR Properties in Jackson, Miss., represented Truckworx in the $3 million purchase of the 70,000-sf FedEx Ground facility located in Richland, Miss., from an undisclosed seller represented by William Cook Jr., CCIM, of Cook Commercial Properties in Jackson. McCullough admits that the transaction only may have occurred because of their long-standing relationship as CCIMs.

Back when McCullough was beginning his career, he recalls being paired up with Cook at a Mississippi CCIM Chapter golf outing. The weather took a turn for the worse, and a torrential downpour was expected to wrap up the day’s events. However, Cook wanted to keep playing, so he refused to go in.

The two kept playing until finally being forced inside. “That’s my first recollection of meeting him,” McCullough says. “He’s a dedicated guy in whatever he’s going to do; he’s committed to finishing what he started.”

Cook and McCullough continued to maintain a professional relationship and have worked together on many deals. While working on one recent deal, the two struck up a conversation during some downtime. The conversation turned toward the FedEx facility in Richland that Cook’s client was potentially putting on the market. McCullough mentioned he had a client who would be interested in the property.

“Without that level of comfort in knowing each other as CCIMs, we may not have had that conversation to begin with,” says McCullough. The two CCIMs, along with their clients, worked together to close the deal and succeeded in having a final sale that was positive for all parties involved.

What began as a possible unfortunate day on the golf course has evolved into an alliance in the commercial real estate market. 

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CIRE Nov/Dec 2017 Issue Cover

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