CCIM Feature

Deal Makers

Biggest Deal

MA18_merin

Neil Merin, CCIM, of NAI | Merin Hunter Codman in West Palm Beach, Fla., represented Terra in the more than $62.3 million purchase of the 245,673-sf Golden Bear Plaza office property in Palm Beach Gardens, Fla., from GB Investors LLC. Merin also represented Admiralty Acquisition Co. LLC in the more than $18.5 million sale of the 80,800-sf 4400 PGA office property in Palm Beach Gardens to Medical Center Realty LLC, North Medical Building Corp., and EMCD Properties LLC.

Industrial

Andie Edmonds, CCIM, of NAI Cascade in Bend, Ore., represented LCR Properties in the $42 million purchase of the 1,056,707-sf Leeds Park industrial property in Charleston, S.C., from JRK Property Holdings.

Terry Coyne, CCIM, and  Kristy Hull, CCIM, of Newmark Grubb Knight Frank in Cleveland and one partner represented AIC Ventures in the $40 million sale of a 554,037-sf industrial portfolio, which includes two industrial properties in Strongsville, Ohio, to VEREIT ID Strongsville OH LLC. Coyne also represented GED Cashew Partners LLC in the $18.6 million lease of a 133,409-sf industrial property in Glenwillow, Ohio, to GED Integrated Solutions.

Jay Lyons, CCIM, and two partners of Compass Commercial Real Estate Services in Bend, Ore., represented G4 LLC in the $16.3 million sale of a 106,776-sf industrial building in Bend to Moreland Station Apartments LLC.

Tim Harrison, CCIM, of Whitney Commercial Real Estate in Asheville, N.C.,  represented Arvato Digital Services in the $8.1 million sale of a 416,500-sf industrial property in Weaverville, N.C., to King Holdings 4 LLC.

Office

Nora Hogan, CCIM, of Transwestern in Dallas represented Reserved Capital Partners in the more than $26.5 million purchase of the 232,000-sf Hidden Grove office property in Dallas from Reserved Capital Partners.

Thomas Campenni, CCIM, of Thomas F. Campenni Company in Stuart, Fla., and a partner negotiated the $22 million lease for a 40,000-sf office space in New York City for the Tharanco Group to the owner 134 West 37th Street LLC.

Terry L. Hamilton, CCIM, and Melissa Campanella, CCIM, of NewMarket Advisors in Las Vegas represented Henderson Covenant Group LLC in the $19.5 million sale of a 75,249-sf office property in Henderson, Nev., to an undisclosed buyer.

Daniel Jacob Jr., CCIM, of Daniel Jacob Interests in San Antonio represented 8918 Tesoro Partners LLC and  Galaxy Office Partners LLC in the $11.5 million purchase of two office properties  totaling 115,000-sf in San Antonio from undisclosed sellers.

Ben Stout, CCIM, of Atlantic Properties in Plymouth, Mass., negotiated the $11.5 million sale of the 76,000-sf Harborview Place in Plymouth from Eastport Bayside LLC to Linchris Hotel Group.

Jill Rasmussen, CCIM, and two partners of The Davis Group in Minneapolis represented Midwest ENT, P.A. in the more than $9.1 million lease for a 12,000-sf medical office building in Vadnais Heights, Minn., from an undisclosed lessor. 

Justin Lossner, CCIM, and Marcus Pitts, CCIM, of JLL in Des Moines, Iowa, represented Nelson Construction in the $4.1 million sale of a 30,000-sf office property in Urbandale, Iowa, to MRP1031 LLC.

Laurie Tylenda, CCIM, of CBRE in Albany, N.Y., represented an undisclosed lessor in the more than $3.9 million lease of a 23,000-rsf office property located at  5 Columbia Circle in Albany to an undisclosed lessee.

Carl Essa, CCIM, of Essa Commercial Real Estate in Greensboro, N.C., represented CK Dialysis LLC in the more than $3.8 million sale of a 6,969-sf medical office property in High Point, N.C., to an undisclosed buyer.

Multifamily

Devin Lee, CCIM, and three partners of Northcap Multifamily in Las Vegas represented 29SC Country Hills LP in the $19 million sale of the 208-unit Bay Bridge Apartments in Las Vegas to an undisclosed buyer.

Cathy Jones, CCIM, of Sun Commercial Real Estate in Las Vegas and four partners represented St. Louis LV Holdings  LLC in the $7.3 million sale of a 92-unit  multifamily property in Las Vegas to an undisclosed buyer.

Jerry Hall, CCIM, of Equity Investments in Hilliard, Ohio, represented Global Apartments LLC in the more than $3.2 million sale of the 64-unit Wesliegh Run Apartments in Columbus, Ohio, to a private West Coast investor.

Finance

Len Deering, CCIM, of Deering Commercial Mortgage LLC  in Willowbrook, Ill., arranged a $16.5  million refinancing package for a 92-unit student housing property in Minneapolis from Goldman Sachs.

Adam Gregory, CCIM, of CommCap Advisors in Las Vegas arranged the more than $12 million financing of the 260-unit Sabrinas Apartments located at 1502 S. Columbus Blvd. in Tucson, Ariz., for an undisclosed borrower.

Hospitality

Ken Bailey, CCIM, of NAI TALCOR in Dothan, Ala., represented a private investment group in the $15 million purchase of the 292-unit Huntsville Marriott at the Space and Rocket Center located at 5 Tranquility Base in Huntsville, Ala., from an undisclosed seller.

Brandt Niehaus, CCIM, of Huff, Niehaus & Associates in Louisville, Ky., negotiated the $4.4 million sale of the 101-room Hampton Inn in Horse Cave, Ky., from Dhami, Sohal & Sehgal Properties LLC to Express 65 LLC.

Retail

Chase Mayhugh, CCIM, of Mayhugh Realty in Fort Myers, Fla., represented NYFL Commercial Holdings 2 LLC in the $8.1 million sale of a 69,570-sf retail shopping center in Fort Myers to Susence FL Holdings LLC.

Daniel Jacob Jr., CCIM, of Daniel Jacob Interests in San Antonio represented Hunter Road Centerpoint Ltd. in the  $4.7 million sale of the 36,000-sf Centerpoint Business Park in San Marcos, Texas, to an undisclosed seller. Jacob also represented Hunter Road Centerpoint Ltd. in the $7.8 million purchase of the 65,000-sf Parliament Squares retail center in San Antonio.

Jerry Halsey Jr., CCIM, and two partners of Halsey Thrasher Harpole Real Estate Group in Jonesboro, Ark., represented Centre Court Plaza LLC in the more than $7.5 million sale of the 64,000-sf retail property in Jonesboro to Agree Limited Partnership.

Bob Fredrickson, CCIM, and Kim Adams, CCIM, of Coldwell Banker Commercial Danforth in Federal Way, Wash., represented Tacoma Housing Authority in the more than $5.9 million purchase of the 7-acre James Center North retail property in Tacoma, Wash., from an undisclosed seller.

Justin Lossner, CCIM, and Marcus Pitts, CCIM, of JLL in Des Moines, Iowa, represented Galloway Holdings in the $4.8 million sale of the 33,435-sf  Prairie Cove retail center in Altoona, Iowa, to Colby Interests.

Deborah Vannelli, CCIM, and Keith Sturm, CCIM, of Upland Real Estate Group in Minneapolis represented an undisclosed seller in the more than $3.7 million sale of the 5,537-sf SuperAmerica located at 1280 W 98th St. in Bloomington, Minn., to an undisclosed institutional buyer.

Bruce Preble, CCIM, of Commercial Realty Specialists LLC in Cape Coral, Fla., represented an undisclosed seller in the $3.1 million sale of the 21,400-sf Lighthouse Plaza shopping center in Cape Coral to North Cape Properties.

Mixed-Use

Chris Cervelli, CCIM, of Cervelli Real Estate & Property Management in North Bergen, N.J., and Brian T. Ahearn, CCIM, of Coldwell Banker Commercial NRT in Aventura, Fla., represented an undisclosed seller in the more than $7.7 million sale of the combined 12,958-sf 86th Street Portfolio located at 1940-1942, 1947, and 2015 86th Street in Brooklyn, N.Y., to an undisclosed buyer.

David J. Stevens, CCIM, of Investment Properties Corporation in Naples, Fla., negotiated the more than $6.6 million sale of the 4,425-sf DeBruyne Fine Arts building in Naples from Stephen H. Farrington to 271 Broad Avenue LLC.

Justin Lossner, CCIM, and Marcus  Pitts, CCIM, of JLL in Des Moines, Iowa, represented RMV Properties in the more than $3.2 million purchase of a 14,051-sf mixed-use property located in West Des Moines, Iowa, from ST Howard Holdings.

Specialty

Kate Hanson, CCIM, and a partner of Granite City Real Estate in Waite Park, Minn., negotiated the $5.6 million sale of the 40,500-sf Minnesota School of  Business in Waite Park from Minnesota School of Business to Independent School District No. 742. 

Land

Sharon Wright, CCIM, and a partner of White-Spunner Realty in Mobile, Ala., represented an undisclosed seller in the more than $3.8 million sale of 17 acres of land near the intersection of Highways 181 and 90 in Daphne, Ala., to Infirmary Health.


CCIM ROI

MA18_LoukasMA18_Ramm_ “It really comes down to trust, confidence, and who you're working with,” says Chris Ramm, CCIM (left), of Taylor Development Group LLC in Winston-Salem, N.C., after recently completing the second of two deals with Paul Loukas, CCIM, (right) of Cape Fear Commercial in Wilmington, N.C. “Paul and his team were absolutely fantastic to work with,” Ramm adds. “As CCIMs, we spoke the same language and had an open line of communication, which was absolutely key.”

Together, Ramm and Loukas recently completed more than $21 million in sales in the last nine months. This includes the $10.2 million sale of the 55,966-sf Landfall Park office property and the $10.7 million sale of a 57,000-sf office property, both in Wilmington. In both transactions, Loukas represented the seller and Ramm was a member of the buying entity, Taylor Development Group.

Because of the approaching holidays, the two CCIMs had less than 60 days to get the second transaction completed. “However, because of our tight working relationship, existing trust and confidence, and open-book communication from the first transaction, we were able to work through the tight deadline and get the sale done,” Ramm says.

Loukas and Ramm both credit their open-book professional relationship because they shared the common language of their CCIM educations. “The CCIM education is not only learning the different mechanics and tools for a transaction, but, more importantly, it's using those tools in real-world applications,” Loukas says.

With three more transactions in the works, Ramm and Loukas agreed that this is just the beginning of a strong professional alliance, with their main bond being trust. “Trust was 100 percent established initially since Chris and I both have earned the CCIM designation,” Loukas says. “The trust allowed us to have clear communications, get creative, and operate as an open book with each other.”

CIRE March/April 2018 Issue Cover

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