Deal Makers

Deal Makers

THE BIGGEST DEAL

Neil Merin, CCIM, of NAI Merin Hunter Codman in West Palm Beach, Fla., represented 1 East Broward Owner LLC in the more than $108 million purchase of a 351,705-sf office property in Fort Lauderdale, Fla., from One Broward Blvd Holdings LLC.

Office

BigDeal | Andrew Cheney, CCIM,  Craig Coppola, CCIM, and  Gregg Kafka, CCIM, of Lee & Associates in Phoenix represented Mainspring in the $56.5 million sale of the 271,782-sf Pima Center Corporate office property in Scottsdale, Ariz., to City REIT. They also represented AZGL LLC in the more than $10.9 million sale of a 38-acre office property in Chandler, Ariz., to FAE Holdings, as well as representing DT Chandler Property in the more than $8.1 million lease of the 40,829-sf Chandler City Center office property in Chandler to Ports America Group.

Neil Merin, CCIM, of NAI Merin Hunter Codman in West Palm Beach, Fla., represented 951 Yamato Acquisition Company LLC in the more than $18.5 million lease of a 56,212-sf office property in Boca Raton, Fla., to TherapeuticsMD. Merin also negotiated the more than $5.5 million sale of the 49,137-sf Centurion Tower office property in West Palm Beach from Centurion Tower LLC to Oxbow Carbon, as well as representing 7121 Fairway Owner in the more than $4.8 million lease of the 22,228-sf Fairway Office Center office property in Palm Beach Gardens, Fla., from PNC Bank.

Dan Adamski, CCIM, of JLL in Pittsburgh represented Smith & Nephew in the more than $16.4 million lease of the 46,349-sf Three Crossings office property in Pittsburgh from an undisclosed lessor. Adamski also represented McKesson in the more than $11.3 million lease of a 68,880-sf office property in Pittsburgh from an undisclosed lessor. Additionally, he represented Allegheny Health Network in the more than $3.5 million lease of the 21,476-sf Galleria at Pittsburgh Mills office property in Tarentum, Pa., from an undisclosed seller.

Steve Horn, CCIM, of Ian Black Real Estate in Sarasota, Fla., negotiated the more than $10.6 million sale of a 72,408-sf office property in Sarasota from RPS Main Street Sarasota.

Jason Sundook, CCIM, and Neil Merin, CCIM, represented Belvedere Acquisition LLC in the more than $10.6 million sale of the 104,623-sf Palm Beach International Towers office property in West Palm Beach, Fla., to an undisclosed buyer.

Ember Grummons, CCIM, of Investors Realty in Omaha, Neb., represented an affiliate of Jasper Stone Partners in the $8.9 million sale of an 85,604-sf office property in Omaha to an affiliate of Lockwood Development.

Dan Scanlon, CCIM, of Colliers International in Merrimack, N.H., represented Brookstone in the $6.1 million sale of a 100,000-sf office property in Merrimack to Brady Sullivan Properties.

Barbara LeBrun, CCIM, of NAI/Merin Hunter Codman in West Palm Beach, Fla., represented ACP Capital Properties LLC in the more than $5.5 million purchase of a 26,596-sf office property in West Palm Beach from GBR Acquisitions LLC.

Matson Holbrook, CCIM, of MBH Investment Real Estate LLC in Milwaukee represented RW Howell LLC in the $5 million sale of the 21,024-sf Howell Avenue Professional Building in Oak Creek, Wis., to SEP Oak Creek MOB LLC.

Hospitality

BigDeal | Glenn Dulaine, CCIM, of Realty Executives SNV in Las Vegas represented Wabash Hillcrest LLC in the $46 million purchase of the 600-unit Siena Suites hospitality property in Las Vegas from Boulder Russell LLC.

Brian Resendez, CCIM, of SVN in Portland, Ore., negotiated the $3.2 million sale of the 118-unit Kachina Resort Hotel & Meeting Center hospitality property in Taos, N.M., from KOBA LP to M&M Partnership.

Specialty

BigDeal | Ryan Goeller, CCIM, and Kevin Goeller, CCIM, of NAI KLNB in Ashburn, Va., represented an undisclosed seller in the more than $41.1 million sale of the 39-acre Curtis Farm specialty property in Sterling, Va., to an undisclosed buyer. 

John Heine, CCIM, and RJ Neary, CCIM, of Investors Realty in Omaha, Neb., represented an undisclosed seller in the $8.2 million sale of the 680 Maple Mini Storage specialty property in Omaha to an undisclosed buyer.

Land

BigDeal | Eric Frickle, CCIM, of Eric Conrad Frickle Commercial Realty in Corona, Calif., represented Rexco LLC in the $39 million purchase of 76.2 acres of land in California from an undisclosed seller.

Matt Carter, CCIM, of C. Dan Joyner Commercial/Berkshire Hathaway in Greenville, S.C., represented the County of York, S.C., in the $20 million purchase of 1,800 acres of land in York from NNP IV-Catawba LLC represented by  Chester Allen, CCIM, of CBRE Raleigh.

Ryan Goeller, CCIM, and Kevin Goeller, CCIM, of NAI KLNB in Tysons, Va., represented an undisclosed buyer in the $9 million purchase of 56 acres of land in Aldie, Va., from an undisclosed seller.

Jonathan Fan, CCIM, of KW Commercial in Pasadena, Calif., represented an undisclosed buyer in the more than $4.7 million purchase of 0.72 acres of land in Pasadena from an undisclosed seller.

Industrial

BigDeal | Mark Wright, CCIM, of Dividend Realty in Peachtree City, Ga., represented Dividend Partners in the more than $19.2 million sale of the 293,000-sf Dividend East & West industrial property in Peachtree City to an undisclosed buyer.

Greg Diab, CCIM, and Jack Haley, CCIM, of Lee & Associates Orange in Orange, Calif., represented Shenmu Holdings LLC in the more than $12.8 million purchase of a 51,410-sf industrial property in Tustin, Calif., from 2911 Dow LLC. They also negotiated the $6.2 million sale of a 25,000-sf industrial property in Irvine, Calif., from Ridoo Group to 2911 Dow LLC.

Alfonso Holloman, CCIM, of Lee & Associates NYC in New York negotiated the $11.5 million sale of the 68,000-sf Astoria Development Site in Astoria, N.Y., from LAC Realty to Bruman Realty.

Phil Charmoli, CCIM, of Cushman & Wakefield Commercial Kentucky in Louisville, Ky., represented Hydra Warehouse  of Jeffersonville LLC in the $11 million lease of a 506,177-sf industrial property in Jeffersonville, Ind., from Exeter Property Group.

Marshall Burke, CCIM, and David Williams, CCIM, of Harrison & Bates in Richmond, Va., represented The Landmark Company of VA in the more than $10 million sale of the 136,800-sf Ruffin Mill Center industrial property in Colonial Heights, Va., to an undisclosed buyer.

Finance

BigDeal | Thomas McConnell, CCIM, of Redwood Realty Advisors in Hasbrouck Heights, N.J., arranged a $13 million loan for the 136-unit Gillette Towers multifamily property in Sayreville, N.J., for an undisclosed buyer. McConnell also arranged a $9.5 million loan for the 68-unit Wilson Manor multifamily property in Sussex, N.J., for an undisclosed buyer.

Mike Migone, CCIM, of SVN Commercial Advisory Group in Sarasota, Fla., arranged a more than $7.6 million loan for the 14-acre Town Center at University Groves in Sarasota for LIV Development.

Bob Khalsa, CCIM, of United America Realty in Newhall, Calif., arranged a $4.5 million loan for a 16,514-sf office building in Los Angeles for Equitas #4 LLC.

Tim Tran, CCIM, of The Ivy Group in Fremont, Calif., arranged a more than $3.6 million loan for a 12,600-sf industrial property in Fremont for Hoopsphere Sports Center.

Retail

BigDeal | Liz Clare, CCIM, of Avison Young in Las Vegas negotiated the more than $10.2 million sale of the 45,556-sf Monterey Vista Village Shopping Center retail property in Las Vegas from Monterey Vista Village Shopping Center LLC to Fort Apache Road LLC. Clare also negotiated the $6.5 million sale of a 64,610-sf retail property in Las Vegas from 1200 Rainbow Blvd LLC to Monterey Vista Village Shopping Center LLC.

Phillip Mazaheri, CCIM, and George Williams, CCIM, and a partner of Price Edwards & Company in Oklahoma City represented an undisclosed seller in the $9.6 million sale of the 136,772-sf Cassady Square retail property in Oklahoma City to an undisclosed buyer.

Ember Grummons, CCIM, and a partner of Investors Realty in Omaha, Neb., represented Legacy Court LLC in the more than $7.3 million sale of the 37,370-sf Legacy Village retail property in Omaha to Copper Investments LLC and Christine Properties LLC.

Cathy Jones, CCIM, Roy Fritz, CCIM, and four partners of Sun Commercial Real Estate in Las Vegas represented LVAMJT Living Trust of November 28, 2017, in the more than $6.1 million purchase of four Multi-Tenant Retail Pads in Las Vegas from KRG Las Vegas Craig LLC.

Multifamily

BigDeal | Beau Beery, CCIM, of Coldwell Banker Commercial MM Parish in Gainesville, Fla., negotiated the more than $11 million sale of the 158-unit The Abby at 2700 multifamily property in Tallahassee, Fla., from an undisclosed seller to an undisclosed buyer.

Mixed-Use

BigDeal | Tim Tran, CCIM, of The Ivy Group in Fremont, Calif., represented Abe Capital LLC on the $4.5 million sale of a 11,766-sf mixed-use property in San Jose, Calif., to an undisclosed buyer.

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CCIM ROI

A brilliant example of adaptive reuse, a five-building campus property that was once nearly deserted is now booming with hundreds of daily visitors and garnered more than $10 million in redevelopment investments from local leading companies. Investor Gerard Keating, CCIM (left), of Keating Resources in Naples, Fla., enlisted the help of Chris Bogenrief, CCIM (right), of NAI United in Sioux City, Iowa, in the more than $5.7 million purchase of the 750,000-sf former Gateway Computer Campus in Sioux City from Acer Computers.

After impressing him on the due diligence period of his purchase, Keating enlisted Bogenrief’s help to help sell the campus in parts, saying, “I simply created a subdivision plan, had the city approve it, and then Bogenrief sold it off based on how we subdivided it.” Bogenrief mentions that “within 103 days of the closing, we had sold four of the five buildings — not just got them under contract; we actually closed on them within 103 days. I’ve never seen anything like it in my life.”

Recognizing each other’s CCIM designations, Bogenrief says that “[Keating’s] credibility just jumped for me, and I got comfortable instantly because I knew he had experience; I knew he was serious about commercial real estate. There’s an instant trust because we both had it.

“We both spoke the same language, we both understood investment deals; it was just easy to do business together,” he continues. Praising his new colleague, Keating adds that “every time I see the CCIM designation behind somebody’s name, I know there’s a high probability the broker will be professional and knowledgeable — and that proved itself out with Chris Bogenrief.”

Both Keating and Bogenrief stress that promoting the CCIM designation to a younger generation is key to advancing the commercial investment real estate industry. Keating mentions he “just did not have the skills at the age of 32 to really compete in the investment market. Those initial [CI] courses — 101, 102, 103 — helped put me over the top along with my practical experience and my goal of becoming a commercial real estate investor.” 

“Nobody’s going to put in that kind of work to get a designation if they’re not legitimate real estate practitioners,”  adds Bogenrief.

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