The Biggest Deal
Todd Rice, CCIM, with Colliers International | Arkansas in Little Rock, Ark., represented LRDC Real Estate LLC in the $34.85 million sale of the 96,692-sf Little Rock Diagnostic Clinic to Flagship Little Rock LLC.
BIG DEAL: Ryan Goeller, CCIM, and Kevin Goeller, CCIM, with NAI KLNB in Tysons, Va., represented an undisclosed seller in the $29.5 million sale of 43 acres of land in Chantilly, Va., for data center development.
Rollins, Jr., CCIM, with LSI Companies Inc. in Fort Myers, Fla., represented J.W. McDaniel Sr. Inc. and Robert E. McDaniel Sr. Residuary Marital Trust in the $18.8 million sale of a 4,000-acre ranch in Clewiston, Fla. He also, with a colleague from LSI Companies Inc., brokered Sonoma Preserve LLC’s $9 million sale of a 524-acre property in Lazy Susan, Fla.
Richardson, CCIM, of Logic Commercial Real Estate and three partners represented an undisclosed buyer in the $3 million acquisition of five acres of vacant land in Las Vegas.
BIG DEAL: Paul Natalizio, CCIM, with Cornerstone Realty Capital and one colleague arranged $29 million for the refinance and development of Portsmouth Green, a 172,000-sf retail complex in Portsmouth, Ma., for Waterstone Properties Group.
Natalizio, CCIM, also arranged for $13.5 million in financing for an undisclosed lessor of 78,000 sf of office space in Boston..
Harrelson, CCIM, of PMC Real Estate Capital in Raleigh, N.C., arranged the $5 million financing of an 82-acre parcel of land in Huntersville, N.C., for Bryton Land LLC.
Gremillion, CCIM, of NAI Latter and Blum represented an undisclosed seller in financing the $3.3 million sale of a 89-unit multifamily property in Baton Rouge, La.
BIG DEAL: Chris Richardson, CCIM, represented Partners Capital in the more than $6.3 million sale of Gramercy Commons, a 25,892-sf retail property in Las Vegas, to BK National Solutions LLC, represented by Roy Fritz, CCIM.
Propp, CCIM, along with a colleague, represented the buyer and seller in arranging $6.3 million in financing for 34,691 sf of office space in Littleton, Colo.
Locker, CCIM, in Glendale, Calif., represented an undisclosed buyer in the $6.25 million purchase of a 2,200-sf Starbucks in Monrovia, Calif.
Nachman, CCIM, of Long and Foster Commerical represented an undisclosed buyer in the $5.85 million acquisition of a 48,200-sf shopping center in Bartlett, Tenn. He represented another buyer in the $5.65 million sale of Trinity Place, a 47,939-sf shopping center in Cordova, Tenn., from ATA Trinity Place TN LLC.
McIntosh, CCIM, and Peter Couchell, CCIM, with Furman Capital Advisors in Greensboro, N.C., represented Wrennovation Siler City LLC in its more than $5.63 million sale of Food Lion Plaza, a 46,777-sf retail location in Siler City, N.C.
BIG DEAL: A. Scott Henry, CCIM, of BH Properties in Dallas represented the buyer in its $14.5 million purchase of the 145,186-sf Reserve at Park Ten, a Class A office property in Houston.
Webb, CCIM, with Colliers International in Grand Rapids, Mich., represented Metro Health - University of Michigan Health in the more than $13.9 million 15-year lease of 28,750 sf.
Jacquemin, CCIM, with Sperry Commercial Global Affiliates in St. Louis represented Laclair Investments in the $12.8 million lease of a 64,000-sf office space in four buildings to the State of Missouri. He also represented Three Flags Center 2016 LLC in the $5.46 million sale of 72,000 sf of office space to SOHO Investments.
Gose, CCIM, Michael Cashio, CCIM, and two colleagues with NAI Latter and Blum represented the seller in the more than $8.52 million sale of 78,000 sf of office space in Baton Rouge, La., to 4000 Investors LLC.
Merin, CCIM, represented KAS Gold LLC in the $8.5 million purchase of Commerce Pointe Gold, a 44,587-sf office property in West Palm Beach, Fla.
Sigmon, CCIM, and Pete Brett, CCIM, with Coldwell Banker Commercial Caine in Greenville, S.C., represented an undisclosed buyer in the more than $7.5 million sale of a 20,000-sf medical office leased to PRISMA Health.
Fraser, CCIM, with Avison Young - South Carolina Inc. represented 502 King Street LLC in its $5.5 million sale of a 10,197-sf office property in Charleston, S.C.
Adams, CCIM, of Hayes Commercial Group represented an undisclosed buyer in the $4.25 million sale of a 12,270-sf multi-building medical office property in Santa Barbara, Calif.
Magliarditi, CCIM, Greg Ruzzine, CCIM, and another partner with Logic Commercial Real Estate represented the Nevada Department of Wildlife in its $3.9 million purchase of the 28,270 Pepper Lane Office in Las Vegas.
Thomas, CCIM, and Russell Huntamer, CCIM, of Compass Commercial Real Estate Services represented Bowler & Bowler LLC in the $3.45 million sale of Summit Square North, a 10,432-sf office space in Bend, Ore.
Pitts, CCIM, and Justin Lossner, CCIM, of JLL in Des Moines, Iowa, represented an undisclosed party in the more than $3.12 million lease of 19,248 sf of office space in West Des Moines.
BIG DEAL: Ryan Goeller, CCIM, and Kevin Goeller, CCIM, with NAI KLNB in Tysons, Va., represented an undisclosed seller in the $16.88 million sale of Parkway Center in Ashburn, Va., two industrial buildings totaling 128,000 sf.
Macker, CCIM, and two colleagues with WESTMAC Commercial Brokerage Company represented both buyer and seller in a $13.4 million transaction for a 49,632-sf industrial property in Los Angeles.
Jo Lynch, CCIM, and Daniel Buhrmann, CCIM, of SVN | Gold Dust Commercial Associates represented TREF Reno LLC in its more than $13.1 million sale of the 107,338-sf Turner Air Crossing industrial property in Reno, Nev.
Pitts, CCIM, and Justin Lossner, CCIM, with JLL represented an undisclosed lessee in a more than $5.92 million lease for 75,000 sf of industrial space in Des Moines, Iowa.
Scroggs, CCIM, and Erin Caballero, CCIM, of NAI Latter and Blum represented both buyer and seller in a $5.7 million transaction for a nine-acre industrial property in Baton Rouge, La.
Wallace, CCIM, and one colleague with CRE Consultants represented an undisclosed buyer in a more than $4.4 million purchase of a 40,000-sf industrial property in Naples, Fla.
Magliarditi, CCIM, and a colleague with Logic Commercial Real Estate represented Three Square Inc. in its more than $4.15 million purchase of a 32,535-sf Class A industrial building.
BIG DEAL: Harlan Reichle, CCIM, of the Reichle Klein Group represented R.J. Lloyd, Co., Ltd. in the $29.4 million sale of 888 multifamily units to Urban Land Company Ltd.
McIntosh, CCIM, with Furman Capital Advisors represented JP Hamptons LLC in its $18.7 million sale of the Hamptons at Country Park, a 268,6320-sf multifamily property in Greensboro, N.C.
BIG DEAL: John Propp, CCIM, represented GSI Enterprises Inc. in its $9 million purchase of Cottonwood Square, a fully leased 59,175-sf mixed-use property in Cottonwood, Colo.
Salem, N.H., sits just over the Massachusetts border, roughly an hour’s drive from downtown Boston. In a state without income or sales tax, the location has drawn attention from those in the area looking for accessible warehouse facilities. When Hugo Overdeput, CCIM, represented a client looking to sell a 52,800-sf industrial/warehouse facility, he knew it would stand out in a tight market, with the area’s limited availability of well-maintained properties.
“As a result, if something comes available it does not stay on the market for long and goes at higher market rates,” he says. “We knew that the property would not appraise for $4.5 million, so we had to approach it from different angle, which was revenue.”
The property was at 70 percent occupancy with three tenants, which was an ideal amount of vacant space for the buyer, represented by George F. Brooks III, CCIM, an appraiser who was representing his client as a buyer broker consultant in this instance. This established revenue and pro forma income resulted in an appraisal near the sale price — close enough to allow for financing that led to a closing in September, just four months after the initial showing.
While such deals can have lots of moving parts, Overdeput and Brooks recognized the value of having CCIM designees on both sides of the deal.
“Participants in the market are better educated, [and they] have more assets at their fingertips understand a complicated market,” Brooks says. “They may look for qualified professionals to gain additional understanding of issues they need. I believe the qualifications that Hugo and myself brought to the table made this deal possible.”
Overdeput agrees that the CCIM Institute is a key tool in preparing professionals in dealing with buyers and sellers who are savvier. “The clients are getting more and more sophisticated and knowledgeable which impact the ways we have to advice, serve, and guide them,” he says.