Deal Makers

CCIM Deal Makers

Biggest Deal - Spring 2020

The Biggest Deal

Left to right: Andrew Cheney, CCIM; Craig Coppola, CCIM; and Gregg Kafka, CCIM, with Lee & Associates represented Velocis Camelback LP in its $53.2 million sale of Camelback Square, a 178,268-sf office property in Scottsdale, Ariz., to CIO Camelback LP. 

Office

Big Deal: Dan Adamski, CCIM, with JLL represented Allegheny Health Network in its lease of 176,006 sf of office space in Pittsburgh for more than $42.23 million from HTA-Federal North LLC. He also represented Florida Blue in its more than $5.84 million lease of a 66,250-sf office property in Jacksonville, Fla., from State Farm. Adamski additionally represented ACBA in its more than $4.73 million lease of 23,021 sf of office space in Pittsburgh.

Andrew Cheney, CCIM, Craig Coppola, CCIM, and Gregg Kafka, CCIM, with Lee & Associates represented RM Desert Ridge LLP in its $39.1 million lease of more than 35,000 sf of office space to Discount Tire in Phoenix. They also represented Planned Development Services in leasing 13,750 sf of office space in Glendale, Ariz., from Holualoa Arrowhead Executive LLC for $3.61 million.

John Crotty, CCIM, with Avison Young and associates represented City National Bank in the $25 million sale of a 139,448-sf office building in Miami to billionaire Moishe Mana. 

Steve Horn, CCIM, and Ian Black, CCIM, with Ian Black Real Estate represented CheapChard LLC, Bling Bling Properties LLC, and Biter Building LLC in their $10.5 million purchase of a 44,000-sf office space from JDL Development LLC.  

Howard Meier, CCIM, with Spire Commercial Realty Inc. represented Kingsway College in its $9.02 million acquisition of Eau Du Soleil, a 40,000-sf office development in Toronto, from Empire Communities. 

Neil Merin, CCIM, with NAI/Merin Hunter Codman Inc. represented Centurion Tower LLC in its $32.5 million sale of a 143,966-sf office property in West Palm Beach, Fla., to 1601 Forum Place LLC.

Jill Rasmussen, CCIM, and a partner with Davis in Minneapolis represented New Albany MOB Partners LLC in its $18.4 million purchase of the New Albany Medical Center II, a 59,233-sf medical office building in New Albany, Ohio.

Robin Santiago, CCIM, with the Kase Group represented the Wool Family Trust and Brunst Family Trust in the $9.5 million sale of 25,630 sf of office space to MarkDev-DV San Jose LLC in San Jose, Calif..

David Sigmon, CCIM, Matt Vanvick, CCIM, and Pete Brett, CCIM, with Coldwell Banker Commercial Caine represented an undisclosed investor in the $17.56 million purchase of a multi-location portfolio totaling 50,210 sf in multiple cities in South Carolina.

Land

Big Deal: Phil Fischler, CCIM, with Fischler Property Company represented 2220 West First Street - Fort Myers LLC in its $12.5 million sale of 5.3 acres in Fort Myers, Fla., to ESH Fort Myers LLC.

Cathy Jones, CCIM, and two partners with Sun Commercial Real Estate represented an undisclosed lessor in the more than $3.47 million contract for 12 acres of land in North Las Vegas, Nev.

Carter Kennemur, CCIM, with Kennemur & Associates in Raleigh, N.C., represented FWL3 LLC in its more than $3.45 million sale of 74.17 acres of land for industrial development in Wake Forest, N.C., to Merritt Properties.

Financing

Big Deal: Farrah Lemanski, CCIM, with CenterState Bank in Vero Beach, Fla., coordinated $9.6 million in financing for Keiser University to construct a 42,000-sf office building in Naples, Fla.

Retail

Big Deal: Liz Clare, CCIM, with Avison Young represented Monterey Vista Village Shopping Center in its more than $7.27 million sale of the Shoppes on Rainbow in Las Vegas, totaling 64,610 sf.

Marc Magliarditi, CCIM, and a colleague with Logic Commercial Real Estate in Las Vegas represented ESN Properties 19-03 LLC in the $5.4 million purchase of a 19,611-sf retail property in Henderson, Nev., from Southern Hills Community Church.

George Renz,CCIM, with Renz & Renz in Gilroy, Calif., represented Kline Trust in its $6.45 million purchase of a 18,000-sf retail grocery location in Williams, Calif. 

Industrial

Big Deal: Ian Grusd,CCIM, with Ten-X in New York represented Fin Associates in its $17.6 million sale of a 204,000-sf industrial property in Bridgewater, N.J., to an undisclosed buyer. 

Mike Bobick, CCIM, with Granite City Real Estate represented two groups in the $8.1 million sale of two business parks — West River Business Park in Waite Park, Minn., and Benton Business Park in Sauk Rapids, Minn. — totaling 120,000 sf to an undisclosed buyer represented by Patrick Hart, CCIM. 

Scott Hensley, CCIM, and Lester Osborn, CCIM, with Piedmont Properties of the Carolinas represented an undisclosed buyer in the $5.4 purchase of a 38,458-sf, 23.43-acre industrial property in Charlotte, N.C.

Ron Jurgenson, CCIM, with Reichle Klein Group in Toledo, Ohio, represented both parties in a more than $4.62 million sale of a 157,550-sf industrial property in Pioneer, Ohio, from Kidston Family Companies Ltd., also represented by Tim Echemann, CCIM, to ATD Properties LLC.

Cathy Jones, CCIM, and four colleagues with Sun Commercial Real Estate represented an undisclosed seller in a $3.5 million transaction for a 17,720-sf industrial property in Las Vegas.

Si Pitstick, CCIM, with Newmark Knight Frank represented Lantana Cascade Investors Ltd. in its $16.65 million sale of a 479,598-sf industrial property in Cincinnati to Vegas Decatur LLC. Pitstick also represented an undisclosed lessor in a more than $10.96 million lease for a 640,000-sf industrial facility in Memphis, Tenn. 

Multifamily

Big Deal: Beau Beery, CCIM, with Coldwell Banker Commercial Worldwide represented both undisclosed parties in the $30.35 million sale of GREMCO Portfolio, a 461-unit multifamily property in Gainesville, Fla.

Beau Beery, CCIM, with Coldwell Banker Commercial M.M. Parrish in Gainesville, Fla., represented an undisclosed seller in the $4.2 million sale of a 60-unit multifamily property in Tallahassee, Fla.

Devin Lee, CCIM, with Access Commercial Mortgage represented an undisclosed seller in the more than $4.53 million sale of Revive Arts District Studios, a 56-unit multifamily property in Las Vegas.

Mixed-Use

Big Deal: Dan Kemp, CCIM, with Compass Commercial Real Estate Services represented Chandler Center LLC in its $13.15 million purchase the Bend Bulletin building, which includes 86,445 sf of office and industrial space on 9.78 acres, in Bend, Ore., to Western Communications.

Phil Fischler, CCIM, with Fischler Property Company represented 2282 First Street LLP in its $4.4 million sale of a 20,733-sf mixed-use property in Fort Myers, Fla., with office, retail, and restaurant tenants to PSFH Fort Myers LLC.

Keoni Fursse, CCIM, with Kokua Realty represented both parties in Azalea Communications LLC’s $3.05 million sale of a 35,543-sf mixed-use property in Kahului, Hawaii, to NSI Paahana LLC.

Specialty

Big Deal: David Fritz, CCIM, and James Barnett, CCIM, with NAI KLNB in Ellicott City, Md., represented both parties in the Baptist Family LLC’s $4.1 million sale of a specialty property to 821 Fieldcrest Road LLC in Cambridge, Md. The 40,180-sf, 75-bed hospital will be converted to a drug rehabilitation facility.

Hospitality

Big Deal: Daren Hebold, CCIM, with LUX Realty in Portland, Maine, represented Captain Lord Mansion Inc. in its $6.1 million sale of a 21-suite hospitality property in Kennebunkport, Maine, to Kennebunkport Captains Collection Holdings LLC.

 

CCIM ROI

CCIM ROI

Left to right: Daniel Berger, CCIM, SIOR; Daniel Berger, Jr., CCIM; Bill Boben, CCIM, SIOR; Brian Davison, CCIM, SIOR; and Gregg Doshna, CCIM.

It goes without saying commercial real estate depends on relationships, but a recent transaction exemplified that truism. Five CCIMs were involved in a deal for a 132,000-sf industrial warehouse in Denver, Pa., representing both the buyer and seller. Father-and-son team of Daniel Berger, CCIM, SIOR, and Daniel Berger, Jr., CCIM, with U.S. Commercial Realty in Lancaster, Pa., represented Esbenshade’s Garden Centers in its $5.8 million purchase. The seller, Bollman Hat Company, had three CCIMs — Bill Boben, CCIM, SIOR; Brian Davison, CCIM, SIOR; and Gregg Doshna, CCIM, with High Associates Ltd. in Lancaster, Pa. — on its side.

With this many representatives involved, the younger Berger shares out how the CCIM designation helped establish a level of understanding.

“It’s a major benefit knowing that we are looking at all factors, besides just price in evaluating the deal,” he says about working with CCIM designees. “[We were] working as a team rather than butting heads to bring the transaction to a successful closing and a win-win for everyone involved.”

The property initially caught the buyer’s attention in April 2019 because of its prime location, directly off the Pennsylvania Turnpike and roughly between the Reading and Lancaster markets. The biggest challenge proved to be leasing back roughly half the building for a year with two, six-month options. In this case, Davison says having a team of CCIMs helped solve that issue.

“It helped with experience, ethics, knowledge of typical lease back and purchase details, professionalism, and attention to detail,” Davison says.

In addition to the relationships among the clients and agents, Berger Jr. notes how special it has been to be a part of a family business, providing the opportunity to build an intergenerational business.

“It’s been a great learning experience,” Berger Jr. says, “and I’m thankful to have more time with my father than most people get on a daily basis. We work great together — a great blend of old-school and modern ideology and methodology.”