Deal Makers

CCIM Deal Makers

David Gilmore, CCIM

The Biggest Deal

David Gilmore, CCIM and three associates with SVN Auction Services represented the Utah Department of Transportation in the $25.11 million sale of multiple properties to undisclosed buyers.

Office

Big Deal: T.C. Macker, CCIM, with WESTMAC Commercial Brokerage Company in Los Angeles represented an undisclosed buyer in the $12.75 million acquisition of a 41,058-sf office property in Woodland Hills, Calif., from an undisclosed seller.

Dan Adamski, CCIM, with JLL represented the Allegheny Health Network in the $9.26 million lease of 151,255 sf of office space in Zelienople, Pa., from the Buncher Company. He also represented Caden Design Systems in its $6.21 million lease of a 17,626-sf office property in Pittsburgh and Wexford Health in its $4.88 million lease of a 38,716-sf office property in Pittsburgh from Foster IV Associates. Finally, he represented Continental Real Estate Companies in its $4.57 million lease of a 26,100-sf office property in Coraopolis, Md., from Power Home Remodeling.  

Dominic Brunetti, CCIM, and Chris Shanks, CCIM, with Dickson Commercial Group represented an undisclosed buyer in the purchase of a 65,377-sf office property in Reno, Nev., for $11.2 million from Billin LLC.

Steve Hyatt, CCIM, with Berger Commercial Realty represented Bright Angel in the $4.8 million sale of Cypress Creek Center, a 38.707-sf office property in Fort Lauderdale, Fla., to South Florida Innovative Office.  

Jeff Hathaway, CCIM, with the Hathaway Group represented Arkansas Federal Credit Union in its $12.25 million purchase of Family Life Headquarters, a 97,000-sf office property in Little Rock, Ark., to FLTI Inc.  

Marc Magliarditi, CCIM, and two colleagues with Logic Commercial Real Estate represented an undisclosed seller in the $3.69 million sale of Fort Apache Point Office, two buildings with 15,260 sf of office space in Las Vegas, to an undisclosed buyer.

Trisha Talbot, CCIM, and Kathleen Morgan, CCIM, with Newmark Knight Frank in Phoenix represented CDF Investment Group in the $3.53 million sale of a 16,551-sf office property in Sun City West, Ariz., to CRG Cambridge Medical LLC.  

Land

Big Deal: George Renz, CCIM, with Renz & Renz in Gilroy, Calif., represented both the buyer and seller in the Kline Family's $12.25 million sale of 13.55 acres in San Jose, Calif., to an undisclosed buyer.

Peter Ciriello, CCIM, with LA Commercial in Santa Monica, Calif., represented an undisclosed buyer in the $7.75 million acquisition of 27,000 sf of land in Los Angeles.

John Edwards, CCIM, with Carolina Apartment Advisors represented Caviness & Cates in the $3.2 million purchase of 15.5 acres of land in Myrtle Beach, S.C., from LStar Capital for development into a 264-unit multifamily development.

Retail

Big Deal: Faraz Cheema, CCIM, with Coldwell Banker Commercial NRT in Potomac, Md., represented an undisclosed lessee in three leases of $18.95 million in retail space.

Ken Bailey, CCIM, with NAI TALCOR represented an undisclosed lessor in the $3.45 million lease of a retail property in Dothan, Ala., from America's Thrift Stores.

Stefanie Cosentino, CCIM, with Cosentino Realty Group in Commack, N.Y., represented an undisclosed seller in the $3.38 million sale of a 3,185-sf Citibank property in Manhasset, N.Y., to an undisclosed buyer.

Tony Gagliano, CCIM, with Core Real Estate Group represented McCann Family Farms Inc. in its $7.09 million purchase of six Dollar General stores in St. Louis from Postal Building & Leasing. 

Nick Miner, CCIM, with Orion Investment Real Estate in Scottsdale, Ariz., represented the Tabani Group in the $6.3 million sale of Brittany Square, a 49,004-sf retail property in Glendale, Ariz., to Ismart Investments LLC.

Industrial

Big Deal: Arnold Ng, CCIM, with Apex Commercial Real Estate Inc. represented an undisclosed lessor in the $4 million lease of a 37,000-sf industrial property in Torrance, Calif.

Todd Garrett, CCIM, and two colleagues with Avison Young in Charleston, S.C., represented UMB Bank in its $3.05 million sale of an 85,325-sf industrial property in Moncks Corner, S.C, to Jet Park Warehousing.

Multifamily

Big Deal: Todd Clarke, CCIM, with NM Apartment Advisors represented Huong Hanley in the $20 million sale of Atrisco Apartments, a 30-unit multifamily property in Albuquerque, N.M., to James Li. 

Chris Cervelli, CCIM, with Cervelli Real Estate & Property Management in North Bergen, N.J., represented both buyer and seller in the $3.75 million sale of a 29-unit multifamily property in Jersey City, N.J.

Patrick Gallagher, CCIM, Matson Holbrook, CCIM, and Gretchen Richards, CCIM, with CBRE Wisconsin in Milwaukee represented an undisclosed seller in the sale of Bridlewood, a 112-unit, 117,600-sf multifamily property in Pewaukee, Wis., for $15.96 million to Metropolitan Associates.

Devin Lee, CCIM, and three colleagues with Northcap Commercial represented an undisclosed seller in the $6.75 million sale of Summer Place Apartments, a 112-unit multifamily property in Las Vegas, to an undisclosed buyer.

George Renz, CCIM, with Renz and Renz in Gilroy, Calif., represented Firenze in its $7.02 million sale of a 17-unit, 13,771-sf multifamily property in San Mateo, Calif.

Mixed-Use

Big Deal: R. Craig Finfrock, CCIM, with Commercial Retail Advisors in Tucson, Ariz., represented Old Vail Station in its $8.2 million sale of a 58,563-sf mixed-use property to Occidental Capital Holdings.

 

CCIM ROI

CCIM Deal Makers ROI

Ron Ross, CCIM, and Terry O’Neil, CCIM 

As the world has seemingly turned upside down in recent months, with a global pandemic leading to economic and public health crises, it’s important that life goes on. And for commercial real estate, business also goes on, though in a slightly modified manner.

Ron Ross, CCIM, and Terry O’Neil, CCIM, with Compass Commercial Real Estate Services in Bend, Ore., completed a $8.63 million deal for an office property that began earlier in 2020, well before COVID-19 wreaked havoc on American soil.

The partners helped Schrapf Investments LCC acquire a five-building, 69,000-sf office property in Eugene, Ore., all while the pandemic created tumult across the country. The location, known as Country Club Professional Center, sits on 4.5 acres, with total occupation at 96 percent at the time of the deal.

Negotiations began earlier this year, before the pandemic. Despite the instability that came with COVID-19’s spread across the U.S. in March and April, the two parties continued to move forward with negotiations. The key to the deal, Ross says, was the buyer’s long-term plans for the property. Scharpf Investments expects to hold onto the asset for decades, meaning the immediate uncertainty is less of a concern with a horizon stretching that far into the future.

“The buyer’s long-term investment horizons provide them with the ability to not be overly concerned with the short-term volatility,” Ross says.

Scharpf Investments is currently speaking with the more than 30 tenants on maintaining and extending leases, though the new owners plan to upgrade different areas of the five buildings upon turnover.

Ross credits the success of helping the buyer achieve its goal of taking ownership of the Country Club Professional Center to a comfortable, trusting working relationship with his partner, Terry O’Neil. Both CCIM designees, the two can leverage their experience and industry knowledge to help clients – even in times as tumultuous as these.

“Terry’s my business partner on many real estate deals,” Ross says. “It is awesome having his CCIM-trained expertise riding shotgun.”

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