Deal Makers

CCIM Deal Makers

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The Biggest Deal

Ryan Goeller, CCIM, Kevin Goeller, CCIM, and Chase Stewart, CCIM, with NAI KLNB in Tysons, Va., represented JK Land Holdings in its $115.7 million sale of an 89-acre industrial property in Aldie, Va., to Amazon Data Services Inc. 

Office

Big Deal: A. Scott Henry, CCIM, represented B.H. Properties in Dallas in the $22.25 million purchase of a 100,000-sf, 10-story office property in San Antonio from CPS Energy.

Rhett Craig, CCIM, and two colleagues with Avison Young - South Carolina represented VLH Capertree LLC in its $3.05 million purchase of a 1.2-acre, 11,339-sf office property in Travelers Rest, S.C., from Dialysis Venture Partners.

Steve Dorenbush, CCIM, with Keller Williams Commercial in Puyallup, Wash., represented both parties in the more than $9.26 million sale of a 29,962-sf office property in University Place, Wash., from an undisclosed seller to 2901 Bridgeport Way West LLC.

Stephen Jacquemin, CCIM, with Sperry Commercial in St. Louis represented an undisclosed buyer in the $22 million sale/leaseback of an 80,000-sf office property in Pacific, Mo., to ADB Companies.

Neil Merin, CCIM, with NAI/Merin Hunter Codman represented an undisclosed lessor in the more than $5.08 million lease of a 22,224-sf office property in Palm Beach Gardens, Fla. He also represented AMG Properties LLC in its more than $4.79 million lease of Phillips Point, a 15,176-sf office property in West Palm Beach, Fla., from an undisclosed lessor.

John Millner, CCIM, with Versa RES in West Chicago, Ill., represented an undisclosed seller in the $3.2 million sale of a 56,000-sf office property in Oak Brook, Ill., to an undisclosed buyer.

Hospitality

Big Deal: Brian Resendez, CCIM, with SVN | Bluestone & Hockley in Beaverton, Ore., represented Hina Hospitalities LLC in its $11 million sale of a 154-unit hotel property in Medford, Ore., to CV The Loring, LLC. He also represented Philip Rich Corporation in its more than $6.94 million sale of a 70-unit Comfort Inn & Suites in Portland, Ore., to Central City Concern. Resendez also represented both parties in the $6.65 million sale of a 75-unit hotel from Community Development Corporation of Oregon to Northern Oregon Lodging LLC.

Retail

Big Deal: Matt Stone, CCIM, and Justin Ryder, CCIM, with SVN | Stone Commercial Real Estate represented DF Lexington Properties LLC in its $17.4 million sale of the Mist Lake Shopping Center, a 217,292-sf retail space in Lexington, Ky., to S & P Holdings LLC.

Liz Clare, CCIM, with Avison Young in Las Vegas represented Horizon Town Center LLC in its $10.34 million sale of Horizon Town Center, a 95,379-sf retail property in Henderson, Nev., to Avatar Foods.

Philip Holman, CCIM, with the Mattiace Company represented AutoZone in its $3.5 million lease of a 31,900-sf retail space in Jackson, Miss., from an undisclosed lessor.

Financing

Big Deal: Jason Reddington, CCIM, and two colleagues with LevRose Commercial Real Estate represented an undisclosed seller in a $7.5 million financed transaction for a 45,531-sf office property in Scottsdale, Ariz., to an undisclosed buyer.

Multifamily

Big Deal: Marcus Pitts, CCIM, Justin Lossner, CCIM, and Michael Minard, CCIM, with JLL represented an undisclosed seller in the $28.6 million sale of a 261-unit multifamily property in West Des Moines, Iowa, to an undisclosed buyer.

Steve Dorenbush, CCIM, and a colleague with KW Commercial in Puyallup, Wash., represented both parties in the $10.5 million sale of a 91-unit multifamily property in Lakewood, Wash., from Twin Emeralds LLC to Oak Terrace SS LLC.

Devin Lee, CCIM, and three colleagues with Northcap Commercial represented Kangsok Kim in the $6.25 million sale of Desert Shores Villas Condos, a 50-unit multifamily property in Las Vegas, to an undisclosed buyer.

Land

Big Deal: David Bode, CCIM, with Rock Commercial Real Estate represented both parties in Briarwood Golf Club’s sale of 99.9 acres of land in York, Pa., to NorthPoint Development for $9.95 million. Heather Kreiger, CCIM, also represented Briarwood GC, while Kevin Hodge, CCIM, represented NorthPoint Development.

Peter Ciriello, CCIM, with LA Commercial in Santa Monica, Calif., represented an undisclosed buyer in the $4.6 million acquisition of 0.7 acres of land in Chatsworth, Calif., from an undisclosed seller intended for affordable housing.

John Edwards, CCIM, with Carolina Apartments Advisors in Myrtle Beach, S.C., represented an undisclosed buyer in the $3.3 million purchase of 17.19 acres of land zoned for multifamily development in Kannapolis, N.C., from an undisclosed seller.

Brian Elrod, CCIM, and Daniel Bennett, CCIM, with NAI Elrod Group in Watkinsville, Ga., represented an undisclosed seller in the more than $4.49 million sale of 272.24 acres of land in Social Circle, Ga.

Richard Gonzalez, CCIM, ALC, with National Land Realty in Tavares, Fla., represented an undisclosed foreign investor in the $8 million purchase of Drake’s Point, a 265-acre plot of land in Yalaha, Fla., from a seller represented by Ben Crosby, CCIM, ALC, also with National Land Realty.

Industrial

Big Deal: Brian Ahearn, CCIM, and a colleague with Butters Realty & Management in Coconut Creek, Fla., represented an undisclosed lessee in a 10-year lease of an 85,000-sf industrial space in Miami for $18.5 million from Ivy Realty.

Brian Ahearn, CCIM, and two colleagues with Butters Realty & Management represented Cabot Properties in its more than $14.6 million sale of a 75,800-sf industrial property in Pompano Beach, Fla., to an undisclosed buyer. Ahearn and a colleague also represented the Spice Lab in its 10-year lease of a 128,342-sf industrial property from Miami Industrial 2 LLC for more than $11.12 million.

Daniel Berger, CCIM, and Daniel Berger Jr., CCIM, with U.S. Commercial Realty represented an undisclosed buyer in the more than $7.1 million purchase of a 92,941-sf industrial property in Lancaster, Pa.

David Bode, CCIM, with Rock Commercial Real Estate in York, Pa., represented both parties in the $6.7 million sale of a 108,000-sf industrial property in Hanover, Pa., from Barnhart Drive Associates LP to 29 Barnhart Drive LLC.

Mike Migone, CCIM, with SVN Commercial Advisory Group in Sarasota, Fla., represented HPI Self Storage in its $6.5 million purchase of a 73,677-sf industrial property in Clearwater, Fla., from HB Sealing Products Inc.

Marcus Pitts, CCIM, and Justin Lossner, CCIM, with JLL represented an undisclosed buyer in the $9.8 million purchase of a 200,000-sf industrial property in Ankeny, Iowa. The colleagues also represented an undisclosed lessee in the more than $5.13 million lease of a 276,000-sf industrial space. Pitts and Lossner also represented an undisclosed seller in the $3.99 million sale of a 42,620-sf industrial property in Des Moines, Iowa, and an undisclosed seller in the $3.9 million sale of a 195,000-sf property in Johnston, Iowa.

Robin Santiago, CCIM, with SVN Capital West Partners represented Thai Quach in the more than $5.35 million purchase of a 18,720-sf industrial property in San Jose, Calif., from an undisclosed seller.

Tim Tran, CCIM, and a colleague with the Ivy Group in Fremont, Calif., represented both parties in the more than $4.19 million sale of the Las Plumas Commerce Center, a 15,481-sf industrial property from Vanguard Holdings LLC to Westcoast Precision Inc.

 

CCIM ROI

ROI

Kevin Hodge, CCIM, and David Bode, CCIM

The COVID-19 pandemic created more than its share of turbulence in the marketplace, but the immediate impact of the shutdowns in March and April 2020 could be felt in deals across sectors and locations. In Hanover, Pa., an hour north of the Baltimore metro area, a deal for 104 acres of land fell apart when the purchasing developer walked away from a $100,000 deposit and completed full entitlements.

According to Kevin Hodge, CCIM, with Rock Commercial Real Estate in York, Pa., who represented the seller, the buyer was only waiting for the tenant to vacate an old farmhouse when COVID-19 hit the U.S. After discussions of potential extensions to the deal, the seller eventually moved on from the transaction.

Fortunately for Hodge’s client, David Bode, CCIM, SIOR, also with Rock Commercial, was able to locate a new buyer, thanks in part to the legwork from the aborted transaction.

“Our depth of knowledge of players in the market allowed us to identify a buyer who was active in the market,” Bode says. “We could highlight the advantages of this site, and, even if [the buyer] didn’t want to continue the plans of what was approved, there was significant due diligence and base-level engineering that will be useful when they ultimately decide to develop the tract.”

The buyer, who paid $3.44 million for the vacant space, is a manufacturer that does not have immediate plans to develop the property, instead opting to secure the land for future needs in a tight market. With Bode and Hodge in the same firm, the two saw their close working relationship as a bonus that was a catalyst to this deal.

“Working together as a team, with an active flow of information about who is in the market, what properties are available or coming available, and status of current deals, allows us to provide our clients with the best service and bring deals to a close even when the inevitable bump in road occurs,” Bode says.

“Some bumps are bigger, like in this case, but in the end, we were even able to get the seller more net proceeds,” Hodge says.

Both agents being CCIMs was another advantage — one that is an important point of emphasis for Rock Commercial.

“Working with an agent who has shown through their CCIM designation that they are proven allows me to know I’m working with someone who is not only capable, but also approaches a transaction in a similar analytical nature,” Hodge says. “That is also why, in our office of 11 agents, eight are designees and another is a current candidate."

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