Deal Makers

CCIM Deal Makers

RasmussenDealMakers

The Biggest Deal

Jill Rasmussen, CCIM, and two colleagues with Davis in Minneapolis represented MOB Investor Partners in its more than $160.6 million sale of a portfolio of medical offices to Davis MOB Investors LLC. Totaling 438,690 sf, the properties are located across several states in the U.S.

Office

Big Deal: Dan Adamski, CCIM, with JLL in Pittsburgh represented Novitas Solutions in its more than $18.26 million lease of 95,087 sf of office space in Mechanicsburg, Pa., from Tech Park Associates. Adamski also represented Westinghouse in a more than $8.35 million lease of 33,174 sf of office space to Seneca Resources, a more than $3.07 million lease of 18,800 sf of office space to Phoenix Rehabilitation, a more than $4.23 million lease to South College, and a more than $6.11 million lease of 22,568 sf of office space to Larson Design — all in Cranberry, Pa. Additionally, he represented Perkins Eastman in its more than $5.27 million lease of a 15,225-sf office property in Pittsburgh from FAC 525 LLC.

Ian Black, CCIM, represented Certified Collectibles Group in its $4.4 million purchase of 20,809 sf of office space in Sarasota, Fla., from Lake Jackson Venture LTD.

Dan Brunetti, CCIM, with Dickson Commercial Group represented an undisclosed buyer in the $11.2 million purchase of a 65,377-sf property in Reno, Nev. Along with three colleagues, he also represented Washoe Redevelopment in its $6 million purchase of a 21,781-sf medical office property in Sparks, Nev., from an undisclosed seller.

Deanna Collins, CCIM, and Michael Honc, CCIM, represented HC Lowry LLC in its $3.3 million purchase of a 6,641-sf office property in Denver from an undisclosed seller.

Tom Fennell, CCIM, with Dickson Commercial Group represented Fennemore Craig in its more than $3.5 million lease of 12,000 sf of office space at Village at Rancharrah in Reno, Nev., from Tolles Development Company, represented by Dominic Brunetti, CCIM. Fennell also represented an undisclosed lessee in a more than $3.38 million lease of a 16,472-sf office space in Reno.

Michael Frye, CCIM, with RE/MAX Realty Group in Fort Myers, Fla., represented Royal Palm Coast Holdings in its $5.25 million sale of a 55,499-sf office space in Cape Coral, Fla., to an undisclosed buyer.

Cathy Jones, CCIM, and three colleagues with Sun Commercial Real Estate represented an undisclosed seller in the more than $5.68 million sale of a portfolio of six office buildings in Las Vegas with a total of 50,754 sf to an undisclosed buyer.

Paula Lea, CCIM, and one colleague with Cushman & Wakefield represented an undisclosed party in leasing 29,112 sf of office space in Las Vegas for more than $9.31 million from an undisclosed lessor. Lea and two colleagues also represented an undisclosed buyer in the $5 million purchase of a 24,530-sf office property in Las Vegas from an undisclosed seller.

Marcus Pitts, CCIM, Justin Lossner, CCIM, and Michael Minard, CCIM, with JLL represented an undisclosed seller in the $10.5 million sale of an office property in Aktoona, Iowa. The trio also represented an undisclosed seller in the $5 million sale of a 36,436-sf office asset to an undisclosed buyer

Jill Rasmussen, CCIM, and a colleague with Davis in Minneapolis represented Xchange MOB Partners LLC in its more than 15-year, $14.32 million lease of a 19,000-sf office property in St. Louis Park, Minn., to a medical firm.

Jason Reddington, CCIM, with LevRose Commercial Real Estate represented an undisclosed seller in the more than $4.34 million sale of a 49,493-sf office building in Phoenix to an undisclosed buyer in a 1031 exchange. He also represented an undisclosed seller in the more than $4.07 million sale of a vacant 41,000-sf office property in Mesa, Ariz., to an undisclosed buyer. Reddington also represented Forever Corporate in its more than $3.41 million, 66-month lease of 23,020 sf of office space in Scottsdale, Ariz., to One American Bank.

Robin Santiago, CCIM, represented Scott Cooley in the sale of a 42,363-sf office property in San Jose, Calif., for $16.55 million to an undisclosed buyer. She also represented Walt Hoefler in the $4.8 million sale of a 6,780-sf office property in Cupertino, Calif., to the Great Enlightenment Lotus Society of Northern California.

Land

Big Deal: Jim Dunham, CCIM, and a colleague represented the buyer and seller, both undisclosed, in a $20 million deal for 21 acres of land in Sioux Falls, S.D.

Enn Luthringer, CCIM, with CRE Consultants represented Encompass Health Corp. in its more than $4.08 purchase of 7.31 acres of land in Cape Coral, Fla., from LG Pine Island and Pondella LLC.

Marc Magliarditi, CCIM, and two colleagues with Logic CRE represented an undisclosed seller in the $7.4 million sale of 12.95 acres of land in Las Vegas.

Steve Massell, CCIM, represented Red Rock LLC in its $5 million sale of 25 acres in Cumming, Ga., to Westshore Realty Partners.

Michael Reeves, CCIM, with Adams Commercial Real Estate represented Waken Meat Company in its $6.9 million sale of a 3.5-acre plot of land in Atlanta to Middle Street Partners.

Justin Thibaut, CCIM, with LSI Companies in Fort Myers, Fla., represented an undisclosed seller in the more than $6.72 million sale of 10.58 acres of land in Naples, Fla., to an undisclosed buyer.

Retail

Big Deal: Dave Wallace, CCIM, with CRE Consultants represented Golden Paws Assistance Dogs Inc. in the $6.35-million purchase of a 29,901-sf retail space in Naples, Fla., from TMCFM, Inc.

Daniel Berger, CCIM, with U.S. Commercial Realty in Lancaster, Pa., represented Good’s Store in its $4.55 million purchase of a 92,500-sf former Kmart retail property in Ephrata, Pa., from an undisclosed seller.

Michael Campbell, CCIM, with NNN Investment Co. in San Diego represented an undisclosed seller in the more than $5.77 million sale of a Starbucks location in Dana Point, Calif., to an undisclosed buyer.

Faraz Cheema, CCIM, and Ron Struthers,CCIM, with Coldwell Banker Commercial NRT in Potomac, Md., represented Coastal Land Inc. in the $3.7 million purchase of a 31,400-sf retail property in Richmond, Va., from WPB & DSF LLC through a 1031 exchange.

Terry Earnest, CCIM, with Chesterfield Commercial Realty represented HSW LLC and RMW1 LLC in its $7.15 million sale of a 153,682-sf retail property on 11 acres in North Chesterfield, Va., to 360W CAF1 LLC represented by Josh Peck, CCIM.

Gary Heinfeld, CCIM, Christi Royse, CCIM, and two colleagues represented an undisclosed seller in the more than $8.22 million sale of three Kneakers Café locations.

Amelia Henry, CCIM, with Logic Commercial Real Estate represented EQ Sahara LLC in its $8.6 million sale of a retail center in Las Vegas to VIV Sahara Rainbow LLC. She and a colleague also represented Sahara Fitness LTD in its more than $6.22 million sale of a 42,355-sf retail property in Las Vegas to Chad W. Clay.

A. Scott Henry, CCIM, represented BH Properties in Dallas in the $4.4 million purchase of an 87,000-sf retail property in Corsicana, Texas, that was formerly a Gander Outdoors, from an undisclosed seller.

Gary Lyons, CCIM, and a colleague with Avison Young represented LSP Verris Eastchester LLC in the $9.45 sale of Eastchester Shopping Center, a 63,000-sf retail property in High Point, N.C., to Peters Development LLC.

Rebecca Martin, CCIM, and a colleague with RBM Real Estate Solutions represented Aidan Inc. in its $4.2 million purchase of Merryhill School, a 11.090-sf retail property in Lone Tree, Colo., from Carlyle Holdings LLC. Martin and a colleague also represented NDoubled LLC in its $3.6 million purchase of a 11,609-sf retail property in Lone Tree from Akbeldiente LLC.

John Propp, CCIM, and Michael Honc, CCIM, represented T R Thompson LLC in the $6.26 million purchase of Thompson Parkway, a 15,140-sf retail property in Johnstown, Co., from Johnstown Plaza LLC.

Industrial

Big Deal: Frank Amodio, CCIM, represented Marketing Research Park LLC in its $10.6 million sale of a 200,000-sf industrial property in Suffield, Conn., to Rug Pad USA.

Todd Hamilton, CCIM, with Citywide Commercial in Phoenix represented an undisclosed buyer in the more than $3.18 million sale of a 29,995-sf industrial asset in Tempe, Ariz., from an undisclosed seller.

A. Scott Henry, CCIM, represented B.H. Properties in its $9.8 million purchase of a 187,000-sf industrial property in Laredo, Texas, with a short-term lease from an undisclosed seller. 

Gary Lyons, CCIM, and two colleagues with Avison Young represented ROIF 6000 Pelham LLC in the more than $5.07 million sale of a 64,607-sf industrial property in Greenville, S.C., to Diversified Medical Inc.

Marcus Pitts, CCIM, Michael Minard, CCIM, and Justin Lossner, CCIM, with JLL represented an undisclosed seller in the $8.6 million sale of a 163,360-sf industrial property in Bettendorf, Iowa. Pitts and Lossner also represented both undisclosed parties in the $3 million sale of a 56,000-sf industrial property in Ankeny, Iowa. 

William Rollins, CCIM, and Justin Thibaut, CCIM, with LSI Companies in Fort Myers, Fla., represented Uline Inc. in the more than $45.3 million purchase of City Gate, a 103-acre industrial property in Naples, Fla., in two phases from an undisclosed seller.

Michael Yurocko, CCIM, with SLC Commercial Inc. in Stuart, Fla., represented Packers of Indian River in the $5.5 million sale of a 100,000-sf industrial property in Fort Pierce, Fla., from Contender Boats Inc., represented by Matthew Rotolante, CCIM.

Multifamily

Big Deal: Gary Cooper, CCIM, and Anthony DeMarco, CCIM, with Colliers International in Cleveland represented a court-appointed receiver in the $30.1 million sale of the Vista, a 949-unit multifamily property in Lakewood, Ohio, from a Chicago-based purchaser.

Jim Dunham, CCIM, and two colleagues with Jim Dunham & Associates represented an undisclosed seller in the $19.7 million sale of a 134-unit multifamily property in Sioux Falls, S.D., to an undisclosed buyer. He and two colleagues also represented the seller in the $9.8 million sale of Graystone Townhomes, a 66-unit multifamily property in Sioux Falls, to an undisclosed buyer. In addition, Dunham and one colleague represented the seller in the $7.7 million sale of Santa Rosa Townhomes, a 65-unit multifamily property in Sioux Falls, to an undisclosed buyer represented by Jordan Rieffenberger, CCIM.

Cathy Jones, CCIM, with Sun Commercial Real Estate represented an undisclosed seller in the more than $4.28 million sale of a 55,850-sf multifamily property in Las Vegas to an undisclosed buyer.

Devin Lee, CCIM, and three colleagues with Northcap Commercial represented an undisclosed seller in the more than $27.27 million sale of Pinehurst Condominiums, a 197-unit multifamily property in Las Vegas, to an undisclosed buyer. Lee and three colleagues also represented an undisclosed seller in the $22.15 million sale of Hilltop Villas and Stewart Villas, five multifamily properties with a total of 226 units in Las Vegas, to an undisclosed buyer.

Marcus Pitts, CCIM, Michael Minard, CCIM, and Justin Lossner, CCIM, with JLL represented an undisclosed seller in the $55 million sale of a 775-unit multifamily property in Cedar Rapids, Iowa. The three also represented an undisclosed seller in the $22.45 million sale of a 328-unit multifamily property in Cedar Rapids to an undisclosed buyer.

Mixed-Use

Big Deal: Justin Thibaut, CCIM, with LSI Companies in Fort Myers, Fla., represented an undisclosed seller in a $6 million sale of a 174.67-acre mixed-use development in Bonita Springs, Fla., to an undisclosed buyer.

Jason Reddington, CCIM, David Wallach, CCIM, and a colleague with Levrose Commercial Real Estate in Phoenix represented Triumph Real Estate Investment Fund in its more than $4.67 million purchase of a 29,000-sf mixed-use property in Scottsdale, Ariz., from Red Rock Worldwide LLC.

Financing

Big Deal: Glenn Thomas, CCIM, with Pathway Capital Corp. in Nyack, N.Y., arranged for a $73.5 million loan through Madison Capital Realty for an eight-property portfolio in New Jersey.

Devin Lee, CCIM, and a colleague arranged the $5.6 million financing for MCR Apartments, a 111-unit multifamily property in Las Vegas, for LMNOP Properties LLC.

Tim Tran, CCIM, with the Ivy Group in Fremont, Calif., represented both undisclosed parties in financing the more than $3.17 million SBA loan for a 11,416-sf industrial property in Union City, Calif.

John Trost, CCIM, with SVN | Alliance Commercial Real Estate Advisors represented both undisclosed parties in financing the more than $3.11 million loan for Lakeside Executive Park, a 24,000-sf office property in Port Orange, Fla.

Hospitality

Big Deal: Hugh Wade, CCIM, with Spire Commercial in Anchorage, Alaska, represented The New Lion LLC in the $9.3 million sale of a 60,290-sf hotel property to the Municipality of Anchorage.

Brian Resendez, CCIM, with SVN | Bluestone & Hockley in Portland, Ore., represented an undisclosed seller in the $3.25 million sale of a 132-unit hotel property in Spokane, Wash., to Kapoor & Kamal LLC.

Specialty

Big Deal: Mark Illsley, CCIM, and two colleagues with CRBE in Phoenix represented both buyer and seller in the $15.25 million sale of Gig Harbor RV Resort, a 10.9-acre, 115-site property in Gig Harbor, Wash. 

Robert Adams, CCIM, with Adams Commercial Real Estate represented the Urban Redevelopment Agency of the City of Decatur in its more than $4.92 million purchase of a 22,000-sf specialty property in Decatur, Ga., from Boys & Girls Clubs of Metro Atlanta.

Cameron Jeffs, CCIM, with Coldwell Banker Commercial represented an undisclosed seller in the $4.15 million sale of a 29-acre specialty property in Pescadero, Calif., to Lemon Hill LLC.

Curtis Skomp, CCIM, with RE/MAX All Keys Real Estate in Key West, Fla., represented an undisclosed seller in the $5 million sale of a marina in Marathon, Fla., to an undisclosed buyer.

 

CCIM ROI

DM ROI Winter 2021

Tom Fennell, CCIM, and Travis Hansen, CCIM

Considering the immediate and all-encompassing impact of the COVID-19 pandemic’s first wave last year, it’s easy to forget the extended timeline of many transactions in commercial real estate. Whether buying acres of vacant land or selling a downtown retail location, many people look well beyond 12, 24, or 48 months.

Considering the immediate and all-encompassing impact of the COVID-19 pandemic’s first wave last year, it’s easy to forget the extended timeline of many transactions in commercial real estate. Whether buying acres of vacant land or selling a downtown retail location, many people look well beyond 12, 24, or 48 months. After the initial shutdown in the U.S., Tom Fennell, CCIM, with Dickson Commercial Group in Reno, Nev., met with a client looking to expand — and expand quickly — due to business growth related to COVID-19. Fennell eventually came across an 89,259-sf industrial property on the market. Represented by Travis Hansen, CCIM, the undisclosed seller discovered just how competitive the market was for available warehouse space.

“There were competing offers for the site,” Fennell says. “The buyer that was awarded the deal had to move quickly and put up nonrefundable money upon the opening of escrow, which speaks to the competitiveness and lack of inventory in our market.”

The two sides also negotiated a phased leaseback after the closing to accommodate the seller while it found a secondary location for its operations. Fennell and Hansen were both happy to be dealing with industry-leading professionals while tying up the loose ends of a time-sensitive and intricate transaction.

“We always find another CCIM [designee] great to work with because they have an added level of competency,” Fennell says. “Considering the added complexity of this transaction during COVID-19, it was reassuring to know I was working with an experienced and knowledgeable counterpart.”

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