Deal Makers

CCIM Deal Makers

AScottHenry

The Biggest Deal

A. Scott Henry, CCIM, represented B.H. Properties in its $50 million purchase of Preston Shepard Place, a 361,855-sf retail property in Plano, Texas, from an undisclosed seller. 

Multifamily

BIG DEAL Devin Lee, CCIM, with Northcap Commercial represented an undisclosed seller in the $23 million sale of a 232-unit multifamily property in Las Vegas to an undisclosed buyer. He also represented an undisclosed seller in the $8.4 million sale of a 60-unit multifamily asset in Las Vegas.

Gary Lyons, CCIM, and Chris Fraser, CCIM, with Avison Young in Greenville, S.C., represented Cora LL in its $14 million sale of a 59,903-sf multifamily property to Engineering Partners LLC.

Mike Migone, CCIM, with SVN Commercial Advisory Group represented Sarasota Presidential LLC in its more than $11.58 million purchase of an 84-unit multifamily property in Sarasota, Fla., from Presidential Associates Land Trust.

Michael Minard, CCIM, Marcus Pitts, CCIM, and Justin Lossner, CCIM, with JLL represented an undisclosed seller in the $16.75 million sale of a 196-unit multifamily property in Ankeny, Iowa, to an undisclosed buyer. They also represented another undisclosed seller in the $4.2 million sale of a 36-unit multifamily asset in Ankeny. Minard, Pitts, and Lossner represented a third undisclosed seller in the $3.4 million sale of a 253-unit multifamily property in Des Moines, Iowa.

Office

BIG DEAL Dan Adamski, CCIM, with JLL represented Incline Equity Partners in its more than $10.5 million lease of 27,069 sf of office space in EQT Plaza in Pittsburgh from an undisclosed lessor. He also represented IBEX Global Solutions Inc. in its more than $5 million lease of 35,528 sf of office space in Pittsburgh.

Sage Andress, CCIM, with Sunmark Realty represented Peachie LLC in its $6.75 million sale of a 33,684-sf office property in Tampa, Fla., to Tampa Waters LLC.

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

Fred Kermani, CCIM, with CRE Consultants in Naples, Fla., represented Infinite 3049 LLC in its $3.05 million sale of a 40,182-sf office property in Fort Myers, Fla., to Infinitus Calicem Holdings LLC.

Neil Merin, CCIM, and a colleague with NAI/Merin Hunter Codman in West Palm Beach, Fla., represented 1 East Broward Owner LLC in its more than $4.61 million lease of 8,785 of office space to GSA Public Defenders.

Patrick Murray, CCIM, with Grant-Murray Real Estate in Fayetteville, N.C., represented an undisclosed seller in the $9.34 million sale of 35,188 sf of medical office space across locations to an undisclosed buyer.

Land

BIG DEAL Russell Noll, CCIM, with Transwestern in San Antonio, represented an undisclosed seller in the $15.5 million sale of 24 acres of land in Boerne, Texas, to an undisclosed buyer.

Sage Andress, CCIM, with Sunmark Realty in Tampa, Fla., represented both parties in Port Charlotte Lots LLC’s $3.5 million sale of 351 lots in a Placida, Fla., subdivision to Placida Meridian LLC.

Brian Elrod, CCIM, and Daniel Bennett, CCIM, with NAI/Elrod Group in Watkinsville, Ga., represented an undisclosed seller of 61.79 acres of land in Athens, Ga., for more than $4.49 million to an undisclosed buyer.

Michael Minard, CCIM, Marcus Pitts, CCIM, and Justin Lossner, CCIM, represented an undisclosed seller in the $3.75 million sale of 55 acres in Cedar Rapids, Iowa, to an undisclosed buyer. The trio also represented an undisclosed seller in the $3.4 million sale of 80 acres in Bondurant, Iowa, to an undisclosed buyer.

Retail

BIG DEAL Jordan Rieffenberger, CCIM, with Lloyd Companies in Sioux Falls, S.D., represented an undisclosed seller in the $33.9 million sale of a 196,794-sf Fleet Farm retail property in Cedar Rapids, Iowa, to an undisclosed buyer.

Russell Noll, CCIM, with Transwestern in San Antonio represented an undisclosed seller in the more than $4 million sale of a 12,000-sf retail property in Boerne, Texas, to an undisclosed buyer.

Jason Reddington, CCIM, and David Wallach, CCIM, with LevRose Commercial Real Estate in Glendale in Scottsdale, Ariz., represented an undisclosed seller in the $6.6 million sale of a 16,706-sf retail property in Glendale, Ariz., to an undisclosed buyer. The two also represented Wallach in the $4.1 million sale of Glendale Crossing, a 10,595-sf retail property, to an undisclosed buyer.

Financing

BIG DEAL Len Deering, CCIM, represented an undisclosed buyer in arranging a $27.2 million mortgage for a 247-unit multifamily property in Roselle, Ill., from an undisclosed seller.

Byron Aynes, CCIM, with the Overton Group represented the Keystone Management Company in its $11.75 million financed purchase of a 136-unit multifamily property in New Bern, N.C., from an undisclosed seller.

Neil Sherman, CCIM, with Insignia CRE / Sperry Commercial Global Affiliates in Phoenix, represented four sellers in the more than $6.16 million financed sale of four multifamily properties on 4.51 acres in Tempe, Ariz., to Milhaus Properties.

Industrial

BIG DEAL James Center, CCIM, and two colleagues with Newmark in City of Industry, Calif., represented Swanson Revocable Trust in its more than $30.9 million, 87-month lease of 350,000 sf of industrial space to DNA Motors Inc., represented by Johnson Chien, CCIM.

Dominic Brunetti, CCIM, Chris Shanks, CCIM, and another colleague with Dickson Commercial Group represented an undisclosed seller in the more than $26.2 million sale of a 128,259-sf industrial property in Reno, Nev., to Hidden Valley LLC.

Bryce Custer, CCIM, with NAI Spring in Weirton, W.V., represented an undisclosed lessee in the $14.4 million lease of 275,000 sf of industrial space in North Canton, Ohio, from an undisclosed lessor. He also represented ADO Industries in its $4 million purchase of a 38-acre industrial property in Moundsville, W.V.

Tom Fennell, CCIM, with Dickson Commercial represented an undisclosed seller in the $5.45 million sale of a 14.760-sf industrial property in Reno, Nev., to an undisclosed buyer.

Eric Frickle, CCIM, and two colleagues represented CPT Condor Longitude LLC in its $15 million, 7-year lease of a 165,257-sf industrial property in Corona, Calif., to Mediland Corporation. He also represented Benton Road Ventures LLC in its $6.2 million purchase Platinum Collision Center, a 22,644-sf industrial space in Winchester, Calif., from W Development Partners of Temecula LLC.

Stephen Jacquemin, CCIM, with LevRose Commercial Real Estate in Scottsdale, Ariz., represented an undisclosed seller in a $14.9 million transaction for a 162,500-sf industrial asset to an undisclosed buyer.

Brian Ker, CCIM, represented Snowball Developments LLC in its $8.65 million purchase of a 75,650-sf industrial property in Garfield, N.J., from an undisclosed seller.

Dee Maret, CCIM, with Bridgewater Commercial Real Estate in Saint Petersburg, Fla., represented both parties in Morrow Properties LLC’s $3.75 million sale of a 3.19-acre industrial property in Pinellas Park, Fla., to G2 Harness LLC.

 

CCIM ROI

Spring22ROI

Phil Fischler, CCIM, and Steve Cunningham, CCIM 

Redeveloping downtown waterfront assets can look good when everything is said and done, but commercial real estate professionals are paid to handle all the odds and ends that come along with such complex legacy assets. One case? The recent $20 million deal for a 10-parcel property near downtown Fort Myers, Fla., that included a chain restaurant, hotel, and 131-slip marina. 

Phil Fischler, CCIM, and Michael Curran, a colleague at Fischler Properties who is also a candidate member, represented NRIA, a New Jersey development company that expects to spend more than $175 million in redevelopment. 

“It had survived as a mom-and-pop-style 1970s travel lodge motel, but its time has come to be repurposed,” Fischler says. “The patriarch of the family had passed it on to the family, who had unsuccessfully tried to sell it several times over the years.”

The issues tied into any potential sale were many and included the on-site restaurant with a challenging lease renewal, submerged land leases that included governmental involvement, and title issues. Selling real estate with three separate income streams — a hotel, marina, and leased restaurant — made the transaction inherently difficult.

But Steve Cunningham, CCIM, MAI, SRA, who represented the family trust, brought more than 40 years of experience to the table. Along with that professional track record, he also had an established relationship with the sellers.

“I have been involved with the family for over 20 years,” Cunningham says. “I helped them assemble the land that is the subject of this sale, and I have consulted with them regarding this and other properties."

The family trust was looking for a buyer who could handle significant development and had interest in the existing marina — both boxes that were checked by Fischler and Curran’s client. The two sides managed to work through the various unique considerations involved in the transaction, finally closing the deal on Dec. 30, 2021.

“This deal was highly confidential, extremely complex, and required a high level of both technical expertise and deal-structuring experience,” Fischler says. “Having CCIMs on both ends of the deal was critical in navigating the various obstacles and executing on the solutions that ultimately led to the transaction getting over the goal line.”

ROI_Drone

Submit your qualifying deals to CCIM Deal Makers at www.ccim.com/deal-makers.

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