CCIM Deal Makers
The Biggest Deal
Michael Minard, CCIM, Marcus Pitts, CCIM, and Justin Lossner, CCIM, with JLL in Des Moines, Iowa, represented both undisclosed parties in the $54 million sale of a four-building industrial portfolio in eastern Iowa.
BIG DEAL John Heine, CCIM, with Investors Realty represented an undisclosed seller in its $19.35 million sale of Dahlman Flats, a 139,431-sf multifamily property in Omaha, Neb., to an undisclosed buyer.
Beau Beery, CCIM, with Beau Beery Multifamily Advisors represented both undisclosed parties in the $11.6 million sale of Lakeshore Villas, a 116-unit multifamily property on 7.14 acres in Gainesville, Fla.
Cindy Hill, CCIM, with KW Commercial in Encino, Calif., represented both parties in Amit Kleinberger’s $6 million sale of a 12-unit multifamily property in North Hollywood, Calif., to James Frost.
Devin Lee, CCIM, with Northcap Commercial represented Balubhai Patel Revocable Trust in its $8.3 million sale of St. Louis Suites, a 92-unit multifamily property in Las Vegas, to TGP St. Louis Associates LP.
BIG DEAL Marcus Pitts, CCIM, Justin Lossner, CCIM, and Michael Minard, CCIM, with JLL represented both undisclosed parties in the $5.2 million sale of 48 acres of land in Ankeny, Iowa.
Rick Egitto, CCIM, with Avison Young in Denver, represented Heirborn Partners LLC in its $4.5 million sale of 19.75 acres of land in Centennial, Colo., to Opus Development Corporation.
BIG DEAL Jill Rasmussen, CCIM, and two colleagues with Davis in Minneapolis, represented Davis Medical Investors LLC in its $37.8 million purchase of a 107,228-sf office property in Portland, Maine, from an undisclosed seller. Rasmussen also represented an undisclosed seller in the $5.5 million sale of Dean Lakes Health, a 19,122-sf office property in Shakopee, Minn., to MedCraft.
Sage Andress, CCIM, with Sunmark Realty, represented Peachie LLC in its $6.75 million sale of a 33,684-sf office building in Tampa, Fla., to an undisclosed buyer.
Cathy Jones, CCIM, and three colleagues with Sun Commercial Real Estate, represented an undisclosed seller in the $5.65 million sale of a 43,063-sf office property in North Las Vegas, Nev., to an undisclosed buyer.
Justin Lossner, CCIM, Marcus Pitts, CCIM, and Michael Minard, CCIM, with JLL represented an undisclosed lessee in the $5.1 million lease of 216,000 sf of office space in Urbandale, Iowa.
T.C. Macker, CCIM, with WESTMAC Commercial Brokerage Company in Los Angeles, represented an undisclosed seller in the $11.5 million sale of two office buildings in West Hollywood, Calif., to an undisclosed buyer.
John Millner, CCIM, with Versa RES in West Chicago, Ill., represented OTA Property LLC in its $5.4 million sale of a 56,000-sf office property in Oakbrook, Ill., to an undisclosed buyer.
Kathleen Morgan, CCIM, with Newmark Knight Frank in Phoenix, represented West Coast Capital Partners in its $33 million sale of a 91,805-sf office property in Gilbert, Ariz., to CA Ventures.
Jason Reddington, CCIM, with LevRose Commercial Real Estate in Scottsdale, Ariz., represented an undisclosed seller in the $4.47 million sale of Camelhead Business Center, a 37,914-sf office property in Phoenix to an undisclosed buyer.
Jorge Rodriguez, CCIM, and Ernest Brown, CCIM, with Rohde Ottmers Siegel, represented an undisclosed lessor in the $26.4 million lease of Schertz Professional Plaza and New Braunfels Surgical Center, an office property with 71,414 sf of space in San Antonio, to an undisclosed lessee.
BIG DEAL Larry Harwood, CCIM, with Q10 | Lutz Financial Services in Birmingham, Mich., represented an undisclosed borrower in the $26.3 refinancing of 814 multifamily units across three locations in Detroit.
Greg Bedell, CCIM, and two colleagues with Progressive Real Estate Partners in Rancho Cucamonga, Calif., represented an undisclosed Los Angeles County-based investor in the $8.8 million sale of Los Compadres Plaza, a 47,090-sf retail center in Colton, Calif., to an undisclosed buyer.
Brian Resendez, CCIM, with SVN | Bluestone & Hockley in Portland, Ore., represented JR & H Enterprises LLC in its $5.75 million sale of a 56-room hospitality property in Eugene, Ore., to CV 1190 at West Sixth LLC.
Todd Hamilton, CCIM, and Chris Shanks, CCIM, with Dickson Commercial Group in Reno, Nev., represented an undisclosed seller in its more than $26.23 million financed sale of 128,259 sf of industrial space on 10.2 acres of land to Hidden Valley LLC.
Cesar Cepeda, CCIM, and one colleague with Remax Associates in San Antonio, represented RCBS LP in its $7 million sale of Jackson Hospital, a 32,000-sf medical property in McAllen, Texas, to Cyclops LP.
Todd Hamilton, CCIM, and Nick Gustafson, CCIM, represented ADL Properties LLC in its $4.75 million purchase of a 16,706-sf retail property in San Tan Valley, Ariz., from an undisclosed seller.
BIG DEAL Steven J. Martens, CCIM, and a colleague with NAI Martens, represented LeaseCorp Aviation in its $8.51 million sale of four airport hangars totaling 96,536 sf in space in Wichita, Kan., to an undisclosed buyer.
BIG DEAL Meghan O’Neil-Rogozinski, CCIM, with Coldwell Banker Commercial Real Estate Group, represented Adidev Developers Real Estate LLC in its $3.25 million purchase of the Chateau Hotel and Conference Center, a 180-room hospitality property in Bloomington, Ill., from SDO Fund II.
BIG DEALArthur J. Thomas III, CCIM, and a colleague with Coldwell Banker Commercial Devonshire Realty in Champaign, Ill., represented an undisclosed lessee in the $41 million, 7-year lease of 635,400 sf of industrial space in Decatur, Ill., from the Atkins Group.
Jennie Ching, CCIM, with KW Commercial in South Pasadena, Calif., represented both undisclosed parties in the $9.3 million sale of a 39,417-sf industrial property in Ontario, Canada.
Todd Hamilton, CCIM, with Citywide Commercial in Phoenix, represented Red Ryder Ranch LLC in its $34.5 million purchase of a 11,870-sf industrial property in Phoenix from an undisclosed seller. He also represented both parties in ARC Chandler 202 LLC’s $9.12 million purchase of a 55,090-sf industrial property in Chandler, Ariz., from an undisclosed seller. Additionally, Hamilton represented both parties in an undisclosed seller’s $5.7 million sale of a 48,055-sf industrial site to Pitts International LLC.
Marcus Pitts, CCIM, Justin Lossner, CCIM, and Michael Minard, CCIM, with JLL represented an undisclosed seller in the $16.5 million sale of a 250,000-sf industrial property in Des Moines, Iowa, to an undisclosed buyer. The three also represented an undisclosed buyer in the $9.8 million purchase of a 275,000-sf industrial property in Davenport, Iowa, and the lessor in the $3.3 million lease of 52,000 sf of industrial space in Urbandale, Iowa.
BIG DEAL Sandy Shindleman, CCIM, with Shindico in Winnipeg, Manitoba, represented Staples in the $6 million, seven-year lease of 715,000 sf of retail space in Regina, Saskatchewan, from Forster Harvard.
Frank C. Martin III, CCIM, and Matt Huff, CCIM
Saying timing is everything may be a bit hyperbolic — CCIMs, after all, play their parts in closing deals. But in completing the $9.5 million transaction for a 46,467-sf office building in Roanoke, Va., Frank C. Martin III, CCIM, and Matt Huff, CCIM, benefited from a timely confluence of factors during the global pandemic.
“[COVID-19] actually helped in my mind,” says Huff, who represented Goodview Properties LLC, the seller of the property. “The building was 75 percent occupied by a tenant, but because everyone was working from home, it made getting everything done easier.”
The national instability related to the pandemic was refreshingly absent in this case, with Huff’s client interested in selling and Martin’s client, Freedom First Federal Credit Union, looking to expand.
“Freedom First is a longstanding client that I have worked with through many transactions in the past few years,” Martin says. “For this property, they were looking to consolidate many of their offices into one highly visible downtown building with significant market presence. And this building — recently renovated in a cool, retro way — fit their needs perfectly.”
About that renovation: The office building has gone through a handful of iterations, some more appealing than others. It housed a chemical sales company previously, then lay vacant for a time, hosted a furniture store, and even boasted a bright orange exterior, which received mixed reviews. But a little over a decade ago, Huff’s clients completely rehabbed the building.
“This building is iconic to downtown Roanoke,” Matt Huff, CCIM, says. “It is very visible to nearby I-581 which is the main north-south traffic artery through Roanoke. The owner completely renovated the building when he purchased it in 2010 and created a modern office building that became a jewel in the downtown Roanoke skyline.”
While both representatives agreed the transaction progressed more smoothly than others, Huff and Martin credited each other’s abilities and professionalism in closing the deal.
“This was unique in that we did not have a single issue or problem that I was worried would torpedo the deal,” Martin says. “There were some quirks, such as the parcel (included in building parking lot) that is owned by the Commonwealth of Virginia, but we worked through that.”
A small issue like the parking lot proved less a bump in the road, thanks to a willingness and determination to do what needed to be done.
“I have to give Frank a lot of credit here, as he handled any issues that came up with the attitude that everything can be solved, and I really appreciate that,” Huff says.