CCIM Feature

Deal Makers

The Biggest Deal

Andrew Cheney, CCIM, and R. Craig Coppola, CCIM, of Lee & Associates in Phoenix represented Mainspring Capital in the 10-year, more than $24 million lease renewal of the 93,753-sf Corporate at Pima Center Building C in Scottsdale, Ariz., to First American Title Insurance Co. Cheney and Coppola also represented Yarvek LLC in the more than $11.5 million sale of the 73,377-sf Cotton Corporate Center building in Phoenix to Mutual of Omaha.

Industrial

Big Deal

J. Jeffrey Castell, CCIM, of Cassidy Turley in Indianapolis and Angela J. Wethington, CCIM, of Browning Investments in Indianapolis represented The Westminster Funds in the $21 million sale of the 522,358-sf Northeast Business Center in Indianapolis to Citimark. Wethington was employed by Cassidy Turley when the deal closed.

“Dennis R. Cronk,CCIM, and Matthew R. Huff, CCIM, of Poe & Cronk Real Estate Group in Roanoke, Va., represented an undisclosed seller in the $14.5 million sale of a 640,000-sf industrial property in Roanoke to Ardagh Metal Packaging USA.

A. Scott Henry, CCIM, of Mohr Capital in Dallas represented Mohr Capital in the purchase of a 497,500-sf former Scholastic Books distribution center in Little Rock, Ark., from an undisclosed seller. The project will have a total capitalization of $10 million.

Bruce N. Jackson,CCIM, of CBRE in Jacksonville, Fla., represented Compass Rose Foundation in the $5.2 million purchase of a 168,000-sf warehouse in Jacksonville from Cofe Fund One-Western Way LLC.

Mark Zamudio, CCIM, of Colliers International in San Jose, Calif., represented Oncore Manufacturing Services in the more than 5-year, more than $4.8 million lease of a 127,452-sf industrial property in Fremont, Calif., from Prologis.

James Snyder, CCIM, of Lee & Associates in Newport Beach, Calif., and a partner represented the Cunningham Family Trust in the more than $3.3 million sale of a 27,997-sf industrial property in Garden Grove, Calif., to Intra Storage Systems.

Aaron P. Cross, CCIM, of APC Realty LLC in Covington, La., represented L&J Investments LLC in the $3.1 million sale of a 72,500-sf light manufacturing facility in Picayune, Miss., to Avon Engineered Fabrications.

Multifamily

Big Deal

Handoko Widjaja Chen, CCIM, of Lee & Associates in Arcadia, Calif., negotiated the more than $7.7 million sale of an 81-unit multifamily property in Panorama City, Calif., from a private seller to a private buyer.

Retail

Big Deal

R. Bryan Deane, CCIM, of Legendary Realty in Destin, Fla., negotiated the 10-year, more than $10 million lease of a 25,000-sf restaurant at HarborWalk Village in Destin from HarborWalk LLC to Margaritaville of Destin LLC.

Phillip Dunning, CCIM, of Colliers International in Las Vegas and a partner represented Geddes Diversified LLC in the more than $8.5 million sale of the 105,132-sf Stephanie Promenade Retail shopping center in Henderson, Nev., to Roxbury Advisors LLC.

Michael Mallon, CCIM, of DK Mallon in Elmhurst, Ill., represented Lake Meadows Associates in the 10-year, $8.3 million lease of 40,000 sf of space at Lake Meadows Shopping Center in Chicago to LA Fitness.

Sandy G. Shindleman, CCIM,of ShindicoRealty in Winnipeg, Manitoba,negotiated the 15-year, $7.7million lease of a 44,000-sfretail property in Winnipegfrom an undisclosed lessor toToys R Us. Shindleman alsonegotiated the 10-year, more than $5.5million lease of a 27,817-sfretail property in Winnipegfrom an undisclosed lessor toMarshalls.

Laurie Ann Drinkwater, CCIM, of Marcus & Millichap in New Haven, Conn., and a partner represented a developer in the more than $6.9 million sale of a 12,000-sf Walgreens Pharmacy in Oneonta, N.Y., to an undisclosed buyer.

Derek Doke, CCIM, of Barclay’s Realty & Management Co. in Kirkland, Wash., represented a private investment partnership in the $6.5 million sale of a 16,310-sf dual-tenant retail property in Woodbury, Minn., to Loja Real Estate LLC.

Office

Big Deal

Thomas F. Campenni, CCIM, of Thomas F. Campenni Co. in Stuart, Fla., represented the owner of 41 East 11th Street in the 10-year, $10 million lease of 20,000 sf of office space in New York City to LaForce & Co.

Harlan E. Reichle, CCIM, of The Reichle Klein Group in Toledo, Ohio, and a partner represented CSA9-Arrowhead LLC in the $8 million sale of a three-building office portfolio totaling 129,786 sf in Maumee, Ohio, to a Toronto-based investment group.

Stephen V. Jacquemin, CCIM, of S.J. Financial Group in Ellisville, Mo., represented Creve Couer LLC in the $4.8 million purchase of a 19,128-sf medical-office property. Richard T. Murphy, CCIM, of Calkain Cos., represented the undisclosed seller.

Land

Big Deal

George T. McCutchen III, CCIM, of Newmark Grubb Wilson Kibler in Columbia, S.C., represented an undisclosed seller in the $4.7 million sale of the 3,700-acre Augusta Plantation in Aiken County, S.C., to a commercial supplier for Frito-Lay.

Donald N. Beck, CCIM, of 36 Clear in Charlotte, N.C., represented BPR Properties LLC in the $4 million purchase of more than 1.1 acres of land for construction of an Embassy Suites Hotel in Charlotte, from trustees of the African Methodist Episcopal Zion Church and A.M.E. Zion Publishing House.

Financing

Frank Sciara, CCIM, of Grandbridge Real Estate Capital in Mission Hills, Kan., arranged the $17.7 million financing of a 254-unit multifamily property in Springfield, Mo., for Weaver Creek Apartments LLC.

Mixed-Use

Ian M. Grusd, CCIM, of GreenGate Capital in Tinton Falls, N.J., negotiated the more than $5.6 million sale of a 38,500-sf office and retail property in Cranford, N.J., from Cleveland Plaza Associates to an undisclosed buyer.

Hospitality

John McClellan, CCIM, of Sperry Van Ness/Miller Commercial Real Estate in Salisbury, Md., and a partner represented Charles M. Foreman in the more than $3.8 million sale of two hotels totaling 69 rooms in Dewey Beach, Del., and Rehoboth Beach, Del., to Forgotten Mile LLC.

CCIM ROI

“CCIM’s National Virtual Deal Making session gave me the opportunity to expose our listing to a much wider audience of brokers in real time,” says Richard X. Gonzalez, CCIM, of Crosby & Associates in Tavares, Fla. Gonzalez and Danny Smith, CCIM, of Smith & Smith Realty in Wildwood, Fla., presented a 62,000-sf Vactron manufacturing plant in Okahumpka, Fla., in a Deal Making session last November. “Within a couple of days we had answered half a dozen calls and had two serious inquiries from CCIMs,” says Gonzalez. “The session allowed me to put my client’s triple-net leased property in front of many key players from all over the U.S.” Ultimately, Larry R. Richards, CCIM, of Key Solutions Real Estate Group in Sarasota, Fla., brought a private investor to the table, and all three CCIMs negotiated the $1 million sale-leaseback transaction.

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