CCIM Feature

Deal Makers

The Biggest Deal

Patrick R. Luther, CCIM, of Faris Lee Investments in Irvine, Calif., negotiated the $36 million sale of a 186,052-sf LA Fitness four-site portfolio in Kentucky and Tennessee from a private seller to a real estate investment trust.

Industrial

Big Deal

Michael Giuliano, CCIM, and Keith Anderson, CCIM, of Lee & Associates in Ontario, Calif., negotiated the $21 million sale exchange of a 106,394-sf industrial complex in Ontario for a 72,650-sf facility in North Fontana, Calif., and an investment property in Arkansas for American Bolt and Screw.

Jeremy D. Pope, CCIM, of Graham & Co., in Huntsville, Ala., represented the Chrysler Group in the $10.5 million sale of a 843,000-sf Chrysler manufacturing facility in Huntsville to Remington Outdoor Co.

Russell T. Noll, CCIM, of Transwestern in San Antonio and a partner negotiated the 11-year, $9 million lease of a 179,953-sf manufacturing facility in Monterrey, Mexico, to an international manufacturing firm.

Michael H. Tsaparian, CCIM, of Lee & Associates in Commerce, Calif., and a partner represented TEAC America in the $7.5 million sale of a 79,055-sf industrial property in Montebello, Calif., to Brimel LLC.

Duke A. Suwyn, CCIM, John J. Kuiper, CCIM, and Steve Marcusse, CCIM, of Colliers International in Grand Rapids, Mich., negotiated the more than 10-year, more than $5.2 million lease of a 110,000-sf industrial property in Grand Rapids from Franklin Eastern LLC to Undercar Products Group.

John Sharpe, CCIM, of Lee & Associates in Rosemont, Ill., and two partners represented Venture One in the 10-year, $5 million lease of a 110,063-sf industrial property in Bloomingdale, Ill., to Compass Group.

Daniel E. Sight, CCIM, of Reece Commercial in Leawood, Kan., represented Proudfit Investments LLC in the $4.6 million purchase of a 106,000-sf distribution center in Lenexa, Kan., from an undisclosed seller.

Cathy A. Jones, CCIM, of Sun Commercial Real Estate in Las Vegas and three partners represented CPI Two LLC in the $4.5 million sale of a 46,691-sf industrial building in Las Vegas to Roberts Ranch Venture LP.

Joe D. Pelayo, CCIM, of Total Real Estate Consultants in Coral Springs, Fla., represented JBJE Commercial Properties LLC in the more than $2.8 million purchase of the 35,563-sf Tamarac Arch industrial property in Tamarac, Fla., from Silverstein Enterprises.

Retail

Big Deal

Sheriar K. Khorsandian, CCIM, of Osceola Partners LLC in Tampa, Fla., represented Morgran Ocala Center LLC in the more than $23.7 million leased fee interest land sale of a 263,750-sf power center in Ocala, Fla., to an undisclosed buyer.

Scott D. Adams, CCIM, of Adams & Wilson Development in Charleston, S.C., represented Faison in the $19.2 million purchase of the 350,000-sf Ashley Landing retail center in Charleston from an undisclosed seller.

D’Arcy Browning, CCIM, of Re/Max Real Estate (Central) in Calgary, Alberta, represented a private buyer in the $13 million purchase of the 25,000-sf Westmount Village strip mall in Okotoks, Alberta, from a real estate investment trust.

Laurie Ann Drinkwater, CCIM, of Marcus & Millichap in New Haven, Conn., and a partner negotiated the more than $9.4 million sale of the 55,901-sf Union Square retail property in Southbury, Conn., from an LLC to a private investor.

Ryan Imbrie, CCIM, of Sperry Van Ness/Imbrie Realty LLC in Portland, Ore., represented LS Capital in the $8.2 million sale of a 30,380-sf retail center in Hillsboro, Ore. Joseph C. Sandahl, CCIM, of Wyse Investment Services Co. represented the buyer, Acorn NW Real Estate Fund I.

Cathy A. Jones, CCIM, of Sun Commercial Real Estate in Las Vegas and five partners represented TME Red Rock Plaza LLC in the more than $6.3 million sale of a 42,246-sf retail building in Las Vegas to Falkor Properties LLC.

Sandy G. Shindleman, CCIM, of Shindico Realty in Winnipeg, Manitoba, represented an undisclosed seller in the more than $5.3 million sale of a 15,500-sf retail property in Winnipeg to Autotown.

Thomas F. Campenni, CCIM, of Thomas F. Campenni Co. in Stuart, Fla., represented the undisclosed owner in the 10-year, more than $3 million lease of a 2,500-sf restaurant in New York City to American Ootoyo.

Ed Colson Jr.,CCIM, of Cassidy Turley San Diego in San Diego and a partner represented Bayou Grove LP in the $2.4 million purchase of 4,000 sf of retail space in Missouri City, Texas, from Dawn Broken Arrow.

Gary W. Lyons, CCIM, of Avison Young in Raleigh, N.C., and a partner represented I&V Properties LLC in the more than $2.2 million sale/leaseback of the 16,500-sf Gold’s Gym property in Porter’s Neck, N.C., to Blue Gem.

Stephen V. Jacquemin, CCIM, of S.J. Financial Group in Ellisville, Mo., represented St. Joseph LLC in the more than $2.1 million sale of the 39,000-sf Associated Grocers in St. Joe, Mo., to an undisclosed buyer.

William Lightfoot, CCIM, of CB Richard Ellis/Oklahoma in Oklahoma City represented Mustang Jack LLC in the more than $2 million sale of a 2,370-sf Jack in the Box in Mustang, Okla., to an undisclosed buyer.

Office

Big Deal

Shawn Carstens, CCIM, of Griffin Capital in El Segundo, Calif., and a partner represented Griffin Capital Essential Asset REIT in the $19.1 million purchase of the 102,035-sf Farmers Insurance Exchange National Claims Facility in Olathe, Kan., from an undisclosed seller.

Chris Paszyc, CCIM, of CBRE The Boulos Co. in Portland, Maine, and a partner represented Lot 18 LLC in the $14.7 million sale of the 51,000-sf MaineGeneral Musculoskeletal Center in Augusta, Maine. Eric Tompkins, CCIM, of CBRE/Healthcare Services in San Diego and Andrew Kushner, CCIM, of Re/Max Commercial in East Greenwich, R.I., represented the buyer, MMAC Acquisition Corp.

Thomas Y. Johnson, CCIM, of Sperry Van Ness in Reno, Nev., negotiated the $11 million sale of the 102,000-sf Technology Way Office Park in Carson City, Nev., from an undisclosed seller to Holly Lakepoint LLC.

Andy Seleznov, CCIM, Melissa Lal, CCIM, and George C. Larsen, CCIM, of Larsen Baker LLC in Tucson, Ariz., represented an affiliate of Larsen Baker LLC in the $9.1 million sale of the 82,942-sf Muscular Dystrophy Association offices in Tucson from MDA.

Michael D. Staskiewicz, CCIM, of Lee & Associates – New Jersey LLC in Elmwood Park, N.J., represented ASC Mountainside Realty in the more than $8.4 million sale of a 41,531-sf medical office building in Mountainside, N.J., to The Punia Co.

Fred B. Miehe Jr., CCIM, of Sulentic-Fischels Commercial Group in Waterloo, Iowa, and a partner represented Veridian Credit Union in the more than $5.3 million purchase of a 66,500-sf office building at the Cedar Falls Technology and Industrial Park in Cedar Falls, Iowa, from an undisclosed seller.

Hubert King, CCIM, of Treeline Realty & Investment in Los Angeles and a partner negotiated the more than $3.5 million sale of a 5,278-sf office building in Beverly Hills, Calif., from Allsure Investment to a local law firm.

David W. Auel, CCIM, of Avison Young in Pittsburgh represented James T. Kelly LP in the more than $3.1 million purchase of a 32,000-sf office property in Pittsburgh from an undisclosed seller.

John M. Peckham, III, CCIM, of Peckham Boston Advisors in Boston negotiated the more than $2.8 million sale of a 75,992-sf office building in Worcester, Mass., from 51 Union Realty LLC to 1430 Commonwealth LLC.

Richard Cheng Lee, CCIM, of Commercial Facilities in San Diego represented Lyons-Warren Partners in the $2.7 million sale of a 24,500-sf office building in Kearny Mesa, Calif., to Harvey.

Brian T. Ahearn, CCIM, of Coldwell Banker Commercial NRT in Aventura, Calif., represented ID & Design USA LLC in the $2.1 million purchase of a 13,544-sf office building plus bank drive-through in Oakland Park, Fla., from Broward Realty Corp.

Land

Big Deal

William A. Eshenbaugh, CCIM, and Ryan Sampson, CCIM, of Eshenbaugh Land Co. in Tampa, Fla., represented an undisclosed seller in the $18.2 million sale of more than 1,000 acres of land in Plant City, Fla., to Walton International Group.

Donald Mulholland, CCIM, of Bosley Real Estate in Toronto, Ontario, negotiated a $9.3 million, 15,286-sf land assembly sale in Toronto from private sellers to The Harlow.

T. Sean Lance, CCIM, of NAI Tampa Bay in Seminole, Fla., negotiated the $5 million sale of a 3.4-acre apartment development site in Tampa, Fla., from an Atlanta-based development and investment company to a joint venture between Framework Group LLC and Northwood-Ravin.

Hubert King, CCIM, of Treeline Realty & Investment in Los Angeles and a partner negotiated the more than $3.3 million sale of 1.6 acres of land from ABIA LLC to a local investor.

David Fritz, CCIM, of NAI KLNB LLC in Ellicott City, Md., and a partner represented Cinder & Concrete Block Corp., in the $2 million sale of 8 acres of land in Jessup, Md., to TRI M Properties LLC.

Financing

Big Deal

Lawrence Harwood, CCIM, of Q10/Lutz Financial Services in Birmingham, Mich., arranged the more than $33.7 million financing of an 814-unit multifamily portfolio in southeast Michigan for an undisclosed borrower.

Joshua Davis, CCIM, of Grandbridge Real Estate Capital in Charlotte, N.C., and a partner arranged the $33.3 million financing for a 325-unit multifamily property in Mount Pleasant, S.C., for the Boulevard Apartments.

Multifamily

Big Deal

T. Sean Lance, CCIM, of NAI Tampa Bay in Seminole, Fla., and a partner negotiated the $11 million sale of the 368-unit Mariners Pointe Apartments in St. Petersburg, Fla., from a Texas-based fund to a Georgia-based investment group.

Reid A. Bennett, CCIM, of Sperry Van Ness in Chicago negotiated the more than $2.8 million sale of a 118-unit student housing/multifamily property in South Bend, Ind., from 424 Francis LLC to Eddy Street Townhomes.

Hospitality

Daren W. Hebold, CCIM, of Lux Realty Group in Portland, Maine, represented Geoffrey Blake in the $4.3 million sale of the 30-room Marginal Way House in Ogunquit, Maine, to an undisclosed buyer.

Specialty

Joanne M. Stevens, CCIM, of NAI Iowa Realty Commercial in Cedar Rapids, Iowa, negotiated the $3 million package sale of the 158-unit Bluffview Estates mobile home park in North Freedom, Wis., and a 24-unit multifamily property in Marinette, Wis., from John Scharlau to April Youngs.

Mixed-Use

Big Deal

Kevin D. Chin, CCIM, of Sperry Van Ness in San Francisco represented The Arseny and Olga Kovshar Private Charitable Foundation in the more than $8.4 million sale of a 27,257-sf retail/office property in San Francisco to Yue Yue LLC.

Carole C. Tam, CCIM, of Coldwell Banker Commercial in Arcadia, Calif., represented an undisclosed seller in the $3.8 million sale of a 51,563-sf mixed-use property in Temple City, Calif., to an undisclosed buyer.

CCIM ROI

“The CCIM workbook and calculators were essential for providing the buyer and the buyer’s lender a clear depiction of forecasted rents for this property,” says Mark H. Mizell, CCIM, of Sadler Group in Charleston, S.C. Mizell represented NCGS in the more than $3.7 million purchase of 17,200 sf of office space in historic downtown Charleston. “A redevelopment transaction of this size coupled with the historic nature of the building is always complicated,” adds Mizell. Luckily, having Reid Davis, CCIM, of Lee & Associates in Charleston on the other end of the table representing 26 & 28 Broad St., LLC, kept things running smooth. “Working with a fellow CCIM was very helpful,” says Mizell. “This paved the way for clear communication between both parties to ultimately close the deal.”

Recommended

What a Difference 6 Months Make

Summer 2021

As the U.S. looks for a robust economic recovery throughout 2021, the country and commercial real estate face challenges in worker shortage, inflation, and foreign nations’ vaccination efforts. 

Read More

Active Measures

Summer 2021

As commercial real estate slowly moves toward a future where the industry better reflects the community, what can facilitate change? 

Read More

Return Policies

Summer 2021

Institutional investment and private equity look to reenter the commercial real estate game after staying on the sidelines during COVID-19. 

Read More

Retail’s Road to Recovery

Summer 2021

Battered by COVID-19 — some more than others — retailers are looking to rebound with increased creativity, flexibility, and agility. 

Read More