CCIM Feature

Deal Makers

The Biggest Deal

Joshua Randolph, CCIM, of Colliers International in Birmingham, Ala., represented Pointe Properties LLC in the more than $39.3 million sale of the 74,750-sf Orthopedic Hospital in Hattiesburg, Miss., to an institutional investor. Randolph also represented Southern Development Resources in the more than $27.1 million sale of a 63,944-sf medical building in Hattiesburg to a separate institutional investor. 

Office

Big Deal

David J. Stevens, CCIM, and Clint L. Sherwood, CCIM, of Investment Properties Corp. in Naples, Fla., negotiated the $14 million sale of the Iberia Bank building and adjacent land in Naples from Iberia Bank to SHA Realty Holdings LLC.

Cathy Jones, CCIM, of Sun Commercial Real Estate in Las Vegas, and four partners represented Durango West Properties LLC in the $12.7 million sale of a 58,295-sf office building in Las Vegas to Howe Family LP.

William V. Gonnering, CCIM, of Investment Properties Corp. in Naples, Fla., and a partner negotiated the more than $10.1 million sale of 60,633 sf of office space in Fort Myers, Fla., from MLQ-ELD LLC to Forum Park II LLC.

Tony Puente, CCIM, of Fairchild Partners in Coral Gables, Fla., and Otto Travieso, CCIM, of Real Capital Partners in Miami negotiated the $9.6 million sale of a 40,000-rsf office property in Miami from the property's office condo owners to Grove Property Holdings LLC.

Gary Lyons, CCIM, of Avison Young in Raleigh, N.C., and a partner represented Twin Forks Properties LLC in the $8.2 million sale of a 72,000-sf, five-building office complex in Raleigh to an undisclosed buyer. Lyons also represented Philip Martin in the more than $4.2 million sale of a 40,000-sf medical office property in Raleigh to an undisclosed buyer.

Robin Santiago, CCIM, of Sperry Van Ness/The Kase Group in San Jose, Calif., represented Universal Real Estate Network LLC in the $7.9 million sale of 46,159 sf of office space in Milipitas, Calif., to Mays REI LLC.

Kenneth L. Kurtz, CCIM, of NAI Rauch Weaver Norfleet Kurtz & Co. in Fort Lauderdale, Fla., and three partners represented DMARC 2006-CD2 Broward Facilities LLC in the $7.3 million sale of the 97,983-sf Trafalgar Plaza in Fort Lauderdale. Keith Kidwell, CCIM, of Sperry Van Ness in Fort Lauderdale represented the buyer, RMS Properties III LLC.

Elliott M. Ross, CCIM, and Jason Aprile, CCIM, of RMC Ross Realty in Tampa, Fla., represented an undisclosed seller in the more than $6.6 million sale of the 54,950-sf Countryside Place office building in Clearwater, Fla., to 2605 Enterprise LLC.

R. Craig Coppola, CCIM, and Andrew Cheney, CCIM, of Lee & Associates in Phoenix represented Regent Properties in the more than $5.7 million lease of 35,034 sf of office space at the Desert Ridge Corporate Center II in Phoenix to Republic Services National Accounts.

Retail

Big Deal

Alexander Divaris, CCIM, of Divaris Real Estate in Virginia Beach, Va., and a partner represented Armada Hoffler Properties in the more than $8.6 million purchase of the 57,273-sf Socastee Commons in Myrtle Beach, S.C., from an undisclosed seller.

Cathy Jones, CCIM, of Sun Commercial Real Estate in Las Vegas, and four partners represented Howe Family LP in the more than $7.1 million purchase of a 15,120-sf Walgreens in Bellingham, Wash., from an undisclosed seller.

Joshua Brown, CCIM, of Haag Brown Commercial in Jonesboro, Ark., represented G&P Development LLC in the $5.5 million purchase of a 60,000-sf retail center in Jonesboro from Robert Wood Inc.

Thomas F. Campenni, CCIM, of Thomas F. Campenni and Co. in Stuart, Fla., and a partner represented the owner in the 12-year, $5.5 million lease of 3,000 sf of retail space in New York City to Swerve NYC.

Industrial

Big Deal

Douglas Jacoby, CCIM, of Colliers International in Boston represented Colony Realty Partners in the $27.4 million sale of a 402,541-sf industrial warehouse in Auburn, Mass., to Albany Road Real Estate Partners.

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

Jeff Heaton, CCIM, of Newmark Grubb ACRES in Salt Lake City, and a partner negotiated the $10.4 million sale-leaseback of a 146,823-sf industrial property in Salt Lake City between Black Equities and Food for Health International.

Elliott M. Ross, CCIM, and Jason Aprile, CCIM, of RMC Ross Realty in Tampa, Fla., represented Hillsborough 2324 LLC in the more than $3.5 million sale of the 98,000-sf Hillsborough/Armenia Warehouse in Tampa, Fla., to DST Ventures LLC.

Joshua Brown, CCIM, of Haag Brown Commercial in Jonesboro, Ark., represented Hays clothing store in the more than $3.5 million purchase of a 55,000-sf Coca-Cola bottling plant in Jonesboro from Twin Corners LLC.

Dale Mueller, CCIM, of Mueller & Associates LLC in Newport News, Va., represented Ductmate Industries in the approximately $3.5 million purchase of the 106,805-sf industrial building in Portsmouth, Va., from an undisclosed seller.

Jarrad Katz, CCIM, of MDL Group in Las Vegas and a partner represented Civic Center Properties LLC in the $3.4 million sale of a 39,348-sf industrial property in North Las Vegas, Nev., to Water Shark Systems LLC.

Multifamily

Big Deal

Becky Blair, CCIM, of Coldwell Banker Commercial Blair Westmac in Long Beach, Calif., represented an undisclosed seller in the $8.2 million sale of the 51,000-sf Bellagio Manor assisted living facility in Long Beach to an undisclosed buyer.

Fabio Faerman, CCIM, of Fortune International Realty in Miami negotiated the $6.7 million bulk sale of 21 units at the Mint at Riverfront condominium building in Miami from an undisclosed seller to an undisclosed buyer.

Harlan Reichle, CCIM, of the Reichle Klein Group in Toledo, Ohio, and a partner represented a California investor in the more than $4.1 million sale of the 190-unit Green Meadow Apartments in Bowling Green, Ohio, to Park Avenue Realty.

Matthew King, CCIM, of Green Bridge Real Estate in Cleveland represented Marengo Heights LLC in the more than $3.7 million sale of the 174-unit Forest Hills Park Apartment Complex in East Cleveland, Ohio, to LEDAHF-East Cleveland LLC.

Mixed-Use

Big Deal

Alexander Divaris, CCIM, and Jason Oliver, CCIM, of Divaris Real Estate in Virginia Beach, Va., represented Armada Hoffler Properties in the more than $26.2 million purchase of the 103,118-sf Providence Plaza in Charlotte, N.C., from an undisclosed seller.

Barbara Lloyd, CCIM, of NAI Horizon in Phoenix and two partners represented Rancho/Hayden LLC in the more than $8.8 million sale of the 61,319-sf Mercado Del Lago office and retail property in Scottsdale, Ariz., to Scottlin LLC.

James Kinsey, CCIM, of Kinsey Capital in New York City negotiated the more than $6.3 million sale of a 6,399-sf mixed-use property in New York City from 244 10th Realty LLC to an affiliate of Icon Realty Management.

Barry L. Klein, CCIM, of BHG Highland Partners/Mason-McDuffie Commercial in Oakland, Calif., negotiated the approximately $4 million sale of multiple restaurant and residential properties in Oakland and Hayward, Calif., from The Kelley Trust and Estate to EMBL LLC.

Land

Big Deal

Hassan Jadali, CCIM, of Cushman & Wakefield in St. Louis represented Commercial Development Company, in the $7.2 million sale of 27.3 acres of land in St. Louis. Steve Collins, CCIM, of Acquisition Realty LLC in St. Louis represented the buyer, Rangeline Cos.

Tim Kerrigan, CCIM, of Investors Realty in Omaha, Neb., represented the Gottsch Family in the $7.1 million sale of 145 acres of land in Omaha to an undisclosed buyer.

Christopher Bowers, CCIM, of Eshenbaugh Land Co. in Tampa, Fla., represented the seller in the $4 million sale of 12 acres of vacant land in Lutz, Fla., to an undisclosed buyer.

Specialty

Big Deal

Jecoah Byrnes, CCIM, of National Healthcare Realty in Denver, negotiated the $13.5 million sale of a 49,184-sf inpatient hospital and post-acute healthcare facility in Aliso Viejo, Calif., from Arcadian Senior Living to American Addiction Centers.

Daniel Scanlon, CCIM, of Colliers International in Manchester, N.H., and his partners represented InvenTrust Properties Corp. in the more than $8.1 million sale of the 140,000-sf Citizen's Bank Tower in Manchester to 875 Elm Street LLC.

Kenneth Carriero, CCIM, of Colliers International in Clearwater, Fla., and a partner negotiated the $5.4 million sale of the 18,182-sf Asbury Place retirement and assisted living facility in Pensacola, Fla., from Cooper-Solice to CTR Partnership LP.

Brian Elrod, CCIM, of The Elrod Group at Coldwell Banker Commercial Upchurch Realty in Athens, Ga., and a partner represented an undisclosed seller in the $2.9 million sale of the 21,000-sf Franklin House in Athens to an undisclosed buyer.

Financing

Big Deal

Stephen Jacquemin, CCIM, of S.J. Financial Group in Ellisville, Mo., arranged the $36 million CMBS loan refinancing of two Colorado retail centers totaling 250,000 sf of space in Avon, Colo., for an undisclosed borrower.

Kenneth M. Fox, CCIM, of Cohen Financial in San Francisco arranged the $7.2 million refinancing of a 40,622-sf office building in San Francisco for a Bay Area investor.

Brad Cox, CCIM, of Thomas D. Wood and Co. in Sarasota, Fla., arranged the more than $4.7 million financing of the 128-unit Windmill Apartments in Mauldin, S.C., for an undisclosed borrower.

CCIM ROI

Three CCIMs from Poe & Cronk Real Estate Group in Roanoke, Va., applied skills they learned in CCIM courses to close a complicated transaction. “This transaction centered on negotiations and effective communication.  The CCIM skills we learned in these areas helped to smoothly and efficiently bring this deal to closing,” says Bryan Musselwhite, CCIM, who represented Carillion Clinic Properties LLC in the $4.6 million purchase of the 88,000-sf Shenandoah Life Corporate Headquarters in Roanoke. Dennis Cronk, CCIM, and Matt Huff, CCIM, represented the seller, Shenandoah Life Insurance Co. “We had to work with timing concerns for the buyer and the seller, as well as a lease-back provision to provide the seller flexibility to relocate to a new office headquarters after closing,” Musselwhite says. “The level of expertise and creativity brought to this transaction by all three CCIMs involved helped both the seller and buyer skillfully navigate complicated issues throughout the transaction.”

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