CCIM Feature

CCIM Connections(10)

From the CCIM education and resources such as CCIM MailBridge and STDB, designees bring a wealth of solutions and expertise to every transaction. “Each deal has its particular triumph,” says Kevin P. Clay, CCIM, when asked to name his best transaction of 2010. “It’s all about servicing the client and helping them solve a problem.”

Presidential Suites

I brokered the sale of a high-quality inn with 12-acre grounds located in Kennebunkport, Maine, just a half-mile from the Bush family compound, for $3.55 million. The buyer was a local multiproperty hotel operator whom we sought out, citing that this property would make an excellent strategic acquisition and would be complementary to other nearby properties in his portfolio.

— Daren W. Hebold, CCIM

Get Real

The best deal for me was a 10-year lease of more than 90,000 sf of office space in which I represented the landlord. The biggest asset I brought to the transaction was a realistic determination of what the true market rate should be.The Des Moines, Iowa, metropolitan market has been slammed not only by the nation’s economy but also by the fact that a number of large local office users have, over the past few years, constructed their own buildings — putting millions of square feet back onto the competitive market.

— Dean Weitenhagen,CCIM

Adapt to What’s Available

I assisted hermanHOME, a retail furniture company, with the $1.06 million purchase of an office property in St. Petersburg, Fla. They were originally looking to lease, but in a smaller market you need to adapt to the products available in the much-defined market area. We found a great office building that had been a print shop with lots of open space, and they ended up buying it with seller financing. The excitement of the client translated into a super design studio as well.

— Paula C. Smith, CCIM

Cool Customers

My best deal last year was a 120,000-sf office lease in which I represented NASA and TRAX International.Working directly with the user group was a great experience.They were decisive, savvy, and responsive at all times and showed great respect for my experience and recommendations.We negotiated tremendous terms with an equally responsive and flexible landlord in record time and everyone was very happy with the results.

— Debra Stracke Anderson, CCIM, SIOR

At the Carwash

I purchased a commercial site at a big discount and built a car wash. My site selection skills gave me complete confidence to do so.

— Craig Melby, CCIM, SIOR

Had It His Way

I negotiated the sale of a portfolio of four Burger King net-leased properties to four separate buyers at surprisingly low cap rates. One buyer was local; one was from my state; one was from the West Coast; and one was international. Buyers with different goals and from different regions sometimes clash with sellers.It is important for brokers to manage everyone’s expectations, keep negotiations orderly, and keep deals positive and moving forward.

— Casey Weiss, CCIM

Worth the Wait

Maggie Nigro, CCIM, and I represented XE Hospitality in the purchase of three acres of land in San Antonio, Texas. This deal took over two years from the initial letter of intent to the closing date due to market conditions affecting the seller. It required extreme patience from the buyer and constant due diligence on alternative market opportunities from us.

— Jerry A. Williams Jr., CCIM