DEAL MAKERS: Summer 2024

The Biggest Deal

Adam Palmer, CCIM, and Michael Doyle, CCIM, represented the buyer, Exeter 9121 CenterLinks Commerce, in a 
$92.5 million transaction of CenterLinks Business Park, a 454,200-sf business park property located in Fort Myers, FL.

This sale is the largest industrial sale in Southwest Florida’s history, and includes Sarasota, Charlotte, Lee, and Collier counties. 

“The fact that the buyer for this property was an institutional buyer that generally would not invest in the small bay product type of the subject portfolio, nor in a secondary geography like where it was located, was very interesting to me,” states Palmer. He believes this could be a fortuitous case study of what the future holds if other institutional investors move into secondary and tertiary markets.

Although he started out as a software engineer, Palmer found his calling in commercial real estate, acting as a broker for more than 20 years. With his corporate background, his ability to work with a variety of people daily, as well as the emotional aspect involved, he naturally gravitated toward working in the industry.

Palmer credits his success to his CCIM Designation and the education he received from The CCIM Institute. This professional develpment has been instrumental in shaping his business strategy and enabling him to accurately calculate which opportunities makes more sense down to the dollar.

Office

Brian Hughs, CCIM, of Candler Real Estate Group, LLC in Gainesville, GA, represented the seller, Hunt Ventures, LLC, in a $10.6 million transaction of Gym of '36, a 34,000-sf office property in Gainesville, GA.

Russell T. Noll, CCIM, of Transwestern Real Estate Services in San Antonio, TX, represented the seller in a $70 million transaction of Vista Corporate Center, a 157,470-sf office property in San Antonio, TX.

Industrial

John V. Propp, CCIM, of John Propp Commercial Group in Greenwood Village, CO, represented the seller, H.A.L. Construction, Inc., in a $5.4 million transaction of a 20,168-sf industrial property in Denver, CO.
 
Russ Martin, CCIM, of Relyance Bank in Little Rock, AR, represented the buyer, Tempus Maximus, LLC, in a $20 million transaction of industrial property in Lafayette, IN.
 
Karen Mankowski, CCIM, of Newmark in Charlotte, NC, represented the tenant in an $8.4 million transaction of Hillside Industrial Park - Building 13, a 96,400-sf industrial property in Duncan, SC.

John Speropulos, CCIM, and Marc Murphy, CCIM, of Mitch Cox Realtor, Inc. in Johnson City, TN, represented the seller, FH&P TN Properties, GP, in a $4.9 million transaction of a 94,020-sf industrial property in Kingsport, TN. 

Chad Griffiths, CCIM, of NAI Commercial Real Estate in Edmonton, Alberta (Canada), represented the seller in a $8 million transaction of an undisclosed 33,852-sf industrial property in Edmonton, Alberta (Canada).

Matt McLennan, CCIM, of Kidder Mathews in Tacoma, WA, represented the seller in a $41 million transaction of The Cascade Building, an 184,000-sf industrial property in Bonney Lake, WA.

Retail

Greg Bedell, CCIM, of Progressive Real Estate Partners in Rancho Cucamonga, CA, represented the seller, a private Orange County-based investor, in a $6.1 million transaction for a 33,004-sf retail property including a multi-tenant building and two pad site buildings in Desert Hot Springs, CA.

T.C. Macker, CCIM, of WESTMAC Commercial Brokerage Company in Los Angeles, CA, represented the seller, LCOS, LLC, in a $4.3 million transaction of 3130-3136 Foothill Blvd, a 10,747-sf retail property in Montrose, CA.

Ryan Marn, CCIM, of First Western Properties in Kirkland, WA, represented the seller in a $35.3 million transaction of Lincoln City Outlets, a 255,608-sf retail property in Lincoln City, OR.
 

Specialty

Rebecca K. White, CCIM, of eXp Realty in Nashville, TN, represented the seller, Lesa H. Skoney, Administrator Estate of John W. Dalton III, in a $14 million transaction of Pasture/Farmland, 67.5 acres of land property in Franklin, TN.

Dylan Kelley, CCIM, of Kelley Urban Land in Edmonton, Alberta (Canada) represented both the buyer and the seller, Anthem United, in a (CAN) $12.5 million transaction of 56.44 acres of land property in Edmonton, Alberta (Canada).

Michael J. Frye, CCIM, of RE/MAX Realty Group in Fort Myers, FL, represented the seller in a $3.8 million transaction of an undisclosed 34,843-sf industrial property in Cape Coral, FL.

Multifamily

Devin Lee, CCIM, of Northcap Commercial in Las Vegas, NV, represented the seller in a $7 million transaction for 3649 Cecile Ave Apartments, a 200-unit multifamily property in Las Vegas, NV.

Hospitality

Brian Resendez, CCIM, of SVN | Bluestone in Beaverton, OR, represented the seller, Sam Allen Motel Properties, LLC & Monarch Motor Hotel, Inc., in a $18.6 million transaction of  Monarch Hotel & Conference Center, a 192-sf hospitality property in Clackamas, OR.