CCIM ROI
KEVIN HODGE , CCIM , AND DAVID BODE , CCIM
The COVID-19 pandemic created more than its share of turbulence in the marketplace , but the immediate impact of the shutdowns in March and April 2020 could be felt in deals across sectors and locations . In Hanover , Pa ., an hour north of the Baltimore metro area , a deal for 104 acres of land fell apart when the purchasing developer walked away from a $ 100,000 deposit and completed full entitlements .
According to Kevin Hodge , CCIM , with Rock Commercial Real Estate in York , Pa ., who represented the seller , the buyer was only waiting for the tenant to vacate an old farmhouse when COVID-19 hit the U . S . After discussions of potential extensions to the deal , the seller eventually moved on from the transaction .
Fortunately for Hodge ’ s client , David Bode , CCIM , SIOR , also with Rock Commercial , was able to locate a new buyer , thanks in part to the legwork from the aborted transaction .
“ Our depth of knowledge of players in the market allowed us to identify a buyer who was active in the market ,” Bode says . “ We could highlight the advantages of this site , and , even if [ the buyer ] didn ’ t want to continue the plans of what was approved , there was significant due diligence and base-level engineering that will be useful when they ultimately decide to develop the tract .”
The buyer , who paid $ 3.44 million for the vacant space , is a manufacturer that does not have immediate plans to develop the property , instead opting to secure the land for future needs in a tight market . With Bode and Hodge in the same firm , the two saw their close working relationship as a bonus that was a catalyst to this deal .
“ Working together as a team , with an active flow of information about who is in the market , what properties are available or coming available , and status of current deals , allows us to provide our clients with the best service and bring deals to a close even when the inevitable bump in road occurs ,” Bode says .
“ Some bumps are bigger , like in this case , but in the end , we were even able to get the seller more net proceeds ,” Hodge says .
Both agents being CCIMs was another advantage — one that is an important point of emphasis for Rock Commercial .
“ Working with an agent who has shown through their CCIM designation that they are proven allows me to know I ’ m working with someone who is not only capable , but also approaches a transaction in a similar analytical nature ,” Hodge says . “ That is also why , in our office of 11 agents , eight are designees and another is a current candidate .”
Commercial Investment Real Estate Statement of Ownership Publication Number 1524-3249 • Filing Date : 9 / 28 / 2021 • Editor : Nicholas Leider Published quarterly by the CCIM Institute , an affiliate of the National Association of Realtors 430 N . Michigan Ave ., Suite 700 , Chicago , IL 60611-4084 • Annual Subscription Price : $ 45 for nonmembers ; $ 55 Canada / Mexico
Extent and Nature of Circulation |
Average No . of Copies Each Issue During Preceding 12 Months Date |
No . of Copies of Single Issue Nearest to Filing ( Summer 2021 ) |
Total Number of Copies ( Net press run ) |
10,803 |
9,467 |
Paid Circulation ( By Mail and Outside the Mail ) Mailed Outside-County Paid Subscriptions State on PS Form 3541 9,957 8,157 Mailed In-County Paid Subscriptions Stated on PS Form 3541 0 0
Paid Distribution Outside the Mails Including Sales Through Dealers and Carriers , Street Vendors , Counter Sales , and Other Paid Distribution Outside USPS
119 192
Paid Distribution by Other Classes of Mail Through the USPS 0 0 Total Paid Distribution 10,176 8,349 Free or Nominal Rate Distribution
Free or Nominal Rate Outside-County Copies included on PS Form 3541 453 718 Free or Nominal Rate In-County Copies Included on PS Form 3541 0 0 Free or Nominal Rate Copies Mail at Other Classes Through the USPS 0 0 Free or Nominal Rate Distribution Outside the Mail 50 0 Total Free or Nominal Rate Distribution 503 718 Total Distribution 10,578 9,067
Copies not Distributed 225 400
Total |
10,803 |
9,467 |
Percent Paid |
95.25 % |
92.08 % |
48 COMMERCIAL INVESTMENT REAL ESTATE MAGAZINE FALL 2021