Commercial Investment Real Estate November/December 2017 | Page 49
Specialty
CCIM ROI
BIGDEAL
32
Dunston Powell, CCIM, of
Carolina Commercial LLC in Mount Pleasant,
S.C., represented Atlantic Marina Holdings
LLC in the $22.5 million purchase of Tierra
Verde Marina Resort in Tierra Verde, Fla.,
with 500 slips and 12,000-sf of marine retail
space from Tierra Verde Marina Resort LLC.
33 Andrew Cheney, CCIM, 34 R. Craig
Coppola, CCIM, and 35 Gregg Kafka,
CCIM, of Lee and Associates in Phoenix
represented an undisclosed buyer in the
$5 million purchase of a 22,264-sf school
located at 4800 E. Doubletree Ranch Road
in Paradise Valley, Ariz., from Sion Holdings–
Doubletree LLC.
Mixed-Use
36
BIGDEAL
Jim Garinger, CCIM,
and 37 Fred Kolb, CCIM, of Colliers
International | Southwest Florida in Fort
Myers, Fla., negotiated the $19.7 million
sale of 3.55 acres of commercial land,
condominiums, and marina frontage in
Naples, Fla., from Vanderbilt Real Estate
Holdings to Stock Development LLC.
Recently Micah McCullough, CCIM (left),
of NAI UCR Properties in Jackson, Miss.,
represented Truckworx in the $3 million
purchase of the 70,000-sf FedEx Ground facility located in Richland, Miss., from
an undisclosed seller represented by William Cook Jr., CCIM, of Cook Commer-
cial Properties in Jackson. McCullough admits that the transaction only may have
occurred because of their long-standing relationship as CCIMs.
Back when McCullough was beginning his career, he recalls being paired up with
Cook at a Mississippi CCIM Chapter golf outing. The weather took a turn for the worse,
and a torrential downpour was expected to wrap up the day’s events. However, Cook
wanted to keep playing, so he refused to go in.
The two kept playing until finally being forced inside. “That’s my first recollection
of meeting him,” McCullough says. “He’s a dedicated guy in whatever he’s going to
do; he’s committed to finishing what he started.”
Cook and McCullough continued to maintain a professional relationship and have
worked together on many deals. While working on one recent deal, the two struck up a
conversation during some downtime. The conversation turned toward the FedEx facil-
ity in Richland that Cook’s client was potentially putting on the market. McCullough
mentioned he had a client who would be interested in the property.
“Without that level of comfort in knowing each other as CCIMs, we may not have
had that conversation to begin with,” says McCullough. The two CCIMs, along with
their clients, worked together to close the deal and succeeded in having a final sale
that was positive for all parties involved.
What began as a possible unfortunate day on the golf course has evolved into an
alliance in the commercial real estate market.
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November | December 2017
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