Commercial Investment Real Estate September/October 2019 | Page 49

CCIM ROI Considering the complexity in a transaction involving 62,000 square feet of office space, Chad Hirn (left), CCIM, of The Cress Group in Ridgeland, Miss., who represented the undisclosed buyer in the $9.7 million transaction, was thankful to be working with another CCIM in John Hardin (right), CCIM, of Shannon Waltchack in Birmingham, Ala., who represented the undisclosed seller. Hirn and the buyer of the Class A building in Birmingham negotiated a buyout of one tenant and reworked a number of leases for current occupants. With so many variables, Hirn and Hardin were able to see the deal from preliminary negotiations in May 2018 through to contract in August and a closing before the end of this year. “It is great to know that you are working with another CCIM. These types of deals can be very complex — not just the economic deal points but property-specific deal points,” Hirn said. “I have been a part of deals that blew up because a broker/agent did not have the experience or know-how to handle complex issues that can come up; they panic [and can] get defensive, and it brings a negative dynamic to the deal. When you are working with a CCIM, you know that you have a person with the pedigree to properly assess and handle complex situations. This makes all the difference in getting complex deals to the finish line.” Hirn mentioned the buyer had some initial concerns about the building’s location and tenant rollover. But in tandem with Hardin, he was able to allay such reservations with additional due diligence and negotiations with tenants. “It helps to work in tandem [with another CCIM],” Hirn said. “The CCIM designation gives you that extra edge. You can use it to your advantage and gain respect as a leader in your field.” Index of Advertisers CCIM Designee-Only Courses ............................... 17 CCIM Foundation .................................................. 21 CCIM Global Conference ............................... Cover 2 CCIM Industry Partners ........................................... 4 CCIM Life with the Pin ............................................. 2 CCIM Upcoming Courses .............................. Cover 3 CCIM Women of Influence Award Winners............. 45 CIRE Gift Subscriptions ......................................... 47 Canadian Real Estate Forums ................................ 43 Conservation Easement Advisors, LLC .................. 11 JLL .......................................................................... 5 LaSalle Nova Capital Markets .................................. 9 SIOR ..................................................................... 37 SteepSteel ............................................................. 29 Send a CIRE Gift Subscription Stewart Title ........................................................... 3 Ten-X ............................................................. Cover 4 Williams & Williams Auctioneers ............................. 13 Looking for more information on a product or service? Visit our advertiser web links on CIRE magazine’s website at CCIM.com/cire. For advertising information, contact: Member rate is $25 U.S., $35 International. To order, call 800.621.7027, ext. 4533. CIREMAGAZINE.COM Dan Burke at (732) 241- 6720 or [email protected]. Burke Media Group 22 Robbin St., Monmouth Beach, NJ 07750 September | October 2019 47