2017 Commercial Real Estate Hall of Fame Midwest Advantage
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MINNESOTA | MISSOURI | NEBRASKA | OHIO | TENNESSEE | WISCONSIN WWW.REJOURNALS.COM DECEMBER/JANUARY2018 VOLUME31 ISSUE14 Directories begin on page 81: CRE MARKETPLACE 2018 ANNUAL RESOURCE GUIDE Architects/Design-Build, Asset/Property Management, RE Attorneys/Law Firms, Brokerage Firms,Construction Companies, Developers, EDCs, Finance Companies, Healthcare/MOB, Multifamily Finance, Project/Construction Management, REITs THE DAKOTAS | ILLINOIS | INDIANA | IOWA | KANSAS | KENTUCKY | MICHIGAN 2017 COMMERCIAL REAL ESTATE HALL OF FAME MIDWEST ADVANTAGE. MINNEAPOLIS GRAND RAPIDS MILWAUKEE DETROIT MADISON LANSING DES MOINES CHICAGO CLEVELAND OMAHA DAYTON COLUMBUS INDIANAPOLIS KANSAS CITY CINCINNATI ST. LOUIS LOUISVILLE From the Mississippi River to the Ohio Valley and the Great Lakes to the Great Plains, our industry-leading perspectives, scale and local connectivity deliver outcomes that drive business and bottom-line performance for every client we serve. How can we help transform your real estate into real advantage? For more information contact or visit: John A. Latessa, Jr., President, Midwest Division +1 248 351 2081 [email protected] Build on www.cbre.us/BuildOnAdvantage Advantage MIDWEST Specialization • Expertise • Results ADVANTAGE. Creating and Preserving Wealth for Our Clients One Transaction at a Time Below is a Sampling of Our Recent Closings MINNEAPOLIS Madison, WI 8 Cities, OH Gilberts, IL Multiple GRAND RAPIDS MILWAUKEE DETROIT MADISON LANSING Rivers Edge & Fordem Towers Stop N Stor Portfolio Sub Zero Distribution Center Walmart Shadow Anchored Portfolio $37,000,000 | 420 Units $31,400,000 $22,000,000 | 275,265 Sq. Ft. $12,700,000 | 107,300 Sq. Ft. DES MOINES CHICAGO Agent: Matthew Whiteside 3,050 Units | 391,458 Sq. Ft. Agents: Ken Szady, Krysti Galvin, Agents: Dan Yozwiak, Justin Fenn, CLEVELAND Agents: Brett Hatcher and Gabriel Coe and Matthew Schwartz and Philip Levy OMAHA DAYTON Moline, IL Libertyville, IL Edina, MN Evansville, IN COLUMBUS INDIANAPOLIS KANSAS CITY Heartland Clinic Cook Apartments at Libertyville 50th Street Plaza Town Center CINCINNATI $11,600,000 | 34,020 Sq. Ft. $11,250,000 | 86 Units $8,650,000 | 53,525 Sq. Ft. $8,530,000 | 142,629 Sq. Ft. Agents: Agents: Ryan Engle, Andrean Angelov, Agents: Sean Doyle, AJ Prins, Matt Agents: Joel Dumes and Stanton Falk ST. LOUIS Scott Niedergang and Gino Lollio Timothy Stephenson and Scott Harris Hazelton and Cory Villaume LOUISVILLE Fairlawn, OH Fargo, ND Cincinnati, OH McCordsville, IN Barnes & Noble Days Inn Fargo Park Tower CVS Pharmacy / Ground Lease $6,825,000 | 31,280 Sq. Ft. $3,125,000 | 75 Units $3,000,000 | 130 Units $2,941,176 | 12,707 Sq. Ft. Agents: Nick LiBassi, Scott Wiles, Agents: Jon Ruzicka and Helen Zaver Agents: Matthew Snyder and Peter Flis Agents: Jordan Klink, Kahlil Barnard Craig Fuller and Erin Patton and David Klink Lake St. Louis, MO New Castle, PA Hinsdale, IL Poynette, WI From the Mississippi River to the Ohio Valley and the Great Lakes to the Great Plains, our industry-leading perspectives, scale and local connectivity deliver outcomes Stag Industrial Blvd. Flex Center Castle Square Robert Crown Center Piggly Wiggly $2,600,000 | 33,796 Sq. Ft. $2,431,457 | 30,849 Sq. Ft. $2,350,000 | 2.33 Acres $2,000,000 | 17,873 Sq. Ft. Agents: Nathan D. Whalen, Jeremie Agents: Craig Fuller, Agent: Richard Kozarits Agent: Jeff Rowlett that drive business and bottom-line performance for every client we serve. Johnson, Damien Yoder, Scott Wiles and Erin Patton Adam O’Sullivan and Julia Evinger How can we help transform your real estate into real advantage? To access the investment market, contact the market leader. Chicago Downtown Chicago Oak Brook Cincinnati Cleveland Columbus Detroit Richard D. Matricaria Steven D. Weinstock Colby Haugness Michael L. Glass Michael L. Glass Steve Chaben For more information contact or visit: (312) 327-5400 (630) 570-2200 (513) 878-7700 (216) 264-2000 (614) 360-9800 (248) 415-2600 Indianapolis Iowa Kansas City Milwaukee Minneapolis St. Louis Louisville John A. Latessa, Jr., President, Midwest Division Josh Caruana Richard D. Matricaria Joe Powers Todd Lindblom Craig Patterson Joe Powers Colby Haugness (317) 218-5300 (319) 333-7743 (816) 410-1010 (262) 364-1900 (952) 852-9700 (314) 889-2500 (513) 878-7700 +1 248 351 2081 Offices Throughout the U.S. and Canada www.MarcusMillichap.com [email protected] Build on www.cbre.us/BuildOnAdvantage Advantage Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All Rights Reserved. 4 | Midwest Real Estate News | DECEMBER/JANUARY 2018 | www.rejournals.com FEATURES The Bottleworks development Surviving in retail today? Creativity Lowry & Morrison Building - Page 14 near downtown Indianapolis- Page 12 19 is key: How are brick-and-mortar retailers surviving today? The key word here is “creativity.” Those who are creative might survive. Those who aren’t, won’t. Midwest Real Estate News 20 Commercial Hall of Fame 2017 What makes for a Commercial Hall of Fame winner? How about hard work, market knowledge and a willingness to do DEPARTMENTS/COLUMNS everything possible to close the best deals for their clients? Midwest Real Estate News Editor’s Letter is proud to present the profiles of one of 6 The power of commercial financing: The fine art of rehabbing old our largest Hall of Fame classes yet, more 8 Commercial financing companies 14 buildings: Why tear down an old than 90 winners. can play a big role in revitalizing cities commercial building when you can rehab it Directory Listings across the Midwest. The work that Walker & instead? That’s the idea behind some of the Hall of Fame Alumni: This isn’t 81 Dunlop is doing in downtown Green Bay is a most exciting rehabilitation projects taking 78 Midwest Real Estate News’ first good example. place in the Midwest today. We look at big Commercial Real Estate Hall of Fame class. projects in Detroit, St. Louis, Indianapolis Who are the winners from past years? Indianapolis poised for a busy 2018: and other Midwest cities. Check out our list here. 10 The commercial real estate market is a busy one in the Indianapolis region. And leading the way? A surging industrial market. Supporting you with the strength of unsurpassed experience and expertise. JAMES PAPE • Full service business with in-house loan administration services, including construction draws P. 630.986.7068 • Regular consultation with senior management and key decision makers • Broad experience with your team of skilled CRE banking professionals E. [email protected] • Multiple direct points of contact to ensure responsiveness • A consistent approach to business success MICHAEL ROIDT Building lasting business relationships focused on the future is what we do and what we’re P. 414.351.8368 ready to get started for you. Let’s talk soon about your business plan and what we can do E. [email protected] to help ensure your success. Choose experience. © 2017 TCF National Bank. Member FDIC HEARTLAND AFFILIATES: WHERE ARE YOUR CHICAGO, IL MILWAUKEE, WI Podolsky Circle/ The Dickman Company/ CORFAC International CORFAC International REAL ESTATE DECISIONS 847.444.5700 414.271.6100 www.podolsky.com www.dickmanrealestate.com TAKING YOU? CHICAGO, IL MINNEAPOLIS, MN ProTen Realty Group/ Gaughan Companies/ CORFAC International CORFAC International 312.242.6010 612.238.4400 www.protenrealty.com www.gaughancompanies.com Chart your course with CORFAC CINCINNATI, OH NASHVILLE, TN Henkle Schueler & Associates/ Chas. Hawkins Co./ International, a commercial real estate CORFAC International CORFAC International 513.932.6010 615.256.3189 network managed by independent, like- www.hsabh.com www.chashawkins.com minded principals and agents worldwide. CLEVELAND, OH PITTSBURGH, PA Weber Wood Medinger/ Weber Wood Medinger/ yours. Contact a CORFAC firm in your CORFAC International CORFAC International 216.464.7100 412.515.1550 Navigating the commercial property www.wwmrealestate.com www.wwmrealestate.com DETROIT, MI ST. LOUIS, MO markets as an investor, developer or tenant L. Mason Capitani/ Sansone Group/ CORFAC International CORFAC International seeking office, industrial and retail assets 248.637.9700 314.727.6664 www.lmcap.com www.sansonegroup.com has never been easier. Experience the KANSAS CITY, MO WINNIPEG, MB Karbank Real Estate Shindico/ client-centric service that local experts Company/ CORFAC International CORFAC International 204.474.2000 deliver every day for businesses like 816.221.4488 www.shindico.com www.karbank.com yours. Contact a CORFAC firm in your MEMPHIS, TN Crump Commercial/ market today. CORFAC International 901.767.4444 www.crumpcommercial.com Locally Owned. www.corfac.com Globally Connected. 224.257.4400 6 | Midwest Real Estate News | DECEMBER/JANUARY 2018 | www.rejournals.com FROM THE EDITOR We asked our Hall of Fame winners to iden- charitable foundations. Read through the tify the secrets to their success. Of course, profiles in this issue and you’ll find that a calling the steps these CRE pros took to high percentage of our award winners sit on build their businesses “secrets” isn’t quite the boards of directors or hold leadership accurate. There is nothing revolutionary positions in community and civic organiza- about what these award winners have tions. Others volunteer their time at charity done to succeed in the competitive world of events. These commercial real estate pros The Midwest’s commercial real estate publication, providing useful, unbiased and commercial real estate: They worked hard. don’t just do business in their communities, accurate coverage of the industry and its They studied their markets. They have been they are a part of them, and they devote the professionals since 1985. passionate about providing top customer hours necessary to serving them. service to their clients. And they have been WWW.REJOURNALS.COM honest throughout their careers. This makes sense: A strong community is a Publisher | Mark Menzies Another year, another good one in which to do business, after all. [email protected] Again, there are no trade secrets here.