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Negotiating Record-Breaking Large-Cap Trades

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Negotiating Record-Breaking Large-Cap Trades WHAT CRE LEADERS HAVE SAID ABOUT THE ALLIANCE ORGANIZATION… “Alliance’s TeamOne was retained for one half of our National and International work assignments for AT&T, Lucent and Avaya. Alliance performed at a superior level throughout their contract periods, and we would welcome continuing future work allocations with Alliance. The AT&T and operating unit case studies speak for themselves.” – Celeste Prestinario, Senior Director, EVP Corporate Real Estate AT&T | Lucent | Avaya “Bret expanded TeamOne while at CBRE that initiated several specialty practice areas not previously identified by the firm; significantly advanced the scope and quality of the firm’s tra- ditional work product; and delivered the highest revenue and profits of all production units of the firm.” – Ray Wirta, CEO, Chairman of the Board CBRE “Alliance’s TeamOne is second to none when it comes to Large-Cap Industrial RE development and closing US trans- actions. They breathed life into a tertiary Chicago 61 acre 1.5 million sf industrial HQ Campus property plagued with three superfund sites resulting in a sale exceeding owner expectations.” – Paul Samek, EVP, CFO Allsteel Corporation | BTR “I found Bret to be a tireless and productive worker when we worked together. His new Alliance Operations book identi- fies the basic success factors essential in our business. The Alliance case studies contained are evidence of his drive for pure production.” – Vern Schultz, SIOR, Executive Vice President Colliers International “As an owner, developer and re-developer of commercial real estate projects of significant size and complexity, I greatly appreciate Bret’s talents and Alliance’s unique practices in the marketplace. Bret has strong relationships with all his clients, which include many Fortune 500 companies. This enables an efficient transaction process from initiation to close.” We con- tinue to see large scale asset acquisition opportunities from Alliance; our high trust level in the firm causes us to take their offerings seriously.” – Bill Krug, Managing Principal K5 Trust “The book’s accuracy is distinct and describes how Alliance lead our multi-asset Consolidation for the new BTS HQ while monitoring the National needs through their representatives in the US.” – Isaac Bazbaz, President, CEO CPP Logistics Corp The material contained in this book may not be reproduced without written permission of Alliance and Alliance Realty Group, LLC (“ARG”), parent company. It is intended for Commercial Private Operators (CPOs) and does not make any representations or guarantees, express or implied, as to its accuracy, completeness or results from following the information contained herein. The reader is responsible for performing their own due diligence and verification of information. This book is not an offering for the sale of securities. This book is dedicated to Don Koll, whose vision remains an inspiration and driving force behind the Alliance | ARG Platform Advisory and Asset Acquisition efforts. NEGOTIATING RECORD-BREAKING LARGE-CAP* TRADES *Capitalized THE SUCCESS OF ALLIANCE Dr. Larry Keefauver, Salem Publishing Senior Editor interviews “Mr. Shmooze” aka Bret Broaddus, Managing Principal of Alliance BRET A. BROADDUS MCP BOOKS MCP Books 2301 Lucien Way #415 Maitland, FL 32751 407.339.4217 www.millcitypress.net © 2018 by Bret A. Broaddus All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the author. Printed in the United States of America ISBN-13: 978-1-54562-696-2 After over 25 years of transaction management with Corporate, Institutional, Private and Public organizations, the Alliance brand Transaction Management (“ATM”) is expanding its field services offices to 156 marketplaces within the US covering primary, secondary and tertiary market arenas. The ARG, LLC Parent and Operating Units ARA, ARGP, ATM include Alliance TeamOne lead Bret Broaddus which has continued the organi- zation’s Advisory and Co-invest Acquisition Operations expan- sion with several million square feet of additional Advisory and Acquisition representation in multiple marketplaces. The ARG, LLC Parent include Alliance Realty Group Partners (“ARGP”) lines, Alliance Realty Advisors (“ARA”) for Family Office and Family Office Advisor practices along with Alliance Co field services. ARG successfully launched two private series Asset Holdings and two Private Equity efforts aside managing National Advisory platforms at CBRE, prior to Alliance Cos. Management views multiple Commercial Private Operators (CPOs) quali- fied for the national Alliance Co. platform offering advanced CRE Asset Trade and Co-Invest competencies a service cov- erage need in the marketplace. Table of Contents Preface . 5 - The Enemy Called Average Introduction . 13 - The Greatest Need of the Commercial Private Operator The Alliance Success Factors Alliance Success Factor #1 . 31 - Professional Relationships with Decision Makers Alliance Success Factor #2 . 39 - Proficient Work Alliance Success Factor #3 . 51 - Pure Production Record-Breaking Large-Cap Trades – Case Studies Largest single industrial asset trade in square feet in history: AG-Communications - AT&T | GTE Joint Venture . .54 Largest cleanroom campus: Lucent Technologies . 56 First Anthrax Cure R&D campus . .58 Largest known USDA Food Production Facility - Dial . .60 Largest Suburban office redevelopment - AT&T Network Solutions | 3Com . 62 Largest IND redevelopment Allsteel BTR . .64 Largest DIP asset(s) underwriting, redevelopment Ben Franklin in multiple asset locations . .66 Largest VA consolidation E Toys . .68 Largest consolidation EKCO World Kitchen KKR . .70 Largest technology folio - CPI . 72 What’s Next? . 75 - Why Not Join Alliance & Expand Your Practice Significantly? xiii “This book is written for primary, secondary and tertiary Brokerage professionals who refuse to be content with oper- ating at Average or even above average in their transaction processes. They strive to execute Large-Cap transaction clo- sures that often generate significant financial results. They envision successful executions that always exceed the market and their previous best market or submarket-specific trade.” In writing this concise book, Dr. Keefauver with Alliance is following the lead of CRE icon Ray Wirta: “Less words mean more.” Ray Wirta, CBRE, is responsible for developing and imple- menting the strategic goals and objectives of the company after the Koll M&A initiative. Prior to CBRE in 2009, he served as Chief Executive Officer for Koll where he directed the strategy to take the company private in 2001 and then to take it public again in 2004. Prior to CBRE, Mr. Wirta was with Koll for 14 years, including the last five as president. Preface The Enemy Called Average The average Commercial Real Estate Broker works hard to manage and close trades that are on occasion in excess of 10 million dollars. Commercial Private Operators (CPOs) pro- vide a substantial service need and with the exposure to National Account Services work-product which carry with it the Large-Cap trades the CPO will increase its volume and asset count within. Transaction Management of Alliance drives record-breaking Large-Cap trades, Alliance TeamOne has never seen “average” as acceptable. This book is written for the CRE team leaders who desire to develop professional relationships which empower them to win big trades in the commercial real estate arena. Alliance’s success has been demonstrated through years of experience negotiating successful Large-Cap trades for acquiring, divesting, structuring finance, build-to-suit and leasing of commercial real estate assets beyond the average levels of hundreds of thousands and/or millions of square feet. 5 6 NEGOTIATING RECORD-BREAKING LARGE-CAP TRADES The authors of this work will narrate the history, success factors and performance of work executed by TeamOne at Alliance. Developing professional relationships and negotiating record- breaking trades are essential to TeamOne. TeamOne has ele- vated the commercial real estate Transaction Management of trades into the millions of square feet including the largest single-asset, square-foot Large-Cap trade which exceeded three million square feet. “The thing is having a good team. I don’t believe in the chairman [or CEO, Managing Principal] having to do everything. I prefer people to think for themselves.” – Francisco Gonzalez Rodriguez CEO, BBV This book is written for primary, secondary and tertiary Broker professionals who refuse to be content with operating at average or even above average in their transaction processes. Such Brokers strive to execute volume and Large-Cap trans- actions alongside portfolio and institutional closures that often generate significant financial results. They envision suc- cessful executions as always exceeding their previous best- ever market or submarket-specific trade. The average Commercial Real Estate Broker will manage and close a continuous trade cycle of assets which may range in NEGOTIATING RECORD-BREAKING LARGE-CAP TRADES 7 excess of 10 million dollars and beyond. Commercial Private Operators (CPOs) provide a substantial service need and may occasionally have the benefit to enjoy the exposure to National Account Services work-product which carry with it the Large-Cap trades wherein the CPO often increases one’s volume and asset count therein. The Transaction Management
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