TCN netWORKING:  TCN Worldwide Deals, Industry News and Highlights

Congratulations! Hanna Commercial Real Estate/TCN Worldwide in Cleveland has completed an assignment with PW Commercial/TCN Worldwide in Chicago to broker a 135,490 square foot lease renewal/expansion.

Anthony Delguyd at Hanna Commercial initiated the assignment and worked with Jerry Sullivan at PW Commercial to complete the transaction which consisted of a 64,590 square foot renewal with an extension of 70,900 additional square feet.
 

Congratulations! Signature Associates and ROI Commercial Property Brokerage, Inc. worked together to complete a 2,100+ SF lease renewal. John Hamburger of Signature Associates/TCN Worldwide in Detroit initiated the assignment and worked with Eric Odum at ROI Commercial Property Brokerage/TCN Worldwide in Tampa to complete this transaction.
 

Property Managers Have Found Opportunity and Growth Amid the COVID-19 Pandemic

National Real Estate Investor: This year has provided the chance to hone our communication skills and serve fully as the voice of leadership.

It’s Going to be a Make-or-Break Holiday Season for These Retailers

CNBC: More than $766 billion in sales is up for grabs this holiday season, amounting to as much as a 5.2% jump from 2019 levels, according to the National Retail Federation.

New Study Aims to Crack Cap Rate Code

Commercial Property Executive: The model is based on the unemployment rate and the flow of commercial mortgage debt, metrics that are a proxy for U.S. economic performance and capital flows into commercial real estate.

Unique Properties/TCN Worldwide in Denver Brokers the Sale of Historic Peters Paper Building in LoDo for $14,750,000

Member Deal Announcement: Unique Properties announced that Sam Leger and Tim Finholm sold 1625-1631 Wazee Street, known as the Peters Paper Building, on December 1, 2020. The 49,316 square foot office building is located three blocks from Union Station in the historic Lower Downtown neighborhood which has become one of Denver’s most desirable office submarkets. 1625-1631 Wazee sold for $14,750,000 and was 100% occupied at the time of the sale by local vacation club, Inspirato.

Pacific Coast Commercial/TCN Worldwide in San Diego Sold a Two-Building Multi-Tenant Industrial/Retail/Office Property Portfolio for $7,650,000

Member Deal Announcement: Tommas Golia, Ken Robak, and Vince Provenzano with Pacific Coast Commercial represented the buyer, Caster Family Trust. “This two-property commercial asset benefits from incredible freeway access and frontage and has some of the only small bay dock-high industrial suites in the Mission Gorge submarket,” stated Tommas Golia, Associate Vice President of Pacific Coast Commercial

Price Edwards/TCN Worldwide in Oklahoma Brokers $6,050,000 Sale

Member Deal Announcement: The 13,375 square foot strip center was built in 2016 and is situated on 1.76 acres. The property was purchased at a 7.56% CAP rate with the majority of leases being on ten-year primary terms. Phillip Mazaheri, CCIM represented the local Buyer Hartford Capital, LLC who paid $6,050,000 to the Seller/Developer Armstrong 19 Moore Development, LLC.