TCN netWORKING: TCN Worldwide Deals, Industry News and Weekly Highlights

Congratulations! Hanna Commercial/TCN Worldwide in Cleveland has completed an assignment with Forte Real Estate Partners/TCN Worldwide in Minneapolis-St. Paul. Anthony Delguyd at Hanna Commercial initiated the assignment and worked with Dan Lofgren at Forte Real Estate Partners to complete this 36,162 SF seven-year lease.

Major Office Distress Is All the Talk. But So Far, it’s Not the Reality

Wealth Management Real Estate: Office loan delinquencies and distressed office sales remain subdued, though the sector is facing headwinds. While there is a lot of talk about the potential for office distress, the figures from the firms that track commercial loan delinquencies, including Trepp, Fitch and Moody’s, don’t bear this contention out.

How Strip Centers Are Staying Relevant

Commercial Real Estate Executive: Brett Heimes of DP Management/TCN Worldwide on why strip malls remain a viable asset class for investors. After two terrible years—when stores closed due to lockdown mandates and foot traffic plummeted—the retail industry has had to reinvent itself to gain its customers back.

What, No Beer?! Employees Want Better Tech, Not Snacks

Bisnow: In an effort to entice employees back into the office, companies have ramped up digestible perks like beverages and food, but a recent survey conducted by proptech firm Essensys indicated that employees don’t care about snacks or other frivolous amenities — they want better technology and flexible workstations...52% looked at the tech amenities in other buildings with envy, Commercial Observer reported.

Pacific Coast Commercial/TCN Worldwide in San Diego Brokered the Sale of a Medical Office Building in La Mesa for $8.4M

Member Deal Announcement: After many years of 100% occupancy the property had 3 major tenants move out of the building in a short period of time. The Seller's agents, Brian Crepeau and Ken Robak with Pacific Coast Commercial provided the Seller with the options of releasing the building or selling as an “Owner / User” or “Investment” opportunity. The result was 4 offers from Owners / Users with the winning offer at full asking from Family Health Care Centers of San Diego, Inc.

Norris & Stevens, Inc./TCN Worldwide in Portland Brokers $1.475M Retail Sale of Office/Retail Space in Spokane Valley, Washington

Member Deal Announcement: Old Sterling LLC recently completed the $1,475,000 purchase of an office/retail property located at 11205 E Sprague Ave in Spokane Valley, Washington. Constructed in 1970, the approximately 6,300 square-foot building is situated on 0.64 acres of land and is conveniently located 20 minutes away from Spokane International Airport. Tim Pfeiffer and Camden Muller with Portland-based Norris & Stevens, Inc. and Danny Patterson with Synergy Properties represented the Buyer and the Seller, Garren L. Ingram and Barbara L. Ingram in the transaction.

Barclay Street Real Estate/TCN Worldwide in Calgary Welcomes William Reeder as Senior Vice President and General Manager, Property Management Division

Member Announcement: Barclay Street Real Estate is proud to welcome William Reeder as our new Senior Vice President and General Manager, Property Management Division.