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Last week as the Industrial Asset Management Council held its Fall Forum in Indianapolis, The CCIM Institute unveiled the inaugural winners (all CCIM members) of its new Dealmakers Award at its Fall Forum in Vancouver, British Columbia. Recipients included Adam Palmer, who brokered the largest industrial sale in southwest Florida history, a $92.5 million transaction involving 455,388 sq. ft. on 41 acres in the Fort Myers market. The CCIM Institute said the sale “not only redefined valuation benchmarks in Fort Myers but also signaled a national shift: institutional investors expanding into tertiary markets and small-bay product types once deemed too niche.”
Alan Joel earned an award in the office redevelopment category for executing a $14.2 million acquisition of Glenridge Point, a 180,000-sq.-ft. complex. “Purchased out of receivership, the property faced a tangled web of challenges — including a 99-year ground lease, parking easement dependencies and high vacancy rates,” a CCIM release explained. “Joel’s strategic repositioning brought Northside Hospital, the property’s largest tenant, in as an equity partner, transforming a distressed office asset into a health-care-oriented, mixed-use redevelopment. The collaboration infused fresh capital and long-term stability while aligning the property with the booming health care corridor surrounding ‘Pill Hill,’ home to Northside, Emory St. Joseph’s and Children’s Healthcare of Atlanta.
Other awards went to Ashley Kitchen for her role in The Trails, a $300 million master-planned mixed-use development “transforming a long-underserved corridor in Douglas County, Georgia” that recently attracted a $90 million film studio from Lionsgate Studios. Jingru Cynthia Dong, of Vancouver-based CASM Global Real Estate Corporation, was said to demonstrate “exceptional tenacity and a holistic, finance-driven approach to close one of Western Canada’s most notable retail transactions” involving the $115 million sale of the Cottonwood Centre, an enclosed regional shopping mall in Chilliwack, British Columbia. Finally, William “Bill” Eshenbaugh, the president of Eshenbaugh Land Company in Tampa affectionately known as “The Dirt Dog,” was honored for leveraging “his deep expertise in land brokerage” to broker a $24 million land sale of 112 gross acres in Pasco County, Florida to Johns Hopkins All Children’s Hospital, which plans to construct a new pediatric care facility on the site near the I-75 and Overpass Road interchange. The CCIM Instituted noted the pivotal role the hospital will play in the rapidly growing Tampa region.
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