Chapter News

Congratulations to Chapter Members Recently 'Pinned' in October 2019

Last week's Pinning Ceremony in San Diego was a memorable event. We welcomed nearly 300 new designees into the CCIM family and among them were two of our very own. Congratulations to Karen Fairall, CCIM & Claire Matten, CCIM - your work to obtain the designation paid off!

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Derrick Stricker, CCIM, SIOR
Chris Bornhoft, CCIM
Kelly Richardson, CCIM
Craig Steinlicht, CCIM
Chad Gleason, CCIM
Karen Fairall, CCIM (New Designee)
Mike Armanious, CCIM
Claire Matten, CCIM (New Designee)
Matt Mellott, CCIM
Lien Ma, CCIM
Suria Elbietar
Larry Eu, CCIM

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Claire Matten, CCIM (New Designee)

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Karen Fairall, CCIM (New Designee)

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View Photos from CCIM-WA 'Ride To The Top With CCIM" Space Needle Networking Event!

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The Washington State Chapter of CCIM and Bisnow Seattle hosted the event ‘Ride To The Top With CCIM’ at the newly remodeled Space Needle on September 11, 2019, which was attended by a number of prominent commercial real estate professionals, along with Tim Blair, CCIM, 2019 First Vice President CCIM Institute.

Click here to view photos: https://flic.kr/s/aHsmHonsM8

Thank  you again to the sponsors of this event:

Fred McConkey, CCIM, McConkey Development Company
Gary Hunter, CCIM, Gary Hunter Companies (Capital Financial / Westlake Associates)
Craig Steinlicht, CCIM, Pentaviratae
Kelly Richardson, CCIM, Rowley Properties, Inc.
Nikki Hale, Regional Director | West, Compstak
Mark Broughton, The Phil Scott Group, Merrill Lynch Wealth Management

DONE DEAL! Charles Burnett, CCIM of KW Commercial Represents Buyer and Seller in an $3,220,000 Deal!

Charles Burnett, CCIM of KW Commercial represented both the buyer and seller in the sale of a 16-unit multifamily located at 401 Taylor Pl NW in Renton, Washington. Charles used his CCIM education for financial analysis, pricing, and lending availability.

Buyer: Taylor Place Inc


Seller: Slainte LLC

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Update from Larry Eu, CCIM Regarding the 2019 IREM / CCIM Annual Meeting in Yokohama, Japan

I attended the 2018 IREM / CCIM Annual Meeting in Yokohama, Japan from June 3 to June 6, 2019. There was no typo - the Japan Chapter work year starts in June and ends in June, so the work year 2018 started from June 2018 to June 2019.

The CCIM delegation from the United States of America consisted of 2019 President Barbara Crane, CCIM; 2020 President-Elect Eddie Blanton, CCIM; CCIM Institute CEO Gregory Fine; Director, CCIM North Dallas Chapter, Carole Tam, CCIM and myself, Director, CCIM Washington State Chapter, Larry Eu, CCIM. We were supported by CCIM Institute Vice President Jennifer Weed.

Other international delegations included the CCIM Korea Chapter and the CCIM Taiwan Chapter.

In addition to the city tour of Yokohama for the CCIM delegation and the IREM delegation, hosted by CCIM Japan Chapter and IREM Japan Chapter, we had a day of seminars by speakers from both IREM and CCIM delegations as well as industry experts from Japan to give us an insight into the Japan real estate and property management market.

The other highlight of the annual meeting was the inauguration of the 2019 CCIM Japan Chapter President Mr Toyota-San, CCIM and 2019 IREM Japan Chapter President Mr Eddie-San, CPM, CCIM. It was also a networking opportunity with 2020 CCIM Japan Chapter President Elect Mr Ari-San, CCIM, CPM.

Thank you!

Sincerely
Larry Eu, CCIM
Director, CCIM Washington State Chapter
Chair, Legislature Committee
leu@ccim.net

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DONE DEAL! Kim Adams of Coldwell Banker Commercial Danforth Represents Seller in an $2,500,000 Deal

Kim Adams of Coldwell Banker Commercial Danforth represented the seller in the sale of a three story medical office building with four tenants, along with two adjacent residential houses (potential for rent or tear down for additional parking) located in Auburn Medical District in Auburn, Washington.

Kim used his CCIM education to close the deal.

Buyer: Davis Development Services LLC


Seller: Auburn Professional Properties LLC

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2019 Legislative Update from Larry Eu, CCIM, Chair of the Legislative Committee

In the CCIM Washington State Chapter board meeting in April this year, I had the distinct honor of being appointed the new Chair of the Legislative Committee. I would like to use this opportunity to update our CCIM chapter members on the latest legislative issues at the state and national level as well as report on the NAR Legislative Week and Capitol Hill visits in Washington DC, which I attended on behalf of the CCIM Washington State Chapter.

At the state level, Washington State Legislature recently wrapped up their session with a number of issues that might affect us in our practice. Due to the hard work of our lobbyists, we were able to defeat the bill for the ban on dual agency, exclude commercial real estate in the capital gain legislature, reformed the condominium development liability act with more reasonable statutes, and exclude the real estate industry from the B&O tax increase. Unfortunately we were unable to influence the passage of the increase in Real Estate excise tax, which will affect commercial real estate sellers, owners, and developers above the price point of $1.75m.

On the national level, issues that we cared about and pending before Congress include the long term reauthorization and meaningful reform of the flood insurance legislature, all encompassing investments in our infrastructures, effective data privacy and security legislature for the technologies we used, expanded access to association health plans for realtors as independent contractors, Fannie and Freddie reforms, extending the expiring mortgage debt cancellation tax relief, fixing the marriage penalty in the local and state tax under the Jobs Act, indexing to inflation the $750,000 cap on mortgage interest deduction, capital gains exclusion on the sale of principal residence, fair housing protection under the Equality Act, and last but not least, clearer rules facilitating the use of the Opportunity Zones.

The above issues are some examples of where our dues and membership fees have been put to good use and I strongly encourage everyone to pay their dues and support the good work of the lobbyists and various organizations working hard to fight for your rights. The work is never ending, and the opponents have promised to re-visit the legislatures that we have fought and won, so your continued support is vital. If anyone would like more details on the above legislatures, please feel free to contact me.

Thousands of Realtors from across the country and internationally (Yes! We have international Realtors!) congregated on our nation’s capital on May 13-18 this year to discuss the issues facing the real estate industry, public policy and the association. It was also an opportunity to network among the leaders of the various Realtor associations and affiliated organizations, including but not limited to WA Realtors, WSCAR, and of course the CCIM Institute. Key speakers of the Legislative and Political Forum include Governor Terry McAuliffe, former Governor of the State of Virginia, and Governor Haley Barbour, former Governor of the state of Mississippi.

One of the key highlights of this week’s event was the Capitol Hill visits where Realtors marched up the Hill to lobby and advocate the issues facing the Real Estate industry and Realtors. We have Washington state realtors visiting both of our Senators and all 10 of our House Representatives. I was part of the delegation visiting Senator Patty Murray and Representative Kim Schrier. Being the only commercial Realtor in the delegation, it fell on me to advocate on the commercial issues such as the Opportunity Zones.

The grand finale was an address by the President of the United States of America, President Donald J. Trump, which got everyone excited and talking, and of course we had Secret Service agents swamping the hotel days before the actual event.

It was a busy and hectic week, but I would say it was a fruitful and successful week. I would also like to use this opportunity to request that chapter members reach out to me if they have any legislative issues that they are facing that they would like the committee and Realtor associations to look into. Finally, I would like to appeal to Chapter members who have interests on legislative issues to join me on the Legislative committee and all members to actively participate in the CCIM Washington State Chapter and all our activities. Thank you!

Faithfully,
Larry Eu, CCIM
Director, CCIM Washington State Chapter
Chair, Legislature Committee

DONE DEAL! Marianne Christian, CCIM of KW Commercial Eastside Represents Buyer in an $4,450,000 Deal

Marianne Christian, CCIM of KW Commercial Eastside represented the buyer in the purchase of a 21,121 SF office warehouse at 17270 Woodinville-Redmond Road in Woodinville, Washington.

Marianne used her CCIM education to analyze income streams and compare investments.

Buyer: WLA Holdings, LLC


Seller: Woodinville Landing LLC

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DONE DEAL! Bob Fredrickson, CCIM of CBC Danforth Represents Seller in an $1,690,000 Deal!

Bob Fredrickson, CCIM of CBC Danforth represented the seller in the sale of a three-parcel, 0.62 acre development site on Market Street in Downtown Tacoma. Included in the sale was a 10,420 SF commercial building that is leased out to two tenants. The University of Washington purchased the property, as it is located within the UW Tacoma Campus Development Plan area. 

Bob used his CCIM education and networking to complete the deal.

Buyer: University of Washington


Seller: MC Market Street LLC

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Congratulations to Chapter Members Recently 'Pinned' in April 2019

Our chapter would like to congratulate our members who recently received their CCIM Institute pins at the CCIM Institute April meetings.

Congratulations to:

Amia Froese, CCIM of Saratoga Commercial Real Estate
Cal Mitchell, CCIM of CCM Commercial Realty
Lien Ma, CCIM of Great Earth Realty
Carol Gibson, CCIM of Port of Moses Lake
Robert Sandoz, CCIM of Windermere/Whatcom, Inc.
Daniel Rants, CCIM of The Rants Group
Cameron Wilson, CCIM of The Rants Group

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Q&A With Larry Eu, CCIM, the Newest Addition to the Portfolio Guidance Committee

While sitting at the same table with Larry Eu, CCIM and other CCIM-WA chapter colleagues at the March Speaker Series Luncheon, I watched Larry in action while he spoke with another broker about a restaurant space in Bellevue and exchanged cards so that they could meet about a deal. Afterward, I had an opportunity to chat with him about being the newest addition to the Portfolio Guidance Committee and his journey to becoming a CCIM.

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1) How did you learn about the CCIM designation?

Two of the best designations for commercial real estate brokers are the CCIM and the SIOR. I have known about the CCIM designation for some time and I have worked with some excellent CCIM designees on my transactions.

2) What made you want to earn your CCIM designation? Was it the ability to make more money? The prestige of the designation? The technology platforms available via the Institute?

The CCIM designation provides clients with the confidence and trust that they can rely on the knowledge and experience of the professional wearing the pin. Before my designation, my clients and my counterpart brokers had to work with me before they realized I knew what I was doing. The CCIM pin is that instant recognition.

While making money is important and the rationale of why we are all working as brokers, earning that commission should not be the primary motivation while we are working on transactions. Many brokers in our industry seem to put earning a commission at the forefront of their mission, and they end up putting their interests above that of the client. The CCIM designation is my contribution to my client that they are not only getting excellent knowledge and experience, but that I will take care of their interests.

3) How quickly did you obtain your designation? How many months did it take you?

I obtained my designation in 5 months 10 days, from the first day of class to the pinning ceremony. 
 
4) Would you recommend getting your designation so quickly? If not, why not?

There is no right or wrong answer.

I am a goal seeker and a go-getter. Once I set my mind to do it, I will get it done and I want it done fast. It involved taking up the challenge of juggling the coursework, traveling, working on transactions, attending to clients, supervising my brokers, and having time for family and friends. It involved tight time management and making some sacrifices of comforts and spare time.

If you are a slow and steady worker, and want more time to absorb the knowledge and experience, and also have time to enjoy the luxuries of life, it is also a good and recommended approach. We all work differently and we all work at our own pace. As the saying goes, all roads lead to Rome.

5) How has your CCIM designation helped you in your commercial real estate career?

The CCIM designation is a recognition that we have the knowledge and experience and my clients' interests would be well taken care of. My clients also have the pride that they are working with the best in class professionals.

CCIM designation also provides me with the network with fellow CCIMs to work deals together, a network of trust, and a network that speaks the same language.

6) Have you done any deals with other CCIMs? If so, please provide a bit of detail.

Yes. I am working on multiple deals with my CCIM classmates and fellow CCIMs in a few states. This is the beauty of CCIM, in that it not only provides the acquisition of best-in-class knowledge but also enables a network of like-minded professionals across the globe that speak the same language.

7) How do you feel about being on the Portfolio Guidance committee with Mike Armanious? How are you planning to make a positive difference for our chapter in your new committee role?

I have a tremendous amount of respect and admiration for Mike Armanious and it is my honor to be working with Mike on the Portfolio Guidance committee and to be learning from Mike. I hope to share my limited and humble experience and knowledge with CCIM candidates and if needed, to mentor them as they embark on this wonderful journey in their life. The journey to the pin is the first step for the CCIM candidates to the CCIM family and I look forward to be a small part of their first step towards a lifetime and lifelong experience. 

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Take the time to speak with Larry at an upcoming event to learn more about him and how you might do business with him in the future.




DONE DEAL! Rodney Deacon of RE/MAX Victory represents buyer in $200,000 land deal!

Rodney Deacon of RE/MAX Victory represented the buyer of 4.9 acres of raw land for commercial business development in Port Orchard, Washington.

Rodney worked with Craig Steinlicht, CCIM and credits networking with, and a referral from, a CCIM for the ability to close the deal.

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Congratulations to Leigh Wang--the recipient of the 2019 Palmer Berge Scholarship!

Leigh Wang is a Senior Advisor at SVN Raven Commercial Real Estate Advisors and a licensed broker in Washington State. She came to SVN after spending many years in commercial banking at both regional and international banks in the Greater Seattle Area.

Leigh is the recipient of the 2019 $1,000 Palmer Berge Scholarship awarded by the Washington State Chapter of CCIM.

"We are super proud of her, not only for her amazing networking ability and being the scholarship recipient, but she has decided to become a candidate for CCIM Designation and adds that to her already many accomplishments", said Suria Elbietar, Managing Director of SVN Raven Commercial Real Estate Advisors.

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DONE DEAL! Charles Burnett, CCIM of KW Commercial Represents Seller in an $800,000 Deal!

Charles Burnett, CCIM of KW Commercial represented the seller, Boonsripisal in the sale of a value-add 8-unit multifamily property located at 1013-1015 76th St Ct E in SE Tacoma. Charles used his CCIM education to complete both a market and financial analysis.

Buyer: Henley Property Management, LLC


Seller: Boonsripisal


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Congratulations to Chapter Members Recently 'Pinned' in October

Our chapter would like to congratulate our members who recently received their CCIM Institute pins at the October meeting.

Congratulations to:

Charles Burnett, CCIM, of Sound Realty Group
Stephen Comstock, CCIM of CBC Worldwide
Larry Eu, CCIM of Great Earth Realty
Natalie Foskey, CCIM of Bradley Commercial
Aaron Gingerelli, CCIM of Summit Property Management
Michael Reams, CCIM of Windermere

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DONE DEAL! Kim Adams, CCIM and Michael Swanson of CBC Danforth Represent Buyer in a $1.39M Deal!

Kim Adams, CCIM and Michael Swanson of CBC Danforth represent the buyer, ARCO in the completion of a rare ground lease contract execution in Graham WA. The property is on a several mile corridor on Meridian absent of any fueling stations or convenience stores in the area, and is surrounded by new residential developments. ARCO has the site permitted and is preparing to begin construction of the gas station, AM/PM convenience store and car wash. They plan to be operational by spring of 2019.


Buyer: 
Kim Adams, CCIM

Seller: Pacific Rim Real Estate Group

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CCIM-WA October Speaker Series Luncheon Panel

In October, CCIM-WA welcomed Dylan Simon, Executive VP Colliers, Tiffini Connell, Managing Broker, West Coast Commercial Realty, Jeff Forsberg, CCIM, Principal NAI Puget Sound
Properties, and Mike Schreck, Executive Managing Director Newmark Knight Frank on Wednesday, October 10, 2018.

Moderator DerekDoke, CCIM directed the panel as they discussed the current issues and opportunities surrounding the asset classes of multifamily, retail, industrial, and office.
























DONE DEAL! Amanda Hahnemann of RGM Commercial Represents Seller in a $10.625M Deal!

Amanda Hahnemann, CCIM of RGM Commercial represented the seller of a $10,625,000 million industrial building in Woodinville with 16,486sf of office space and 50,486sf of warehouse. Robert Messmer, CCIM was also involved in the deal.


Amanda used CCIM's STDB and her CCIM education and tools to close this deal.

Buyer: Redapt, Inc.

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DONE DEAL! Jason Wilcox of Raven Commercial Real Estate Represents Seller in a $1.57M Deal!

Jason Wilcox, CCIM of Raven Commercial Real Estate represented the seller of a $1,570,000 million multifamily property with a mix of townhouse and garden style units located in east Bellevue.


Jason used CCIM's STDB and the Realnex platform to create marketing collateral and the offering memorandum including property proformas. CCIM education and tools helped in demonstrating to the seller the benefits of selling and reallocating capital into a larger project with higher potential returns. 

Buyer: Shi

Seller: Dixon

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DONE DEAL! Charles Burnett represented the buyer in a $5.25 million deal

Charles Burnett of KW Commercial/Sound Realty Group represented the buyer in a $5.25 million deal of a 19-unit new construction in Vancouver, WA.

Charles used STDB and CCIM education in financial analysis of the 1031 exchange process to successfully close the deal.

Buyer: AL Koh LLC / SJ Park LLC

Seller:
FG Investments
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DONE DEAL! Charles Burnett represented both the buyer and seller in a $3.6 million deal

Charles Burnett of KW Commercial/Sound Realty Group represented the buyer and seller in a $3.6 million transaction of five fourplexes sold as a 20-unit assemblage at 5201-5215 S Orchard Street in Tacoma.

Charles used CCIM education in financial analysis of the 1031 exchange process to successfully close the deal.

Buyer:  AL Koh LLC / SJ Park LLC

Seller:
Paul Ritter

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DONE DEAL! Helen Wattley-Ames of Maraval Real Estate Services Represents Lessor in a 3,276 SF Deal!

Helen Wattley-Ames, CCIM of Maraval Real Estate services represented the lessor on a 3,276SF lease deal at 5315 Roosevelt Way NE in Seattle.

Known to generations of Seattleites as the Friendly Foam shop, this vintage building is now being renovated to house the Cooperative Children's Center, another University District fixture.


Helen used CCIM education to conduct a demographic and site analysis of the neighborhood which is rapidly changing due to upzoning. Deal analysis included required investment, operating revenue and expenses, and deal comparison.

Lessee: Cooperative Children's Center

Lessor: 5315 Roosevelt, LLC

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CBA / CCIM-WA Golf Tournament Highlights

Our chapter co-sponsored the CBA/CCIM 2018 Golf Tournament at The Plateau Club in Sammamish on Monday, June 4, 2018.

Thanks to Steve Corey of Fidelity National Title and Fred McConkey, CCIM, of McConkey Development Company for working at our sponsored hole where golfers had a chance to win prizes by playing Corn Hole.

We also want to thank the hard-working staff at CBA for such a great tournament.

Congratulations to Derek Doke, CCIM, and Allen Greathouse of Barclays Management Company, Arie Salomon, CCIM, of NAI Puget Sound Properties, and Kelly Beckley, of BDP Design LLC for winning an award for the "Most Honest Score".






























































DONE DEAL! Jason Wilcox of Raven Commercial Real Estate Represents Seller in a $1.57M Deal!

Jason Wilcox, CCIM of Raven Commercial Real Estate represented the seller of a $1,570,000 million multifamily property located in Bellevue.


Jason used CCIM's STDB to successfully close this deal.

Buyer: Hosseinzadeh

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DONE DEAL! Bob Fredrickson, CCIM and Michael Swanson represented a developer in a $5.45 million deal

Bob Fredrickson, CCIM and Michael Swanson represented a developer with a $5.45 million sale of the 1.65-acre former Sleep-Aire property on Aurora Ave N in Shoreline, WA. The property abuts the Interurban/Burke-Gilman Trail and is conveniently located directly across from the 300-stall Rapid Transit Park-n-Ride. The developer is projecting the construction of a 225-unit multi-family complex to be completed between 2019-2020.

Bob and Michael used CCIM tools such as STDB, CCIM education and CCIM networking to successfully close the deal.

Buyer:  Trent Development Inc.

Seller:
Pearson Family Investment

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Congratulations to our Chapter's Newest CCIMs

Congratulations to our Chapter's newest CCIMs Lawrence Smith of NAI Business Properties; Steve Dorenbush of Keller Williams Commercial; Katie Betz of Urban Renaissance Group; and Alice Santos of Keller Williams Realty.
  
















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DONE DEAL! Charles Burnett represents seller in $3,200,000 million 23-unit multifamily deal

Charles Burnett of Keller Williams Commercial represented the seller in a $3,200,000 million 23-unit multifamily deal in Milton. The seller purchased the property in November 2017 for $1,850,000, and after renovations, sold it for $3,200,000.

Charles used CCIM tools such as STDB and his CCIM education for analysis, pricing, and positioning of the property.

Buyer:  J. Peterson

Seller: A & L Koh LLC


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Video Highlights from the CCIM-WA March 2018 Speaker Series Luncheon Panel

CCIM-WA welcomed Fred McConkey, CCIM, McConkey Development Company, Gary Hunter, CCIM, Principal & Managing Broker, Westlake Associates, and Morgan Llewellyn, CCIM, Owner & Broker, Llewellyn Real Estate as they shared with the audience their success in acquiring investment property as a commercial real estate broker.

View the highlight video here.

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DONE DEAL! Jason Wilcox, CCIM represents buyer in $4,325,000 million 32-unit apartment complex deal

The principals of Raven Commercial Real Estate sponsored the acquisition of a $4,325,000 million 32-unit apartment complex in Tacoma, Washington.

Jason Wilcox, CCIM represented the buyer, HC 12712 C LLC.

According to Jason, "I utilized my CCIM education to research the sub market, rent, and demographic trends to determine viability of the acquisition."

Buyer:  HC 12712 C LLC

Seller: Heather Court Apartments LLC

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DONE DEAL! Jason Wilcox, CCIM represents seller in $1,506,000 million multifamily deal

Jason Wilcox, CCIM of Raven Commercial Real Estate represented the seller of a $1,506,000 million four-unit stabilized multifamily property located in East Bellevue.


According to Jason, "My CCIM education and access to CCIM tools helped me to create a compelling offering memorandum to demonstrate the investment value to prospective buyers and to successfully close this deal."

Buyer:  Johnson

Seller: Diederich

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DONE DEAL! Bob Fredrickson, CCIM represents buyer in $1,550,000 deal

1.17.18: Bob Fredrickson, CCIM of CBC Danforth represented the buyer of two buildings totaling $1,550,000 located in Monroe, WA.

Bob utilized CCIM education, networking, and STDB to successfully close the transaction.

Buyer:  Scott McMillan

Seller: Capps Investment Group, LLC

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