CORFAC Connections

CORFAC Welcomes 2017 Leadership Team

CORFAC International is pleased to announce that G. Raymond (Ray) Lyons, CCIM, MRICS, SIOR, of Thomas L. Johnson Realty/CORFAC International in Toronto, will begin his term as 2017 President of the organization on January 1. CORFAC thanks 2016 President John R. Homsher, CCIM, Podolsky|Circle CORFAC International in Chicago, and the entire 2016 leadership team, for their dedication throughout this year.

“I’m proud of what we’ve been able to do together this year in terms of strengthening CORFAC, retooling our Bylaws, expanding and formalizing our standing committees, unifying the leadership team, adding sponsors to our conference series and adding members in numerous and strategic locations domestically and abroad,” said Homsher. “I am 100 percent confident that Ray Lyons and the rest of the leadership team will capably guide us forward in 2017 and subsequent years.”

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Ray Lyons, CCIM, MRICS, SIOR 2017 CORFAC President

Incoming President Ray Lyons, who is a full service broker specializing in the industrial sector, has previously served on CORFAC’s Executive Committee as Vice President, Treasurer and Secretary. In addition, he has served on many of CORFAC’s governance committees, including Transactions, Communications, Conference, International, Professional Development and Standards of Excellence. Lyons was honored as the 2013 Charlie King MVP Award recipient for his many contributions to all areas of the organization. He is also active in SIOR both nationally and in the Central Canada Chapter.

“John Homsher has been an exceptional steward of our association and network during his tenure,” Lyons noted. “We have continually attracted new U.S. and international members as well as hosted two outstanding conferences in New Orleans last spring and more recently the Fall Summit here in Toronto.”

CORFAC’s 2017 Executive Committee includes:

  • President G. Raymond Lyons, CCIM, MRICS, SIOR, Thomas L. Johnson Realty/ CORFAC International (Toronto, ON)
  • Vice President Lou Suski, Rector Phillips Morse/CORFAC International (Little Rock, AR)
  • Treasurer Andy Jaffe, Commercial Properties Inc./CORFAC International (Phoenix, AZ)
  • Secretary Sim Doughtie, CCIM, MCR, SIOR, King Industrial/CORFAC International (Atlanta, GA)
  • Past President John Homsher, CCIM, Podolsky|Circle CORFAC International (Chicago, IL)
  • At-Large Member Joe Latina, Patterson Woods/CORFAC International, (Wilmington, DE)
  • At-Large Member Kurt Walsh, ProTen Realty Group/CORFAC International (Chicago, IL)
  • At-Large Member Scott Madsen, SIOR, Capacity Commercial Group/CORFAC International (Portland, OR)
  • At-Large Member Mark Bingman, MCR, Rector Phillips Morse/CORFAC International (Little Rock, AR)

Congratulations to all 2017 CORFAC officers and Executive Committee members. Thanks to all 2016 leadership team members for their dedication and service to CORFAC.

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Congratulations to CORFAC’s 2016 Standards of Excellence Award Winners

CORFAC International is pleased to announce the recipients of the 2016 Standards of Excellence Awards, which were given at the recent Fall Summit held in Toronto, Canada. CORFAC 2016 President John R. Homsher, CCIM, presented four individual members with special recognition awards and 15 member firms were recognized for excellence in upholding the CORFAC brand, mission and values throughout the past year.

Charlie King MVP Award

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Charlie King MVP Award winner David Boyd, CCIM, SIOR

David Boyd, CCIM, SIOR, of Boyd Commercial/CORFAC International in Houston Texas, received the Charlie King MVP Award for his his devoted and exceptional service to CORFAC International.

David has not only been one of the most valuable players on the team during the current year, but also has made substantial contributions to the overall development of CORFAC over the years, particularly in regard to CORFAC’s branding, communications and marketing.

This is David’s second time winning the Charlie King MVP Award for his dedication and contributions to the organization.

Olen Monsees Award

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Olen Monsees Award winner Sim Doughtie, CCIM, MCR, SIOR

Sim Doughtie, CCIM, MCR, SIOR, of King Industrial/CORFAC International in Atlanta, Georgia, was honored with the Olen Monsees Award, which was created in memory of Olen, who was President of Karbank Real Estate Company in Kansas City, Missouri, and a CORFAC colleague since 1969.

Olen was an iconic figure in the Kansas City real estate brokerage community. He distinguished himself with his plain spoken wisdom, quiet dignity and low-key manner that engendered deep loyalty among his clients, friends and colleagues. His focus was always to get the job done properly. He worked with a natural sense of responsibility, without complaint and without excuses. Olen was the finest of gentlemen.

Sim was recognized with this award because of his willingness to go above and beyond the call of duty without being asked in all areas of service to CORFAC, making him the ‘Unsung Hero’ of the network.

 

Thomas B. Hayes, Jr. Award

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Thomas B. Hayes, Jr. Award winner Kurt Walsh, ProTen Realty Group/CORFAC International

The Thomas B. Hayes, Jr. Award was given to Kurt Walsh of ProTen Realty Group/CORFAC International in Chicago for his tireless efforts at creating more business development and deal-making opportunities among CORFAC members.

The award was established in 2003 to honor the late Tom Hayes, a Principal of Integrated Corporate Property Services/CORFAC International. Tom was consistently on the cutting edge of monitoring and assessing new technology and keeping his CORFAC colleagues updated on them. In 2012, the award was expanded to include all creativity and innovation within CORFAC. Members who have shared innovative and creative ideas relevant to commercial real estate brokerage are nominated for this award.

Walsh served as CORFAC’s Transactions Committee Chair for the past six years, implementing a range of innovative and new ideas to encourage referral business among member firms.

New Award: Steven H. Podolsky International Member of the Year Award

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Steven H. Podolsky International Member of the Year Award winner Alistair Subba Row of Farebrother/CORFAC International

 

This newly created award is named in honor of Steven H. Podolsky, SIOR, of Podolsky|Circle CORFAC International, for his strategic implementation, commitment, dedication and outstanding service in growing the International affiliates of CORFAC. Steve chaired the International Committee during a crucial re-building stage and gave selflessly of his time. He was also a founding member of CORFAC International.

Alistair Subba Row of Farebrother/CORFAC International in London was selected as the first-ever recipient of the award for his outstanding contributions to CORFAC in the four years his firm has been part of the network. Alistair has demonstrated exemplary efforts to strengthen the international affiliate membership network while expanding the visibility, collaboration and reach of CORFAC globally.

 

Fourth Annual Standards of Excellence Awards

The Awards ceremony concluded with the Standards of Excellence Awards, which recognize the firms that perform to the highest CORFAC standards. Member firms completed an application to be considered for an award and were evaluated on the following criteria:

  • Leadership
  • Participation
  • Referrals
  • Industry Awards
  • CORFAC Branding
  • Reporting

Winning firms were recognized in three categories: Platinum, Gold, and Silver. The 2016 winners include:

Platinum Award Winners

  • Boyd Commercial
  • Joel and Granot Real Estate
  • Patterson Woods Commercial Properties
  • Podolsky Circle
  • ProTen Realty
  • Providence Commercial
  • Weber Wood Medinger

Gold Award Winners

  • The Lewis Group
  • Rector Phillips Morse
  • Thomas L. Johnson
  • TRI Commercial

Silver Award Winners

  • Crump Commercial
  • King Industrial – Florida
  • Piedmont Properties of the Carolinas
  • Porter Realty Company

Congratulations to all CORFAC members and firms who were honored for their achievements in 2016.

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CORFAC International’s Global Affiliates Connect in London

CORFAC International’s global affiliates met last month to discuss operational initiatives and business development opportunities for the organization’s international offices. Joined by 2016 President John Homsher, CCIM, representatives from CORFAC’s offices in England, France, Germany, India, Israel, Mexico, Romania and Russia gathered for a meeting and networking dinner while in London for SIOR’s World Conference June 23-24.

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ProTen Realty/CORFAC International: Delivering Time-Tested Results to Clients

www.protenrealty.com

Core property segments and services: User reps for primarily office, but also for industrial, retail and investment properties.

Market areas served: The entire Chicago Metro area but also nationally and internationally as the client requests.

Member of CORFAC since: 2007

Key Principals: 

Renee New

Renee Betzelos Managing Principal 312-242-6006

Kurt New

Kurt Walsh Managing Principal 312-242-6005

 

 

 

 

 

 

 

How long has ProTen Realty/CORFAC International been in the industry? ProTen was founded 15 years ago. After working for larger firms, we introduced a high-quality boutique firm with a blue chip client base specializing primarily in tenant representation and secondarily in capital markets.

Who are your most notable clients and what do you do for them?

  • Freddie Mac – Multiple office deals (both acquisitions and dispositions)
  • ICE (owns N.Y.S.E.) – Multiple office deals and data center deals across the U.S.
  • Intrinsic Charter Schools – Multiple purchases (buildings and land sites)

Generally, we have a strong client base in financially-based firms and not-for-profit organizations.  Since the founding of our firm, we have worked on transactions that are valued in excess of $300 million.

What were your most notable transactions of the past year? We are just now completing in the Chicago CBD an office headquarters lease for an ASCP client, 33,000 RSF, ~$13.8 million in total consideration. We won the assignment in February by beating out Savills/Studley, CBRE and JLL.

What makes your firm a go-to solution for clients in your market? Commitments from senior management of the firm and our overall client service. Our creative thinking, financial analyses and presentations of the multiple outcomes versus best in the market sets us apart.

What do you value about your CORFAC membership and why do you stay affiliated with the network? All member firms embody the same philosophy, beliefs, approach and service in successfully conducting business. It has also been a consistently positive experience for us, both financially and emotionally.

What would you like CORFAC members to know about your firm? We pride ourselves on delivering results that stand the test of time in terms of providing the best financial, most flexible and contractually tight transactions.

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CORFAC International Members Gather at ICSC’s 2016 RECON

Last week CORFAC International hosted a hospitality suite at the Westgate Hotel in Las Vegas during the International Council of Shopping Centers’ 2016 RECON conference. A number of CORFAC members who attended used the suite for meetings with colleagues as well at to recharge and connect with fellow CORFAC members.

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Brokers from TRI Commercial/CORFAC International in Roseville, CA, met with BH Properties’ Chief Acquisitions Officer Andrew Van Tuyle in the CORFAC hospitality suite last week, including (left to right) Van Tuyle, Cole Sweatt, Brandon Sessions and Robb Osborne.

ICSC Shot 3Patrick Gaughan (left) and John Chirhart of Gaughan Companies/CORFAC International in Minneapolis attended ICSC to seek a quick service restaurant operator to occupy a portion of a ground up development project the company is building in a Minneapolis suburb.

ICSC Shot 4ICSC Shot 5Shown left to right, Trent Rustan and Jason Price of Commercial Properties Inc.,/CORFAC International in Phoenix, CORFAC Executive Director Jonathan Salk, John Chirhart, Patrick Gaughan and Mark Bingman of Rector Phillips Morse/CORFAC International in Little Rock, Arkansas gathered in the suite.

Alissa Adler (left) with Podolsky|Circle CORFAC International in Chicago hosted a networking and business development reception at the Cosmopolitan Hotel on Monday night. Melissa Peterson (center) and Rebekah Carlson are with Next Realty, which has offices in Northbrook, IL, and Arlington, VA.

 

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Highlights from SIOR’s 2016 Spring Conference

By David Boyd, CCIM, SIOR, of Boyd Commercial/CORFAC International in Houston, TX

The Society of Industrial and Office Realtors celebrated its 75th anniversary at the Annual Spring Conference held last month in San Diego. The conference included insights on some of the most relevant topics in commercial real estate. Read below for some highlights and visit http://www.sior.com/conferences/2016-spring-world-conference for a complete conference recap.

Kill the Company: Lisa Bodell, CEO of futurethink

Opening keynote speaker Lisa Bodell is an award-winning author of the best-selling book Kill the Company: End the Status Quo, Start an Innovation Revolution and CEO of futurethink, an innovation-training firm that helps businesses embrace change and become world-class innovators.

Bodell said there is a structured way for change and change is a choice. The future is about who you are becoming, not who you are today. Companies are changing faster than ever before. From a car maker to pharma company. In the future, car sensors could diagnose illnesses and administer medications while you are driving. Smart objects can now self-assemble out of Polymer materials. 3D printers can manufacture a building and 4D printing is coming. Adaptive infrastructure such as self-healing concrete.

Complexity and complacency prohibit change, become your competitor and kill your company. Ask yourself what you should get rid of and then ask why you haven’t done it yet.  Many in business today are not leading, just managing — valuing process over culture, we do instead of think. This must change. Ask yourself – where do you do your best thinking? How open is your company to change? To hiring diversity? Look five to 10 years out, not one to three years out. Look at other industries to see what they are doing.

Make simplicity a habit. It’s not about efficiency, it’s more about culture. Change is a choice. Eliminate the unnecessary and challenge your rules.

Surviving and Thriving in an Ecommerce World: Benjamin Conwell, Cushman & Wakefield

Online shopping is growing at a rate of 15 percent per year and comprises 9 percent of all U.S. sales. In today’s climate, shoppers research options online before buying, often comparing at least three retailers. Much of the growth in overall retail sales is online. Industry leaders include Wayfair, Home Depot, Amazon, Kohls, Target, Nordstrom and Walmart, which all have good online growth. Sports apparel retailer Nike has direct-to-consumer sales topping $1 billion.

How are these trends affecting commercial real estate? Fifteen percent of new industrial leasing is ecommerce omni-channel based as retailers are striving to provide a seamless experience across the different interactions. They use personalization, tracking information and present serve-up ads for similar products that reflect your online shopping habits. Research shows that omni-channel shoppers spend three times what a pure in-store shopper spends at a retailer.

“Last mile” and remote delivery are emerging trends. For instance, in the U.K., retailers are delivering merchandise to a locker at a transit center or gas station.

Days of massive fulfillment centers are not over, but they are more prominent in outlying areas. Distribution centers range from 300,000 sf to 600,000 sf. Sortation centers are 200,000 sf to 500,000 sf. The last-mile terminals range from 10,000 sf to 70,000 sf to store fast-moving inventory. Fulfillment is mostly done by third-party logistics providers. As a result, 40′ clear buildings will be needed soon. In addition, high volume space needs a lot of trailer parking and material handling technology is getting better to take advantage of the height.

Commercial Real Estate Market Update and Forecast: Mark Dotzour, Ph.D., Economist

Dr. Mark Dotzour, former chief economist for the Texas A&M University’s Real Estate Center, shared his views on the commercial real estate market and what the industry can do to take advantage of opportunities in the current condition.

Dotzour likened the current economy to “playing ball in the later innings.” The average market expansion is 58 months and currently we are in the 82nd consecutive month of expansion. And, the bullish outlook continues: “We are in the 7th or 8th inning,” Dotzour said.

Corporate profits have been flat since 2011. Energy, farming and manufacturing are slowing now, but technology and other areas increasing. Consumer confidence is strong. Wages are increasing.  Small businesses are looking to hire in next three months, while major corporations are mixed. Texas has the highest job growth in last 15 years, followed by CA, FL, AZ, VA, NC, GA, WA and CO.  Single-family home construction should increase across the country and help the economy continue to grow.

There are several worldwide economic myths taking place right now. First, the Japanese stock market is strengthening, but they are printing money to buy stock and prop up the market. Second, the Chinese stock market is also increasing. Stock can be purchased, but sales are restricted. The government loans money to the public to use to buy stock, creating an artificial condition. The European Central Bank, which has been loaning money to countries already heavy in debt, is printing money to buy bonds. The common theme here is that these markets may be smoke and mirrors.

The U.S. stock market is now going up when we have bad news because low interest rates push the market up, and bad economic news generally means low interest rates.  High-frequency trading drives over half the market activity. A signal of weakness in our stock market is current corporate buy back of stocks rather than investing in growing their business.  Margin debt is at a record high. Ultimately, our stock market is not healthy.

Commercial real estate has no competitors for value and returns. Money is out there and needs to go somewhere. U.S. real estate will be the shining star around the world, even at 5% Cap Rates. Property remains in hyper demand.

The Energy War continues to escalate: Saudi Arabia pushed oil prices down, but our technology and capital have made it easier for us to make money at $50 a barrel. The Saudis will be bankrupt in five years if the price of oil doesn’t rise. The U.S. can profit at $50 a barrel, but they need $90 a barrel to pay social contracts. Russia and other global economies are getting hurt in the low pricing environment, but the U.S. will adapt and win the energy war. This will change world energy dynamics.

Dotzour concluded with investment themes for 2016: Interest rates will stay low, home price appreciation will continue, overseas currency declines will reduce foreign purchases in the U.S. Europe, China and Japan will continue to print money. There will be no inflation in the U.S. until oil prices rise. Finally, pension funds will buy more real estate and commercial real estate will continue to serve as an alternative to hedge funds.

— David Boyd, CCIM, SIOR, of Boyd Commercial/CORFAC International in Houston, TX, is Chairman of CORFAC International’s Communications Committee. 

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Collaborative Approach Wins Clients: ICR Commercial/CORFAC International

www.icrcommercial.com

Core property segments and services: Sales and leasing of commercial real estate, including industrial, office, retail and multifamily, commercial development projects and commercial and residential property management.

Market areas served: Saskatchewan is our primary market. Within the province Saskatoon and Regina are the two main cities in which ICR has offices. We also service all secondary markets within the province.

Member of CORFAC since: 2014

Key Principals:

Images can be used by Barry Stuart Real Estate - Not for resale

Barry Stuart, Managing Partner Saskatoon                             (306) 933-2929

David Stobbe / Stobbephoto.ca

Jayson Elenko, Managing Partner, Regina                            (306) 664-6116 

 

 

 

 

 

 

 

 

 

 

How long has ICR Commercial/CORFAC International been in the industry? Ashford Realty was founded in 1986 by the three founding partners. In 1993 the Ashford name transitioned to ICR Commercial Real Estate. ICR has a strict non-compete policy which prohibits its agents from owning commercial property within the agent’s primary market. In 2016 the company was purchased by eight long-time employees who continue to operate under the ICR/CORFAC International brand.

Who are your most notable clients and what do you do for them?

Cameco Corporation – Office and industrial sales and leasing
Cara Food Group – Retail leasing
McDonald’s – Retail leasing
Burger King – Retail leasing
Triovest – Retail and office leasing
Dream Office Management – Office and retail leasing
Matrix Equities – Industrial and retail leasing

What were your most notable transactions of the past year?

Largest Industrial Land Sale – $10.8 million, approximately 23 acres, land was purchased by Matrix Equities Inc. in order to build the next phase of the Matrix Business Park, which will consist of an additional 400,000 SF.

Largest Office Deal – Sale of Saskatoon Square, a 228,780 SF office building for $50 million

Largest Retail Deal – Sale of Confederation Mall, a 329,128 SF enclosed mall for $27 million

Largest Industrial Deal – Sale of North 48, a 265,000 SF industrial complex for $18.2 million

What makes your firm a go-to solution for clients in your market? ICR is an industry leader within the province of Saskatchewan. We provide our clients with the market data of a national company with the in-depth expertise and knowledge of the Saskatchewan marketplace. We like to point out to our clients that we do not have doors on our offices. This fact demonstrates the collaborative approach our 24-agent team applies to assignments.

What do you value about your CORFAC membership and why do you stay affiliated with the network? Access to a worldwide network of professional brokers who we trust. Attending the semi-annual CORFAC conferences keep us informed of the latest industry trends and provide us with the opportunity to brainstorm solutions to industry challenges.

What would you like CORFAC members to know about your firm? We believe our culture is somewhat unique within our industry. We have three separate brokerage offices that collaborate well with each other rather than compete with each other.

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Unmatched Market Expertise: Patterson-Woods Commercial Properties/CORFAC International

www.pattersonwoods.com

Core property segments and services: We provide services for the sale, lease, exchange, appraisal and management of office, retail, industrial, land and investment properties. We also handle a lot of retail and business brokerage and are experts in restaurant sales.

Market areas served: Mid-Atlantic Region, including all of Delaware, Eastern Maryland and Southeastern Pennsylvania.

Member of CORFAC since: 2003

Key Principals: 

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W. Duncan Patterson, CCIM President                              (302) 622-3511 

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Greg Ellis, CCIM,         Managing Principal            (302) 622-3534

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Joe Latina                       Principal & Member of CORFAC Executive Committee (302) 622-3512

How long has Patterson-Woods Commercial Properties/CORFAC International been in business? Principals in our firm have been practicing commercial real estate since 1961. Patterson-Woods emerged from the largest and most successful residential real estate company in the region – Patterson-Schwartz Real Estate – in 1997.

In addition to real estate brokerage, we are home to the leading business brokerage and business transfer specialists in the sale and appraisal of small-to-medium sized, closely held businesses in the Mid-Atlantic. We have considerable expertise in restaurants and bar businesses.

Who are some of your most notable clients? How do you serve them? The majority of our business originates from companies with a strong regional presence, such as First Mariner Bank, Horizon Services, Marlette Funding d/b/a Best Egg, Tipton Communications, Charles Schwab and Bay National Bank.

We have also represented several prominent retailers, including Simon Eye Associates, Calico Corners and restaurant retail chains including Dunkin Donuts, IHOP Restaurants, McDonald’s and Wendy’s.

We have also worked with several influential local developers, including Medori Enterprises, Capano Development and Buccini Pollin Group.

What was your most notable transaction during the past year? In 2015, our most notable transaction was the sale of a 455,000 square foot, 36 acre office complex turned school campus. The buyer, which we represented, purchased the property for $25 million. The purchase was financed through $34 million in bonds issued by the Delaware Economic Development Office (DEDO).

What makes your firm the go-to solution for clients? What do you do better than anyone else in your market? We are the largest local commercial real estate firm in Delaware and our marketplace expertise is equally matched by our impeccable reputation and connection with the communities we proudly serve.

What do you value most about your CORFAC membership? And why do you stay affiliated with the network? Being a member of CORFAC enables us to position our company as a locally based, yet nationally and internationally connected firm. Being active with CORFAC provides us with the opportunity to stay on the pulse of commercial real estate worldwide, form valuable relationships with professionals outside of our market and learn best practices from similar real estate companies.

What’s the most important thing about your firm that you’d like to share with other members? We have the most qualified and enthusiastic agents in this market with a tremendous work ethic. We find solutions for our clients due to our years of experience and our professional connections.

 

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All Clients Are Treated Like No. 1: Piedmont Properties of the Carolinas/CORFAC International

 

 www.piedmontproperties.com

Core property segments and services: We serve the “major food groups” of commercial real estate – office, retail and industrial as well as land with approximately 75% landlord/owner rep and 25% buyer/tenant rep. Piedmont has a limited property management division for select clients and also develop/redevelop several projects per year.

Market areas served: The Charlotte Region as defined by www.CharlotteUSA.com, which includes not only Charlotte, North Carolina, but several cities in upstate South Carolina including Rock Hill and Fort Mill.

Member of CORFAC since: 1998

Key Principals: 

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Lester E. Osborn, CCIM, SIOR Principal                                        704-375-1101                     losborn@piedmontproperties.com

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A. Scott Hensley, CCIM, SIOR Principal                                        704-375-1164 shensley@piedmontproperties.com

 

How long has Piedmont Properties of the Carolinas/CORFAC International been in business? Piedmont Properties was founded in 1993 and we pride ourselves on treating each client with the same amount of dedication and care regardless of the deal size. If one of our brokers accepts an assignment, we expect that broker to treat them as if it was their No. 1 client. With six brokers we are a boutique firm, but with an average of 23 years of experience we are confident we have the experience, knowledge and resources to successfully complete any assignment.

Who are some of your most notable clients? How do you serve them? 

Britax Child Safety – 500,000 SF BTS for US Corporate HQ, distribution and assembly

Sunbelt Equipment Rental – Tenant Rep

XPO Logistics – Tenant Rep

Best Tile – Tenant Rep

Public Storage – Site Selection

American Expediating

Napa Auto Parts – Site Selection

Advance Auto Parts – Site Selection

Goddard School – Site Selection

What were a few of your most notable transactions during the past year? Our most notable transaction in 2015 actually involved two transactions and three clients.

While not the largest dollar volume of the year, Noda Brewery is one of the most successful craft breweries in the SE and Frank McCleneghan has represented them since they began in 2011. Due to their success and need to increase production, they asked Frank in early 2014 to help them locate a larger facility. After searching for nearly a year without any success, they considered relocating from Charlotte and building a new property.

At the same time, Jim Plyler had a unique 32,000 industrial building — an old vinegar factory constructed in 1939 in a challenging industrial area. Frank initially presented this option to his client on paper, but couldn’t get them interested enough to take a tour. After a lot of encouragement and respect for Frank’s opinion, the owners reluctantly agreed to a quick tour.

The end result: Noda Brewery recently opened a new brew house and tap room in the building, investing more than $4 million in equipment and creating numerous jobs. The brewery has become a catalyst for more redevelopment in an otherwise challenging location. As for the second transaction and third client, Noda decided it did not want to tie up capital in real estate so Frank took the opportunity to an investor who purchased the property and negotiated a long-term lease.

What makes your firm the go-to solution for clients? What do you do better than anyone else in your market? Our experience, local market knowledge, local contacts and creative approach to solving clients’ problems separates us from our competition.

What do you value most about your CORFAC membership? And why do you stay affiliated with the network? We find other CORFAC firms are similar to Piedmont in nature with an entrepreneurial zest and they value the personal relationships between member firms.  It is important when conducting business in other cities to not only have a name and number for your client, but with CORFAC it is likely we have a personal relationship with one or more principals from that office. It is comforting when a client asks me about assistance in another market that I can immediately name a specific individual my client is likely to work with.

What’s the most important thing about your firm that you’d like to share with other members? If there is a CORAC requirement in our market, we first make sure Piedmont is the best provider for your client. If not, we find the right firm for you to partner with. If it is an assignment we accept, you have our word your client will be treated as if it is our best client regardless of the size of the deal.

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Enhancing Value for Clients: Global PMC/CORFAC International

www.globalpmc.com

Core property segments and services: Focus on office and retail sales and leasing, full range of brokerage services including office, retail, industrial investment, lease administration and property management and consulting.

Market areas served: Seoul, South Korea, Metropolitan Area and other major metropolitan cities including Daejeon, Busan, and Daegu, South Korea.

Member of CORFAC since: 2015

Key Principal: 

Yong Nam Kim

Yong Nam Kim, CCIM, CPM     +82-10-3382-8639 ynkim@globalpmc.com

 

 

 

 

 

 

 

 

 

 

How long has Global PMC/CORFAC International been in business? Global PMC Inc. offers a full range of services in the office, retail and industrial sectors, including acquisition, property management, leasing and disposition since 2004. We have 6 brokers, 20 property managers, 5 staff members and 90 facility maintenance personnel. We are the recognized leader in the asset management of small and medium-sized properties, which are mostly owned by high net-worth individuals.

Who are some of your most notable clients? How do you serve them? Most of our clients are high net-worth individuals and asset management companies like Koramco Asset Management Co., Golden Bridge Asset Management Co. and South Korea’s leading banks such as KB Kookmin Bank, Shinhan Bank, Woori Bank and Industrial Bank of Korea.

What was your most notable transaction during the past year? The sale of the 43,310-square-foot SH Tower office building, located in Seoul, to a high net-worth individual for $22 million. We have managed SH Tower for him since 2010. We represented the seller and the buyer in the transaction.

What makes your firm the go-to solution for clients? What do you do better than anyone else in your market? It is our expertise in creating and enhancing value for clients. As the leader in the asset management of small and medium-scaled buildings, we provide high net-worth clients with a full range of services from acquisition to management to sale.

What do you value most about your CORFAC membership? And why do you stay affiliated with the network? The opportunity to network with CORFAC members and expand our reach to offer multi-market solutions to clients.

What’s the most important thing about your firm that you’d like to share with other members? We are committed to delivering high-quality service to our clients. Our mission is to provide real estate investors and users with trustworthy services and contribute to improving the quality of their lives. We value customer focus, trust, learning, and innovation.

Read a recent CCIM Institute interview with Mr. Kim, who is currently serving as the Seoul, South Korea, CCIM Chapter President.

 

 

 

 

 

 

 

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