Ohio CCIM Chapter Newsletter | Fourth Quarter 2020

NEWSLETTER

Fourth Quarter 2020

President's Message

As I sit down to write my final newsletter serving as the Ohio CCIM Chapter President, I can’t help but think – “2020 will be a year I will never forget”. There is no secret we are living in an extremely challenging and uncertain environment. This virus has wreaked havoc on families all over the world so please do everything you can to show compassion and help someone in need. Our medical professionals and first responders need all the prayers and help they can get. There is nothing I can put in words to express my true gratitude to each and every person tasked with helping the sick during this Pandemic. THANK YOU. You are all heroes.

With all the uncertainty we face, it is important to remember that this too will pass. We will get through this!

We still continue to hold off any in-person courses, nor do we have any scheduled in the near future, but we continue to offer many opportunities to stay engaged with CCIM. You can access the global CCIM platform online at any time from your own home. Our many great tools include, but are certainly not limited to, the several resources on the Site to do Business page, taking an online refresher course, or using the Find A CCIM database to reach an expert in your area of need.

I want to make special mention to all 2020 sponsors as they give us the ability to bring all of our members great events, classes, and other resources – even in these uncertain times. Please take note of all sponsors listed in this newsletter as they are a very reputable group with a lot of value to offer!

As always, I would like to extend a personal invitation if you are interested in getting more involved. Call me anytime at 419-345-4460 or email me at paul@kwapichrealestate.com.

Sincerely,

Paul Kwapich, CCIM

Kwapich Real Estate Companies

2020 Ohio CCIM Chapter President

Attention Ohio CCIM Chapter Members

Renew your Chapter Dues before December 31, 2020 and Receive a FREE Class!

The Board of Directors is pleased to offer members this new benefit! Renew your Chapter membership dues by December 31, 2020 and sign up to receive the virtual class noted below with instructor, Alec Pacella, President NAI Pleasant Valley.

Thursday, January 14, 2021 at 2:00 p.m.

How COVID-19 Impacts the Numbers

Pricing an investment real estate property for disposition is more difficult than ever before. Learn a framework for determining the impact of COVID-19 on pricing before your next sale.

RSVP to the CCIM Ohio Chapter office

CCIM Institute’s Governmental Affairs Committee

– Highlights of November 18, 2020 Meeting:

Additional COVID-19 package will not happen during lame duck, expect a new package after the new administration is in place.
As talks of another shutdown continue to loom, NAR is pushing to keep Real Estate essential.
Eviction Moratorium expires end of December and NAR supporting 2 lawsuits against it and also pushing for local municipalities to use the extra CARES Act money for landlord assistance.
As recovery occurs in 202 there are concerns about states/cities going after low hanging fruit (real estate, taxes, etc.) to replace lost income sources.
Assuming Republicans keep the Senate, the expectation is that nothing major (tax changes, healthcare, etc.) gets done and status quo continues.

Shad Phipps, SIOR, CCIM

Phipps Realty Advisors

Shad@PhippsRA.com

614-570-4221

Tony Yacoub, CCIM, OhioCommercial Real Estate closed on 175 East Main St. New Albany Ohio (The Old Noah's Event Venue) with a CCIM brother Allen Faires. Transaction total: $2,100,000. Seller: TIC group. Buyer: Infinite Church.

It is always great to have a strong end of year deal.

In negotiations on a $3.5mm, 75-unit Multi-Family apartment complex, the buyer was stuck at a lower price than the seller would accept. By using the CCIM financial analysis tools, we proved to the buyer and his financier that the price was more than reasonable, but a great deal, considering the increases in rental income etc. The deal would have died if we did not have the CCIM tools...

We get a double dip commission on this one as well.

– Jim Reckers, CCIM • Equity

Richard G. Bialosky, CCIM, The King Group represented Akron Children’s Hospital on a build-to-suit 20-year lease for a 23,000 SF one-story MOB in Amherst, Ohio. The subject property is on an approximate 4.31-acre parcel on the south side of Cooper Foster Rd fronting Rt 2 just west of the Oak Point Interchange. This medical facility will be utilized for multi-specialty pediatric medical services. Please note that this was an extremely difficult transaction to complete due to the healthcare systems being overwhelmed during the COVID-19 pandemic.

A 5-acre parcel of investment land that had been listed for two years, was under contract to be sold to a mom & pop investor. During the due diligence period, a national developer made an offer at a higher price... The buyer closed on the land on Friday, re-listed it on Monday morning and had an accepted PSA within one hour. The mom & pop investor clears $125,000... I receive two double dip commissions and another one pending on the replacement land acquisition. The one hour from listing to accepted offer, set a record for me...

The takeaway is: it is not a good idea to publish "under contract" on your listings.

– Jim Reckers, CCIM • Equity

Wayne Harer, NEWMARK Represented Hahn, Loeser, Parks LLP for a new 15 year lease for 22,363 RSF at Capital Square (65 E. state st.) top floors with out door patio.

Have you done a deal with another CCIM? If so, let us know to be featured in a future newsletter! [email]

Candidate's Corner

While the year is coming to an end, the impact of COVID19 unfortunately is not. The Ohio CCIM Chapter intends to resume in-person classes at some point in 2021 but we simply do not know when. The safety of all is paramount, so for now, we are taking this a day at a time. The full course curriculum continues to be offered in both traditional online and virtual online formats and many have elected to go this route, including our three most recent designees that successfully completed their designation requirements this year. If you are considering taking the exam in early 2021, you will need to have your portfolio submitted by January 15, 2021 and the deadline to register for the comprehensive exam is March 19, 2021. Although as of now, the exam is scheduled to occur April 22, 2021 in New Orleans, both of the exam events this past year were modified and held at multiple testing sites around the country instead of one location as originally scheduled. We will keep everyone notified as new information becomes available. Should you have any questions, do not hesitate to contact Alec Pacella, CCIM.

Our Newest CCIM Designees

Congratulations to our new Designees who were among the 133 industry professionals who earned the CCIM designation during the organization’s fall CCIM Comprehensive Exam testing session, which was held across 14 locations in the United States. To ensure the safety of candidates, instructors, and exam proctors alike, current recommended safety protocols were used throughout Course Concepts Review sessions and the exam itself.

Christopher Jones, CCIM

Sr. CRE Portfolio Manager

WesBanco Bank, Inc.

Westerville, Ohio

Sloane Nichols, CCIM

Senior Vice President

Equity LLC

Cincinnati, Ohio

Upcoming Events

Thursday, January 14, 2021 at 2:00 p.m. | Virtual (RSVP to CCIM Ohio)

How COVID-19 Impacts the Numbers

Pricing an investment real estate property for disposition is more difficult than ever before. Learn a framework for determining the impact of COVID-19 on pricing before your next sale.

April 19-23 – 2021 Midyear Governance | New Orleans, LA (Details)

October 7-11 – 2021 Annual Governance Meetings | Pittsburgh, PA (Details)

For up-to-date information and registration links, visit ccimconnect.com/ccimohio.

My Account Portal

CCIM Institute has launched a new account portal, and your username email may need to be updated. Even if there are no changes to your email, please enter your preferred email under "Update My Username" in My Profile (first log into CCIM.com, and then choose My Account).

In the My Profile portal you can keep your contact information up-to-date and manage your account settings including:

Contact Information
Photo, Logo, and Website
Specializations & Property Types
Market Areas
Biography
Education
CE License & Additional Info

If you have questions along the way, give CCIM a call at (312) 321-4460.

The Ohio CCIM Board of Directors is pleased to offer complimentary 2021 renewal to current sponsors due to the 2020 pandemic. Should you choose to increase your sponsorship level in 2021, only pay the difference in current versus new sponsorship level! NEW sponsors are welcome too, contact the CCIM Ohio Chapter office for details.