HomeMy WebLinkAboutNAI Landmark Request For Qualifications North ParkStatement of Qualifications
City of Bozeman Potential Sale of “North Park”
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Table of
Contents
Section 01
Contact Information
Section 02
Statement of experience and qualifications of the individual
Section 03
Firm’s experience with high visibility commercial sales
of developable, zoned industrial and/or for manufacturing, high value raw property suitable for specific needs
Section 04
Demonstrated familiarity with the City of Bozeman’s
UDC
Section 05
Demonstrated familiarity with commercial site selection processes
Section 06
Marketing approach
Section 07
Expectations or responsibilities of the City
as a client in order to complete a successful sale
Section 08
Proof of state licensure
Section 09
Proposed commission costs
Section 10
Timeline of sale
Section 11
Firm’s
last three sales involving unimproved property (raw property) within City limits and which was zoned for manufacturing and/or other industrial uses and at least one example of the
sale of commercial/industrial property valued at, or in excess of, one million dollars ($1,000,000.00).
Section 12
Professional References
Section 13
Promotional materials
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Section 01
The Asset
NAI Landmark Real Estate
1811 W. Dickerson #17
Bozeman, MT 59715
Phone: 406-556-5005
Fax: 406-586-4946
Web: www.nailandmark.com
Principal Broker: Robyn Erlenbush
Robyn.Erlenbush@nailandmark.com
NAI
Business Director: Steve Olson
Steve.Olson@nailandmark.com
North Park Project Team Lead: Jason Leep
Jason.Leep@nailandmark.com
406-556-5072
North Park Project Financial Analyst: Chris
Pope
Chris.Pope@nailandmark.com
Associates:
Ryan Springer
Kasey Harte
Rick Ojala
1. Contact Information
1. Individual or firm’s legal name, address, telephone number, fax number, web site (if any), and e-mail address
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2. Statement of experience and qualifications of the individual, firm and firm’s staff which will be assigned to the sale. CCIM or equivalent commercial sales experience preferred.
NAI Landmark is a full-service commercial real estate serving Southwest Montana with a high degree of competency in commercial leasing and sales of office, retail, industrial, land,
and investment properties.
NAI Landmark’s commercial real estate agents experience and credentials qualify them in all areas of commercial real estate, from 1031 tax-deferred exchanges
to tenant representation, sale-leasebacks, business brokerage, building disposition and acquisition, land brokerage, development consulting and portfolio management.
With support from
NAI Global, the world’s largest global network of commercial real estate offices, NAI Landmark is uniquely positioned to represent North Park across the state, the region, the nation,
and around the globe. The NAI Global network is made up of over 350 full services offices throughout the United States and is represented in several countries. NAI Global’s information
sharing technology platform puts the details of the North Park project in the hands of over 5,000 commercial agents instantly.
The unique opportunity that North Park represents will
require a team of knowledgeable and dedicated commercial real estate professionals versed in all aspects of the commercial transaction. NAI Landmark is the only dedicated Commercial
Real Estate Firm in Southwest Montana that can offer the exact scope of expertise that this project will require.
Qualifications
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Jason will serve as the NAI Team Leader and as the single point of contact for the City of Bozeman and will direct the NAI Member Team.
Jason, a Bozeman native, has been involved in
real estate planning, design, construction and sales for the last sixteen years, in and around Bozeman proper. Jason’s area of expertise and experience encompass the following:
Team Lead: Jason Leep
Team Lead
Purchase of properties through direct purchase, option, or land contract
Development of long term master plans and financial proformas
Preparation of financial data to acquire necessary
long term financing
Overseeing appropriate trades and professionals to acquire technical approvals
Preparation and submittal of various land planning permits to city or county
governmental agencies and/or departments
- Development of Covenants Conditions and Restriction and Design Criteria - Oral and graphic presentation of projects to governing
bodies - Oversight and management of construction budgets
Development of marketing budgets and materials
Oversight of marketing agenda and personnel
Jason has been directly involved
with a development team that produced over 2000 residential and commercial properties in and around Bozeman and Belgrade from 1997 to now.
In 2010 Jason joined the NAI Landmark Team.
His area of focus has been aiding various financial institutions in their management/disposition of REO portfolios (Real Estate Owned) of land and buildings that became lender owned
during the economic downturn. Jason, as a Team Leader or an individual agent has successfully worked with the following institutions:
-Bank of Bozeman -First Interstate Bank-Billings
-Stockman Bank -Treasure State Bank
-First Security Bank -Glacier Bancorp
-Big Sky Western Bank -Bozeman School District 7
-Sky
Federal Credit Union -Bozeman Christian Center
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Steve will serve as a Transactional Expert for the North Park Team. His experience in crafting and negotiating project specific solutions to sophisticated real estate transactions
will be necessary for this unique opportunity.
Steve Olson has been a licensed real estate agent since 1971. After relocating to Bozeman from San Francisco in 1994, he began with
ERA Landmark Commercial Real Estate. Steve was a Top 5 Producer while at Pacific Union Commercial Brokerage in San Francisco in the representation of corporate clients in the financial
district., ERA has recognized Steve’s success with Sales and Listing Awards. He also received the President’s Leadership Award from The Winn Corporation. Steve specializes in commercial
property, sales, leasing and development.
NAI Business Director: Steve Olson
Team Lead
NAI CCIM Member: Chris Pope
Chris will serve as the Financial Analyst for the North Park Project.
Chris Pope is a Certified Commercial Investment Member (CCIM) designee with over 15 years of experience in Commercial
Real Estate services in Southwest Montana. Chris brings a specific knowledge of investment portfolio analysis, discounted cashflow valuation and lease negotiation and analysis. His familiarity
with business valuation and operation, and his leadership in the Southwestern Montana community gives Chris a unique view of future opportunities in the market.
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Ryan will serve as an additional resource for the team.
Ryan Springer has eight years of commercial real estate experience. Ryan has been involved on both sides of investment transactions
involving hotels, retail, multi-family and office properties. Additionally, Ryan has experience in Low Income Tax Credit Housing (LIHTC) development. Ryan, a native of Bozeman, has strong
ties to the local community and relationships throughout the state of Montana.
NAI Associate: Ryan Springer
Team Lead
NAI Associate: Kasey Harte
Kasey will serve as an additional resource for the team.
Kasey Harte is a NAI Landmark agent with over 10 years of commercial real estate experience representing Buyers, Seller, Landlords
and Tenants; as well as project developments. He has strong family business background in commercial leasing, hotels, restaurants, casinos, convenience stores, retail business as well
as land and commercial development. He owns and manages commercial property, has several partnerships in commercial land and building developments around the state and is continually
expanding his portfolio.
NAI Associate: Rick Ojala
Rick will serve as an additional resource for the team.
Rick’s Background includes a 37-year healthcare management career including all levels of healthcare from acute care to skilled
nursing care. This offered Rick the opportunity to gain valuable experience in operational analysis, acquisition and disposition of healthcare facilities, development of new projects,
construction management of larger projects, rental and leasing of senior housing units, asset management of these units and marketing these units to maximize occupancy. Rick’s most recent
experience also included development of a new 55-and-better housing development in which he was involved with the development, marketing, sales and property management.
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Robyn joined the sales staff of ERA Landmark Real Estate in 1982, working in sales and management positions until purchasing the company in October 1990. Erlenbush actively manages the
business and brokerage concerns of her company. ERA Landmark Real Estate, with offices in Bozeman, Big Sky, Livingston and Clyde Park has 48 full-time real estate professionals who specialize
in all aspects of real estate.
The company has maintained a premiere status in the marketplace for over a quarter of a century. In February 2002, the company established a commercial
division and branded the division NAI Landmark in September 2008. Erlenbush acquired Intermountain Property Management and MontanaVacation.com in October of 2003. In March 2004, ERA
Landmark acquired Western Land Office in Livingston and Clyde Park.
Principal Broker: Robyn Erlenbush
Team Lead
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NAI Landmark has been directly involved in several high visibility, high value manufacturing and industrial sales in the recent past. These transactions include:
3. A description of the individual or firm’s experience with high visibility commercial sales of developable, zoned industrial and/or for manufacturing, high value raw property suitable
for specific needs
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More Experience
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4. Demonstrated familiarity with the City of Bozeman’s Unified Development Code
As a result of Jason Leep’s direct involvement developing various properties in and around Bozeman, he has become well versed in the Unified Development Code. He has successfully completed
applications to the City of Bozeman including, but not limited to Pre-applications, preliminary plats, final plats, zone map amendments, community plan designation changes, and annexations.
In addition, Jason was the lead preparer of the Bozeman Deaconess Sub Area Plan that was adopted by the City of Bozeman. This highly visible and locally sensitive development includes
long range plans for health care facility expansion, commercial uses, a variety of housing styles and densities, along with a complete park and recreation plan.
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5. Demonstrated familiarity commercial site selection processes
Through our relationship with NAI Global, NAI Landmark has access to proprietary demographic information and site selection processes. In addition, through the NAI Industrial Council,
NAI Landmark will be able to seamlessly communicate with hundreds of NAI agents across the nation that are SIOR (Society of Industrial and Office Realtors) designated agents. The NAI
Industrial Council provides a platform to penetrate trade associations in order to generate greater interest in the property. When we locate a buyer that has specific uses or end
users in mind, NAI Landmark will be able to access the tools and people that will help achieve the sale of the property.
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The marketing of the project will be extensive and will utilize NAI’s national network of agencies to expose the property in a way that is unique to NAI Landmark. Please refer to response
13 to see more information about NAI’s national network.
In addition to exposing the project to all 350 offices in North America, NAI Landmark will:
Install extensive site signage along all traffic corridors.
Publish advertisements in regional
real estate magazines including Bakken Journal, and Site Selector.
List the property on the local MLS database and LoopNet
Jason Leep will travel to targeted markets which may include
Missoula, Billings, Great Falls, Butte, Boise, Salt Lake, and Spokane to meet with leading commercial brokers in those markets and present the property master plan and contract terms
that would be acceptable to the City.
Send property marketing packages to NAI regional offices
Utilize NAI Global’s extensive networking group to communicate this opportunity through
a global email list.
Internet Advertising through NAI Global’s resources as well as our local website
Use of CCIM (Certified Commercial Investment Member) by marketing to the members
through Chris Pope’s CCIM designation.
Use of SIOR (Society of Industrial and Office Retailers) by marketing to NAI’s Industrial Council. If appropriate, have property information available
at SIOR trade show in Chicago, October 2013
Local Experts. Global Resources
Marketing Approach
6. A detailed description of all facets of the proposed plan to actively advertise and market the property and documentation of the promotional and or financial resources available to
the individual or firm to carry out this strategic marketing and advertising plan at a local, regional and national level
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Expectations of the City of Bozeman as a client
The City is in a very unique position in its ownership of the North Park Property. The City is not only the owner, but also the main entity that has authority to control many of the
variables that will impact the outcome for an eventual buyer. At the same time, an entire community that is deeply affected by the rise and fall of real estate values will be watching
the City’s decisions/actions. In this regard, the City will need to demonstrate clearly that the North Park project is being held to the same standard as any development.
With the
above scenario as the backdrop, the project will need to demonstrate industry acceptable rates of return in order to attract a competent and capable buyer. Given the amount of upfront
infrastructure that will most likely be required, it will be imperative that the sale be flexible in its terms of payment. So to summarize, the City will need to apply the regulations
in its normal review of the development. The normal application of those regulations will require expensive infrastructure items which may be detrimental to the viability of the project.
The viability may need to be mitigated by flexibility in the application of any terms to the sale.
Other responsibilities include:
Timely responses to requests for information
One
main point of contact for the NAI team leader to work with
Disclosure to all qualified buyers of all material facts concerning the property.
Open to discussing favorable terms with buyers
Help
coordinate with state agencies
Successful
Sale
7. A narrative describing the expectations or responsibilities of the City as a client in order to complete a successful sale
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8. Proof of state licensure requirement to sell property in the state of Montana
Robyn Erlenbush – Principal Broker #1052
Jason Leep: #17318
Steve Olson: #9406
Chris Pope: #12921
Ryan Springer: #16647
Kasey Harte: #11508
Rick Ojala: #16715
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9. Proposed commission costs for the sale and description of any and all costs that will be paid by the City in order to complete the sale
NAI Landmark will require a 8% commission structure. NAI will pay any cooperating buyer agent brokers a 3.25% commission fee in order to commensurate with national commercial firms.
Other
expenses that the City should expect are Title Insurance and standard closing fees like deed preparation, recording fees etc. NAI estimates these fees to not exceed 0.5% of the sales
price.
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NAI Landmark’s marketing staff expects that it will take approximately three months to fully prepare the marketing materials. Full exposure of North Park to the local, regional, and
national market will progress in a timed manner so as not to overexpose the project but to keep information flowing over the course of several months. Trying to predict the timeline
for a successful sale is more difficult, but it would be the desire of the NAI Landmark Team to secure an initial listing period of two years with two renewal options of one year.
Once
qualified buyers are located and offers can be reviewed, NAI would expect there to be a 3% earnest money deposit - refundable through the contingency periods. Standard contingencies
that could be expected are: Appraisal, Phase 1 Environmental Report, ALTA survey, Seller Property Disclosure, General Property Investigation, Financing.
Additional conditions to the
sale will most likely include: Satisfactory preliminary plat conditions of approval, Satisfactory long term lease on the State grounds.
As discussed in response #7, the City should
be ready to discuss a long term contract with the Buyer whereby there is an initial closing and progress/release payments are made as the developer works through various phases. If
the developer does not follow through on an agreed schedule (that allows for some flexibility, but does not allow for neglect) then the remaining properties would be returned to the
City. If that scenario were to occur, the City would have entitled property (probably with some infrastructure installed) to re-sell rather than “raw” land as it has now.
The City
could expect the initial closing to take place at approximately 1 year after the effective date of the agreement. This time frame should be sufficient for the Buyer to gain the necessary
entitlements.
The contract should include language that makes it clear to the buyer that the property is being sold as is/where is and that it is the Buyers responsibility to perform
all due diligence and draw its own conclusions from the results of the investigations.
Timeline For Sale
10. A proposed time line for the sale and proposed contract terms for the selling of the Property
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11. A list of the individual or firm’s last three sales involving unimproved property (raw property) within City limits and which was zoned for manufacturing and/or other industrial
uses and at least one example of the sale of commercial/industrial property valued at, or in excess of, one million dollars ($1,000,000.00). Include for each property: the list price
of the property; the sale price of the property; the length of time the property was on the market; and any unique aspects or other information relevant to each sale
Relevant Industrial/Manufacturin
g sales of both buildings and raw land that are in excess of $1,000,000 are included in response #3.
Additional “raw” land sales in the City limits include the following:
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We are at all times protective of our client’s time and desire for confidentiality. Our customers have given us permission to provide you names with the understanding we would schedule
calls as required.
First Interstate Bank
Bruce Parker, Senior VP
406-255-5262
bruce.parker@fib.com
PO Box 30918
Billings MT 59116
2. Bank of Bozeman
Mark Gannon
406-587-9383
mgannon@bankofbozeman.com
875 Harmon Stream Blvd.
Bozeman, MT 59718
3. Bozeman School District
Steve Johnson
406-522-6042
steve.johnson@bsd7.org
12. References
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13. Please review our promotional materials
Thank you for your consideration
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NAI Global is
strategic &
innovative.
We are an international real estate services organization with the institutional strength of one of the world’s leading property investment companies.
Our experts are strategic and
innovative, working collaboratively to realize maximum potential and generate creative solutions for our clients worldwide.
Our collaborative services platform provides an expansive,
yet nimble and responsive structure enabling us to efficiently deliver superior results.
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