Division of NAI Robert Lynn Completes Trade of Complex TIC-Owned Property

Jan. 21, 2013 - PRLog -- The NAI Global Investment Services Group (ISG), a division of NAI Robert Lynn (http://www.robertlynn.com/OurServices/tabid/3566/Default.aspx) , recently arranged the sale of a 67,146-square-foot single tenant office space to Florida-based, Siemens Enterprise Communications as part of Siemens AG and Siemens North America. NAI Global ISG Senior Vice President, Steve Wolff, and Division President, Tim Feagans, represented the owner, Daymark Realty Advisors who represent the Tenant in Common (TIC) entity, NNN Corporate Court, LLC. The office is located at 1630 Corporate Court in Irving, Texas.

The Las Colinas building is a solid income property and excellent location for Siemens’ business practice. The complex deal took a lengthy nine months to complete with a deadline of Dec. 1 to avoid prepayment penalties. Although it was a multifaceted deal, the NAI Global ISG team engineered the right solutions from start to finish to close the deal shortly before deadline.

TIC-owned properties are becoming few and far between in today’s market, but are still complicated deals to manage. In this case, NNN Corporate Court, LLC included 12 owners with a sale incentive to dismantle the TIC entity. NAI Robert Lynn brokers are willing and prepared to take on difficult deals such as this, anticipating positive outcomes for clients. Additionally, the full-service company recently recorded its best year ever in 2012 for sales and transactions.  

“The success in closing this complex transaction is the direct result of a collaborative and persistent effort by our NAI Global ISG team, seller and buyer,” said Feagans. “It required patience and savvy negotiations while dealing with multiple parties and unforeseen issues beyond our control.”

The NAI Global Investment Services Group is a division of NAI Robert Lynn and is comprised of a senior team of national investment brokers based in Dallas. The team operates under the umbrella of the NAI Global platform through the NAI Global worldwide network and currently has close to 3 million square feet on the market across the country. The division is actively recruiting investment specialists. For more information contact, Tim Feagans at (214) 256-7100 or visit www.isg.naidallas.com.

About NAI Robert Lynn

NAI Robert Lynn specializes in providing commercial brokerage and consulting services including tenant representation and owner representation for office, industrial and retail properties, property management, investment sales and purchases.  The company has been ranked in the top 5 of the Costar ranking of Dallas/Fort Worth (DFW) brokerage firms based on commercial square footage leased every year since the rankings began.  NAI Robert Lynn has been providing its clients with superior service and market knowledge of the DFW area for 50 years.  This is evidenced by the 2011 results closing 635 transactions totaling over 17 million square feet, and managing over 6.5 million square feet of commercial properties.  To learn more, visit www.robertlynn.com.

About NAI Global        

NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 325 offices in over 55 countries, and completes over $45 billion in annual transaction volume. Since 1978, NAI Global clients have built their businesses on the power of NAI’s expanding network. NAI Global’s extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. To learn more, visit www.naiglobal.com.