Gilkerson passed the class with a 96% on the final examination. He is required to complete 4 additional week-long classes to satisfy the education requirements for the CCIM designation. Other requirements include the approval of a candidate’s portfolio of qualifying experience and a comprehensive final examination. Gilkerson credits his success thus far to both the financial and investment knowledge gained at Salisbury University and the hands-on real estate experience gained in the past 3 years at Sperry Van Ness.

The class was hosted at the new LEED-Certified (Silver) National Association of Realtor Building downtown Washington, DC and contained a mixture of all professions related to the Commercial Real Estate industry, such as bankers, Realtors, appraisers, and developers. The class focused on basic principles of commercial investment real estate, such as calculating returns and valuating property based on those returns.

Salisbury Mayor Jim Ireton talks to Andrea Hamilton (AI&G), Rick Tilghman, CCIM (Sperry Van Ness), and Therese Hamilton (SWAC) about new life downtown, and what’s in store for this Third Friday!

We recently sold this property to a doctor who will be using 8,000 sq ft of the 10,000. We have 2,000 sq ft available for lease. the building sold for $62 PSF, when comparables are going for as much as $130 PSF. This was a great buy for the buyer and there are many other deals out there like this one. contact us for leasing or purchase information!

SALISBURY, MD, FEBRUARY 2012 -  Advisor Joey Gilkerson of The Gillis Team of Sperry Van Ness – Miller Commercial Real Estate closed a 5-year deal downtown Salisbury. The Tenant, White Flint Recovery, has relocated to 130 E Main Street this month. White Flint Recovery is in the Health and Human Services industry; DUI treatment and recovery is their specialty.

The property, listed by The Hanna Team, sat vacant for only one week before a lease was produced. Gilkerson commented, “Leasing space downtown [Salisbury] in less than a month is uncommon to say the least. I am a major proponent of downtown Salisbury, but there are a high number of vacancies and a low number of users. I personally own property downtown that has been partially vacant for several months. However, 130 East Main Street was a perfect fit for this user. Timing is essential!”

The space White Flint Recovery is occupying is approximately 1,800 SF of first floor office space. The space features individual offices, open space, and a large conference room, as well as on-site parking. The space was leased in the +/- $12 PSF range which includes building amenities and electric.

ABC Supply Company’s 30,240 square foot former flex industrial building at 828 Fieldcrest Dr. in Cambridge, MD has sold to Triple Ventures, LLC for $1.5 million.

Henry H. Hanna, CCIM, SIOR, National Director of Industrial Property, with Sperry Van Ness-Miller Commercial Real Estate in Salisbury, MD brokered this transaction in a joint effort with the Economic Development Divisions of the State of Maryland, Dorchester County and Cambridge, MD.

Triple Ventures, LLC will use the site for bottling, packaging and distributing the fruit beverage Fruit Wave H20.

Fruit Wave H20 is available in a variety of flavors including cherry, grape, mango, green apple, orange, kiwi/strawberry and kiwi/watermelon.

CONTACT

Tamara Lee-Brooks

Public Information Officer

Wicomico County, MD

410-548-4801

tleebrooks@wicomicocounty.org

COUNTY EXECUTIVE APPOINTS NEW DIRECTOR OF ADMINISTRATION

Salisbury, MD — January 12, 2012 County Executive Richard M. Pollitt, Jr. today announced that he has appointed R. Wayne Strausburg as the new Director of Administration for Wicomico County. Pollitt delivered the letter of appointment to the County Council and then held a meeting to introduce Mr. Strausburg to the county department directors.

Mr. Strausburg, pending confirmation by the County Council, would be the chief administrative officer of the county overseeing the administrative functions of the County’s departments and agencies and under the authority of the County Executive. He will also have principle responsibility for developing the county budget.

County Executive Pollitt stated, “We are delighted to have Wayne join our team and look forward to benefiting from his expertise in both the business world and his community engagement.”

Mr. Strausburg currently serves as chairman for the Wicomico County Charter Review Committee and Vice Chair for both the Wicomico County Youth and Civic Center Committee and the Wicomico County Tourism Advisory Board. He is board member-elect for the Salisbury Area Chamber of Commerce and member of the State of Maryland Governor’s Commission on Small Business.

Mr. Strausburg has a distinguished forty-year career in senior level management positions and during his tenure has gained invaluable experience in operations, real estate and financial management. Strausburg most recently was President for the English Company based in Salisbury, MD.

Mr. Strausburg, has an MBA in Business Administration from Morgan State University.

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Benedict The Florist Sale to CVS Finalized

Senior Advisors John McClellan, CCIM and Bradley Gillis, CCIM with Sperry Van Ness – Miller Commercial Real Estate in Salisbury,MD have announced the sale of Benedict the Florist to CVS.   The property is located at1054 South Salisbury Blvd on the northwest corner of College Avenue near Salisbury University and was purchased by CVS for $1.895 million.

Benedict the Florist has been in business for over 130 years and officially closed their doors in October, 2011. Glenn, George and Steve Benedict enlisted the help of John McClellan, CCIM and Bradley Gillis, CCIM of Sperry Van Ness – Miller Commercial Real Estate in the sale of their property

This new CVS location is the first to be built in Wicomico County.  Construction will begin on January 9 with plans to open in early summer of this year.  The transaction took over 3 years to complete. Complex situations such as this one take dedication and perserverance from your commercial real estate broker.  It’s about so much more than just closing a sale of property.  Your broker needs to be there to help you navigate the often-complicated world of commercial real estate options and contracts.

John McClellan, CCIM has been involved in real estate in the local market since 1987 and specializes in Commercial & Industrial Real Estate and Tax Deferred Exchanges.  He joined the Sperry Van Ness-Miller Commercial team in January 2007.  He brings more than 24 years of real estate experience and has secured more than 900 transactions, resulting in a career brokerage volume in excess of $250 million.

Bradley Gillis, CCIM began his Commercial Real Estate career in 2004, Gillis has secured more than 75 transactions resulting in a career brokerage volume in excess of $55 million.

SALISBURY, MD, DECEMBER 2011 -  Senior Advisor Bradley Gillis, CCIM of Sperry Van Ness – Miller Commercial Real Estate settled on a 10,600 square foot professional/medical shell space, built in 2006 located on Sweetbay Drive in Salisbury, MD. Since 2006, with the economy taking a turn for the worse, and the demand for new construction dropping severely, this building has been sitting vacant and unfinished awaiting its destiny. Developers and investors were skeptical of the market for this type of product in this economy. The project is a bit ‘involved’ in terms of fit out and making the space ready for most users to have interest. “There is a limited pool of potential users for a 10,000 Square Foot office building in this market and during most of the listing cycle the price point did not attract investors” said Senior Advisor Henry Hanna, also of SVN – Miller.  “Once the property became in a short sale situation the price made sense for investors.”  Wesley Cox and Henry Hanna represented the sellers of the property.

Brad Gillis and Joey Gilkerson of the Gillis Team were fortunate to find the perfect user/investor combination for the property. The Gillis Team’s primary contact within the buying partnership is a medical/professional office user as well as real estate investor across Maryland’s Eastern Shore. Gillis described the transaction as, “…an absolute perfect fit. Between the space that the buyer is using and the space that he leased prior to settling on the property, approximately 8,400 Square Feet is spoken for.” Gillis will have the remaining 2,200 Square feet available for lease at a to-be-determined rate.

The address of the property is 1821 Sweetbay Drive, Salisbury, Md. The transaction was a short sale, requiring bank approvals after the buyer and sellers reached an agreement; it was purchased for $625,000 or $59 per square foot for what is considered ‘shell space’. The interior of the building had no prior build out completed with a combination of concrete and dirt floors. When the project is finished, the buyer will occupy class ‘A’ office space with one build to suit unit offered for lease.

Today was the second failed auction of 12507 Sunset Ave, in Ocean City Maryland. The property is within a condo association, 4600 Sq Ft warehouse. Built in 1986 this building needed some work. There is a $400,000 origination loan in 2004, the highest bid was $195,000 or $42 PSF; however, PNC bid the price up to $235,000. At the end of the auction they CANCELED the sale. PNC did not receive the funds needed to sell this property.  If you are interested in this property for sale or lease give me a call, I have all the information on this property regarding back taxes, condo fees, etc…