Terry Coyne - Commercial/Industrial Real Estate Properties

Case Studies - Proven Experience and Knowledge

Each year Terry's team completes dozens of transactions across a wide variety of property types and projects. Terry's team has an unparalleled knowledge of the Midwest Market. Featuring an industrial and commercial real estate transaction portfolio in the billions, Terry Coyne raises the bar when it comes to customer satisfaction by providing clients with the absolute highest quality professional commercial real estate services.

Landlord & Seller Representation Case Studies

First Industrial (Landlord)
The Challenge: In fall of 2011, a 200,000 SQ FT tenant vacated one of the properties to build new and expand in another city. This left a large hole in the Landlord's portfolio. Despite it being a beautiful, Class A, high amenity building, there were not many 200k tenants in the marketplace.
The Solution: In early 2013, the team was able to find a 200,000 SQ FT tenant, negotiate a 10 year lease... [READ MORE] [PDF]

Scannell Properties (Landlord Representation)
The Challenge: A 200,000+ square foot, high bay, ESFR, new construction spec building broke ground in spring 2015. In order to keep construction moving in the park, the landlord wanted this building leased quickly.
The Solution: After negotiating length of term, build-out specifications, and market rate, TWW-Bridgestone pre-leased 55,000+ SQFT... [READ MORE] [PDF]

Optima Ventures (Landlord Representation)
The Challenge: Prior to Newmark acquiring the business, ownership had tried an outside brokerage firm only to be disappointed with the results due to the large requirement.
The Solution: Terry Coyne grew the relationship with Optima and compiled a Newmark team consisting of five brokers. Each building... [READ MORE] [PDF]

Saint-Gobain Ceramics & Plastics (Seller Representation)
The Challenge: The land entered the market in the fall of 2009, right at the height of the recession. Second, the environmental condition was troublesome.
The Solution: Due to Terry Coyne's many local Northeast Ohio connections, he was able to get a local developer interested... [READ MORE] [PDF]

Trust Technologies (Seller Representation)
The Challenge: Sell a Class A, 67,200 SQ FT manufacturing building while finding space for the tenant in-place to downsize upon transfer of property.
The Solution: The team positioned the property at a high per SQ FT price. Even though it was priced high, the seller... [READ MORE] [PDF]

Hackman Capital (Seller Representation)
The Challenge: The building is located in an A+ location, but is a C+ building. Low ceilings, tight parking, 1970 facade, short truck court, which all led to high vacancy in the building.
The Solution: Terry and his team took the building to market for sale, while continuing to market the building for lease... [READ MORE] [PDF]

ACAS Real Estate Holding (Seller Representation)
The Challenge: A special servicer was put in place on behalf of the lender/note holder for the building. Along with Neyer, Terry Coyne was hired to lease or sell the 300,000 square foot building at a price that was acceptable to the special servicer.
The Solution: Due to the high demand by mid-size users, Terry approached a large local developer/owner, Premier Development... [READ MORE] [PDF]

Buyer & Tenant Representation Case Studies

The Situation: The tenant, GOJO Industries, Inc., headquartered in Akron with distribution centers around Northeast Ohio, hired Terry to assist with their current distribution need and to forecast and accommodate their expected growth for the future.
The Solution: In 2013, Terry negotiated a 350,000+ SF immediate lease with the Landlord, InSite Realty, with multiple expansion options throughout the term of the lease. In 2015, GOJO expanded to the remainder of the building, for a total of 1.3M SF to manufacture its own injection and blow molding as well as distribution... [Click to read more (PDF)]


The Challenge: SupplyOne, a specialty company that offers custom solutions, pressure sensitive labels, marking systems, supplies and equipment, was occupying a 156,460-square-foot warehouse/office property in a well-located suburban industrial area in the Cleveland Market. Newmark Grubb Knight Frank was engaged to help SupplyOne find a more efficient space that fit into the company's overall business plan. 
The Solution: SupplyOne ultimately signed a 105,000-square-foot lease at 26801 Fargo Road, where NGKF's Vice Chairman Terry Coyne represented the landlord, ORG, in the lease negotiations. SupplyOne took occupancy of its new space in December 2016.... [Click to read more (PDF)]

Scannell Properties
The Challenge: The former Chrysler Stamping Plant had declared bankruptcy and had been sold to a liquidation company representing the value of the heavy equipment. Buyers of the real estate had to budget for acquisition, demolition, extensive environmental remediation, utility rework, and more.
The Solution: The buyers and Terry Coyne met with the city to discuss future plans for the property, which would include an industrial and office business park, Cornerstone Business Park, on the 167 acres... [READ MORE] [PDF]

Vox Mobile
The Challenge: Vox Mobile leased space in two buildings; one for their office headquarters and one for their configuration space/warehouse. Vox needed to expand their space as well as ideally consolidate under one roof for ease of employees and clients.
The Solution: The team found two options that could have them in one building, with a dock door, opportunity to expand, and... [READ MORE] [PDF]

Investment Sales Case Studies

Thackeray Partners
The Challenge: The building was built in two portions. Originally in 1978 and an addition was put on in 2005. The newer portion had many updated amenities: higher ceilings, newer sprinklers, nicer facade, etc. Although the building was 100% leased, it was to local/regional tenants. Finding a buyer to accept these issues would be the challenge.
The Solution: The team marketed the asset with the multiple mid-long term leases in place, high quality and... [READ MORE] [PDF]

Lamrite West, Inc.
The Situation: The owner of 12850 and 13000 Darice Parkway, AIC Ventures, hired Terry Coyne and his team to sell two high-profile distribution buildings that are currently the home and headquarters of Lamrite West, Inc., the parent company of Darice and Pat Catan's...
The Solution: "Bret, Terry and Kristy executed this sale seamlessly and we greatly benefited from their local expertise and institutional rolodex," said Michael J. Baucus, Managing Partner of AIC Ventures. "Hopefully, our 6.16% cap rate stands as the Cleveland record for some time."... [Click to read the full Case Study (PDF)]

Incentive, Sale-Leaseback & Other Case Studies

St Gobain (Incentive)
The Challenge: In 2007 Saint-Gobain decided to relocate and build a new 110,000 square foot research and manufacturing facility. Saint-Gobain was located in two locations, Newbury and Solon, which are in two different counties.
The Solution: Terry Coyne engaged both counties, varying cities, and multiple developers for their relocation process.... [READ MORE] [PDF]

Rubbermaid (Sale-Leaseback)
The Challenge: Sell the Rubbermaid world headquarters of 1,200,000 SQ FT and Newell-Rubbermaid would lease it back.
The Solution: Terry Coyne found a buyer and negotiated a five year sale lease back with the new owner... [READ MORE] [PDF]