Another Grisanti Group CCIM

Raphael Collazo became Grisanti Group’s newest CCIM (Certified Commercial Investment Member) designee in April of 2023. What is a CCIM you might ask and why have three Grisanti Group agents, including Paul and Nick Grisanti, invested the time to earn the designation? The CCIM Institutes website says it best.

A CCIM is a Certified Commercial Investment Member. For more than 50 years, the CCIM Designation remains the gold standard for commercial real estate professionals, including appraisers, asset managers, brokers, developers, investors, lenders, and other allied professionals. CCIMs complete a rigorous program of advanced coursework and training in financial and market analysis, and demonstrate extensive experience in the commercial real estate industry.”

Grisanti Group always puts its clients first. The skills and knowledge obtained while taking CCIM coursework along with the resources provided by the CCIM Institute allow us to help our clients maximize their ROI and minimize their risk. A CCIM designation isn’t everything, but it’s another tool in our toolbox, and a demonstration Grisanti Group’s commitment to our clients.


New Grisanti Group CCIM

Grisanti Group is pleased to announce that broker associate Nick Grisanti has earned his CCIM Designation.

To earn the CCIM designation, a candidate must complete several core CCIM courses focused on real estate investment analysis, real estate user decision analysis, market analysis, negotiations, and ethics. A candidate must also submit a portfolio of qualifying experience to demonstrate not only classroom knowledge but real world transaction experience. The designation process culminates with a comprehensive exam which the CCIM institute hosts twice yearly at its conferences.

Nick passed the CCIM comprehensive exam and received his CCIM pin on April 9th at the CCIM Midyear Governance Conference in Charlotte. He joins Principal Broker Paul Grisanti as the second member of the Grisanti Group team with the designation.

CategoriesCommercial Real Estate News

Grisanti Group Reps Seller in Large Land Sale

That headline might sound familiar. While Grisanti Group handles commercial real estate transactions of all kinds, large land sales continue to be a specialty. Owners routinely turn to Grisanti Group when they need a trusted expert to sell their land holdings. Our latest closed transaction was 70+ acres of industrial land in the western Louisville market on Camp Ground Road. The family that had owned this large property for many years engaged Paul Grisanti and Nick Grisanti to represent them on the sale.

The buyer of the property was Poe Companies, a prominent Louisville developer that plans to construct speculative Class-A industrial distribution center warehouses on the site.

The industrial market in Louisville and surrounding counties continues to be red hot. Vacancy rates are low, absorption of vacant space is at record levels, and developers are hungry for developable sites.



Bullitt County Industrial Land Sales

 Grisanti Group has been busy in Bullitt County. We currently have over 125 acres listed in the I-65 corridor and have completed multiple recent transactions. 

In 2020, Grisanti Group worked on the sale of 30-acre of industrial land from Northeast Solite Corporation to Alpine Home Air, which is constructing a new distribution center on the site. Nick Grisanti represented Northeast Solite and Paul Grisanti represented Alpine Home Air. 

Just this week, Nick Grisanti and Krista Bicer represented a trio of owners who sold three parcels in a 15.26-acre assemblage. This land had two houses, but was zoned industrial. It is near the new Exit 114 I-65 interchange, and the area around this property will likely all be developed in the coming decade. An industrial development that proposes a 1,000,000SF building and a 500,000SF building is slated for the neighboring property. 

Two of Nick and Krista’s seller clients needed to leaseback their homes while they build and search for homes to move into. Nick and Krista were able to successfully workout a leaseback arrangement with the buyer to the satisfaction of their clients. Grisanti Group was pleased to be able to help these clients sell their properties and take advantage of being in the path of progress. 

CategoriesRecognition & Awards

Nick Grisanti wins 2020 KCREA Vacant Land Broker of the Year

Congrats to our own Nick Grisanti on being awarded the 2020 Kentucky Commercial Real Estate Alliance Vacant Land Broker of the Year. Vacant land sales are one of Grisanti Group’s specialties. These transactions require patience, knowledge of zoning and environmental/ecological permitting processes, and connection with developers. If you have a property that might have development potential but aren’t sure where to start, call us today to discuss.
CategoriesCommercial Real Estate

Grisanti Group sells high-profile entertainment venue

In mid-2019, news broke that prominent Louisville entertainment venue Noah’s Event Venue was in financial trouble, leaving many brides and grooms in the lurch. Like these would-be married couples, the landlords of Noah’s facilities across the country were being victimized as well. It seems they had been pulled into an alleged Ponzi scheme that is now being litigated in federal court. The owners of the Louisville Noah’s building, which is situated in Blankenbaker Station on Plantside Drive, were a group of more than 20 unrelated investors from around the United States. These owners reached out to Paul Grisanti of Grisanti Group Commercial Real Estate to assist with the disposition of the real estate when it became evident that their tenant, Noah’s, was insolvent. After months intense negotiations and the challenging logistics of executing contracts and closing documents among 23 separate and remote parties, Grisanti Group facilitated the completion of sale of the property. The new owner, Hollenbach-Oakley, plans to re-purpose the facility into office space.

This was one of the most challenging transactions on which Grisanti Group has ever worked. The greatest complicating factor was the ownership structure: Tenancy-in-Common (TIC). Most multi-party ownership groups are structured as partnerships, corporations, or LLCs that have corporate bylaws giving a single individual legal signing authority. In a TIC structure, every party must sign all documents, including contracts, amendments, closing statements, deeds, etc. And these 23 parties were not all simply individuals. Some were single people, some were husband and wife, some were trusts, some were LLCs, and so on. Gathering 23 sets of signatures on every document added complexity to every phase of the transaction. Grisanti Group’s good working relationship with a local real estate attorney, Larry Abrams, was vital to getting the deal to the finish line. Additionally, as a triple net tenant, Noah’s had previously been responsible for all aspects of property maintenance and management. However, once Noah’s defaulted, the owners had to step in and take care of the property. Due to the remote and passive nature of the owners, they enlisted Grisanti Group to manage the property during the transaction. Grisanti Group managed the security, utilities, lawn, landscaping, and other property issues during the course of the transaction.

While the deal was a challenge, Grisanti Group shines during complex transactions. We pride ourselves on attention to detail and providing exceptional service from the beginning of the listing agreement, to the contract, to the closing table, and beyond.

CategoriesCommercial Real Estate

Grisanti Group represents large industrial tenant

Grisanti Group Commercial Real Estate recently provided tenant representation services to Ring Container Technologies, an Oakland, Tennessee-based plastics manufacturer. Ring needed industrial space in Louisville to supply a key customer.  Ring announced the opening of its state-of-the-art plastic container manufacturing facility in October 2018. Leading up to that moment, Paul and Nick Grisanti spent nearly two years working with Ring officials on site and building evaluation, lease negotiation, and construction. Paul and Nick presented multiple buildings and arranged for numerous tours for Ring’s decision makers. Ultimately, Ring decided to locate at the newly-constructed industrial building at 5808 Johnsontown Road. International Airport Centers was the developer and owner of this building. It is a multi-tenant building in which Ring leases 155,000 square-feet and shares with two other tenants.

The building is conveniently located in the Jefferson Riverport International, one of Louisville’s largest industrial parks. Ring selected the location for its proximity to Algood Foods, a key customer of its plastic containers. Algood manufacturers peanut butter. Ring’s plastic containers are used for a variety of food products, including peanut butter, mayonnaise, nuts, and other snacks. According to Ring, the Louisville facility is using new technologies. Per Ring’s press release: “This cutting-edge application was developed to support the needs of our current and prospective customers, and we are pleased to be launching it in Louisville,” said Brian Smith, Senior Vice President of Innovation and Supply Chain at Ring.

In addition to the real estate negotiations, Nick Grisanti assisted Ring with its applications for incentives through the Kentucky Cabinet for Economic Development. Nick guided Ring through the process of getting approved for the Kentucky Business Investment program, which provide tax rebates for job creation, and the Kentucky Enterprise Imitative Act program, which provide tax rebates for new construction projects. Nick’s experience as a project manager at the Cabinet for Economic Development allows him to offer these incentive consultation services as a bonus to clients with projects that meet the state’s criteria.

CategoriesCommercial Real Estate Recognition & Awards

Largest Commercial Real Estate Brokers

Grisanti Group Commercial Real Estate has once again ranked among Louisville’s largest commercial real estate brokers. Overall, Grisanti Group ranked as the 12th largest broker in Louisville, with over $29 million in transaction volume in 2017.

In the Industrial category, Grisanti Group ranked as the 7th largest broker, with over $17 million in transaction volume. We were the 12th largest office brokerage, with over $8 million in office deals. Our office transaction volume was bolstered by the Diversified Consultants Inc transaction, mentioned on several posts here before, which was named a Business First Commercial Real Estate Champion Award Finalist.

Grisanti Group’s industrial volume was bolstered by another year of multiple self-storage transactions and a major lease deal. Our self storage deals included sales of existing facilities, land for new development, and existing buildings for self-storage retrofits. We provided tenant representation on a large industrial lease transaction (over 155,000SF of manufacturing and distribution space), which we’ll be able to give more deal on later in the year when the project is announced.

2017 was another great year for Grisanti Group, and we appreciate all of our wonderful clients.


Commercial Real Estate Champions

Grisanti Group Commercial Real Estate was honored yesterday at the 2018 Business First Commercial Real Estate Champions event. The deal that was named an honoree at the event was Diversified Consultants Inc.’s 2017 office lease for which Grisanti Group acted as Tenant Representative. This project was one of 18 honorees to be recognized for their major impact on Louisville. Grisanti Group provided advised   Jacksonville-based DCI throughout this project to locate its new call center in Louisville. DCI leased 60,000SF of office in Commerce Crossings Business Park at 5100 Interchange Drive.

This project began back in 2016 with an extensive search for suitable properties to meet DCI’s challenging specifications. Grisanti Group and DCI’s project team reviewed numerous properties, and ultimately determined that the Commerce Crossings building was the right fit. Nick Grisanti negotiated the deal with landlord Capstone Realty in late 2016 into early 2017. Nick also assisted DCI in arranging a job-creation tax incentive package from the Kentucky Cabinet for Economic Development and City of Louisville.

Initially, DCI leased 40,000SF with a right of first opportunity on remaining space 20,000SF in the building. In late summer 2017, another tenant began seriously considering a lease the remaining space. DCI opted to exercise its right of first opportunity and lease up the remainder of the building. Since that time, the entire building has be renovated to DCI’s specs.

DCI is steadily filling the space up with new employees, and aims to hire 1,000 workers within the next few years.

If your company is looking for office, industrial, or retail space, reach out to the professionals at Grisanti Group. There is no harder-working team than us, and we will go above and beyond to find the perfect space for our buyer and tenant clients.


Laudable Land Deals

Since Grisanti Group’s inception, brokering land deals has been one of our specialties. Agent Patti Evans demonstrated this by closing out 2017 with the sale of a 90-acre farm in Henry County. This was one our largest ever deals by total area. The property consists of a beautiful home, top-quality stable, utility shed, and stocked pond.

Despite the ample amenities on this property, large farms or tracts of land usually move slowly due to the limited number of potential buyers. Patti’s diligent efforts to identify a buyer and progress from contract to the closing table led to a sale of this property in 9 months from listing. A remarkably speedy process for a large land listing.

If you own a large piece of land and are looking to cash in on the value, now is a great time to test the market. The economy is strong, developers are building, and investors are looking for outlets for their cash other than the volatile stock market.

The farm that Patti sold did not go through a rezoning process. However, large land sales with which we’re involved often do require rezoning for commercial or higher density residential development. This process may seem daunting to the uninitiated. Grisanti Group has relationships with Louisville’s best zoning attorneys and land planning engineers to help buyers and sellers smoothly move through the rezoning and permitting process. With our advisory services and connections, we can help guide clients through the slow, but ultimately rewarding process of rezoning and development of raw land.

Call Grisanti Group today to consult with one of our agents on the potential uses and value of your property.