At the recent Annual Meeting & Awards Banquet held by NAIOP of NW Florida, SVN Advisors Sonny Granger and Chris Palmer earned the 2015 Broker Deal of the Year award for their roles in the sale of a 2,718 acre development parcel in Pace, Florida.
The property was formerly known as Jubilee and then as Contrada Hills with plans to include a 588 home community with an 18 hole golf course in phase one, followed by additional residential lots, a school, parks and commercial and retail office space. The land was initially purchased in 2005, but plans for the development were scrapped when the relationship with the development partners eroded simultaneously with the burst of the real estate bubble in 2008.
The lot sat vacant for several years until the help of a bankruptcy court-appointed receiver who listed the property. Sonny Granger, Principal and Senior Advisor and Chris Palmer, Advisor were representatives of the seller throughout the transaction. The pair faced many challenges including asset management, bankruptcy court, receivership, and environmental damage. Despite these challenges, Sonny and Chris were able to generate eight different offers to purchase the property for consideration by the bankruptcy court, receiver, lender, and asset manager. They were then able to work with each of those parties to negotiate the best deal on behalf of their client and assist the buyers in their due diligence process to ensure a successful closing.
The coveted piece of land sold for $3.9 million to an investment group out of Georgia. With over a dozen active subdivision developments in the immediate vicinity, this property is strategically located directly in the path of growth in one of Florida’s fastest-growing communities which will make it a crucial element of the Pace area’s future development and growth.
This is the second time that Sonny and Chris have won NAIOP NW Florida’s Broker Deal of the Year together, having also done so in 2012.
In addition, Chris Palmer was recognized as the Chapter’s Developing Leader of the Year. This award is presented to those members 35 years of age and under who have shown exemplary achievements and demonstrated outstanding professional accomplishments in the commercial real estate industry. Chris also won the award in 2012.
NAIOP NW Florida Mission: To be the leading organization in Northwest Florida for developers, owners, and related professionals in office, industrial, retail, and mixed-use real estate. We provide unparalleled industry networking and education, and we advocate for effective policies and legislation at the state and local levels on behalf of our members. We advance responsible, sustainable development that creates jobs and benefits the communities in which our members live and work.
|About Sonny Granger – Sonny has more than 15 years experience in the real estate industry, with a special passion for commercial brokerage and development. Sonny is based in Pensacola, Florida, with broker licenses for Florida, Georgia and Alabama. He is also one of four partners for SVN | SouthLand Commercial. Click here to view his full profile, or if you would like to contact him, you can call him at 850-610-8339, or email him at [email protected] You can also follow him on Twitter at @SonnyGranger.|
|About Chris Palmer – Chris has been working with commercial real estate in Pensacola, Florida since 2010. He primary specializes in working with commercial real estate clients on development and investment related properties. Click here to read his full bio, or if you would like to contact him, you can call him at 850-610-8339 or email him at [email protected]|
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