NKF Adds Net-Lease Vets to Team
- Aug 25, 2017
Newmark Knight Frank has added three net-lease specialists to its team—Ken Hedrick, executive managing director; Jerry Hopkins, senior managing director; and Andrew Ragsdale, senior managing director—all coming over from Tulsa, Okla.-based Stan Johnson Co.
“We are excited to join a global real estate firm that provides a full suite of real estate services and expertise,” Hedrick told Commercial Property Executive. “We see the net-lease niche evolving and our goal has always been to provide the best service and support to our clients. In addition to credit and lease expertise, clients expect their net-lease brokers to have a deep roster of both domestic and internal buyers as well as local experts that understand the dynamics and unique story in each market. Joining NKF will allow us to do that exceptionally well.”
Trio Closed 2.3B in Sales
Combined, the team has closed more than 280 transactions totaling approximately $2.3 billion in sales.
“NKF was very appealing because of their outstanding reputation, team-first approach, local market expertise and global reach,” Hedrick said. “We also see a real ability to help their platform through the establishment of a national net lease practice group. In addition, NKF has several mega teams that we’ve respected for many years. We are humbled and excited about the opportunity to work with mega brokers like Rob Griffin and Kevin Shannon along with the other great members of the Capital Markets Team.”
A nine-year veteran, Ragsdale is a licensed attorney and has an established track record of handing acquisitions and dispositions of single-tenant retail, industrial and office properties. He oversees the team’s marketing and closing processes.
Hedrick and Hopkins are both top producers nationally, and together have more than 25 years of expertise in retail, office and industrial single-tenant deals. Notable transactions for the team include the United Nations office building in Manhattan, a national portfolio of CVS properties, 60 FedEx facilities and 40 Tractor Supply leased properties.
“I’m eager to leverage the global NKF platform alongside BGC and Cantor Fitzgerald,” Hedrick said. “The NKF brand and its institutional focus are incredibly appealing to our clients and our team. The firm’s collaborative approach and strong, local-market presence is meaningful in a competitive environment, and as investors continue to chase high-quality assets, its stability and the depth and breadth of its global platform are essential. We could not overlook this opportunity to join NKF, which has demonstrated a major commitment to expand their full suite of capital markets expertise nationally.”
In-depth market knowledge
Additionally, the Tulsa team has negotiated numerous transactions on behalf of institutional and high-net-worth individuals to support their business objectives, and specializes in managing complex, tax-deferred 1031 exchanges.
According to Hedrick, experience plays a critical role in the net-lease space.
“Similar to an attorney or a surgeon, you want the absolute expert that has the most focus and experience to increase the odds of success,” he said. “We have a firm understanding of the credits and how buyers uniquely underwrite each deal. We know which questions to ask as you qualify the real estate, credit and lease components in a transaction. This allows us to provide sellers more accurate pricing feedback and certainty while pricing deals.”
Additionally, he said, the team has strong relationships with both buyers and sellers, to know which groups are likely to transact well together.
“Our strong foundation in these areas, coupled with the NKF platform, will provide us with an excellent growth opportunity moving forward,” Hedrick said.
Image courtesy of Newmark Knight Frank