Office Track Record
Net Lease Capital Markets
Meet the team
Ken Hedrick
Vice Chairman
Ken co-leads a respected Net Lease Capital Markets team based out of Colliers’ Tulsa market. Prior to joining Colliers, Ken served as Executive Managing Director for Newmark where he and his team served clients including high-net-worth 1031 exchange buyers, funds, private equity groups, and institutions. Ken has over 21 years of experience in commercial real estate. He earned his Master of Business Administration degree in marketing and finance from Oklahoma City University and his Bachelor of Science in Business Administration degree in marketing from Oklahoma State University.
D. Andrew Ragsdale
Vice Chairman
Andrew co-leads a respected Net Lease Capital Markets team based out of Colliers’ Tulsa market. Prior to joining Colliers, Andrew served as Senior Managing Director for Newmark where he and his team served clients including high-net-worth 1031 exchange buyers, funds, private equity groups, and institutions. Andrew has over 16 years of experience in commercial real estate. He earned his Juris Doctor degree from the University of Tulsa College of Law and his Bachelor of Science degree in finance from Oklahoma State University.
Phillip Butts
Associate Vice President
Phillip serves as an Associate Vice President on a Net Lease Capital Markets team based out of Colliers’ Tulsa market. Prior to joining Colliers, Phillip served as Associate Director for Newmark where he and his team served clients including high-net-worth 1031 exchange buyers, funds, private equity groups, and institutions. Phillip has over 14 years of experience in commercial real estate and earned Bachelor of Science degrees in both Finance and Energy Management from the University of Tulsa.
Grace focuses primarily on business development, transaction management, due diligence, market research, as well as marketing efforts for the Net Lease Capital Markets team. Prior to joining Colliers, Grace was a Marketing Specialist at Hillwood for their industrial leasing team. Grace has 8 years of experience in the commercial real estate industry and holds a BS in Communications from the University of North Texas.
Heartland Payment Systems Headquarters Office
Oklahoma City, Oklahoma
TROPHY ASSET DISPOSITION IN A RISING INTEREST RATE ENVIRONMENT
Exclusively represented a private real estate firm in the disposition of Heartland Payment Systems headquarters facility in downtown Oklahoma City. The office building was new construction located in the heart of downtown. The property is leased long-term with annual rental increases with an Absolute NNN lease. Additionally, Heartland has investment-grade credit of BBB- with Standard & Poor’s. Our team ran a strategic call-foroffers process that generated multiple offers and ultimately achieved an aggressive cap rate in a rising interest rate market.
112,000 SF BUILDING SIZE
$46.97MM SALE PRICE
Engaged by a seller to dispose of a zero cash flow property and the seller required flexibility with their pending 1031 exchange. The asset was a corporate global office headquarters on their campus in Midland, Michigan. We went to targeted list of zero cash flow buyers and received a very competitive offer from an institutional client. After several rounds of negotiations, we awarded the property to the institution and proceeded to a successful closing.
Represented a family office on a large 1031 exchange. The family office was looking to acquire an asset that could solve their 1031 exchange and be a generational asset for the family trust. We brokered a deal with the seller of an off-market property in Hawaii that was fee simple, which is very rare on the island. The buyer had to assume existing debt which worked well with the debt and equity requirements for their trade.
Represented the buyer on an off-market acquisition of the United Nations Translation Department building in Manhattan. The institutional buyer was looking to acquire a government asset in NYC but very few single tenant government office assets exist in Manhattan. Our team was notified of this off-market opportunity and successfully put the transaction together as it was a perfect fit for this institutional government fund.
187,000 SF BUILDING SIZE
$114MM SALE PRICE
