Chip Watts, CCIM, CPM

Retial-Commercial in Historic Downtown Homewood

Retail-Commercial in Historic Downtown Homewood

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Distressed property: bank foreclosure. Price greatly reduced to remove from bank's books. Property was shut down and no units were occupied.

Distressed property: bank foreclosure. Price greatly reduced to remove from bank's books.

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Executed 5 year lease for medical offices

Executed 5 year Lease for Medical office use.

Lease of Retail Space

Property was originally used as a scrap yard. Property was intended for bulk distribution warehouse in the late 1990's/early 2000's; however, market research indicated the market would not absorb such in the area. In 2008, Changed Lives Christian Center began searching for a location to place a job training center and transitional housing location for the homeless of Birmingham. As a gesture of good will and to facilitate a better Birmingham, Mr. Berman utilized our company to facilitate a smooth transition of ownership and conditions to the City, which then transferred ownership to Changed Lives.

Completed an assignment of lease to another party to relieve Supperthyme of rental payments.

Leased 3,125 square feet of office/warehouse space as a fitness facility.

Leased a office/warehouse for use for an automotive distribution warehouse.

Leased a freestanding retail store in a transitioning neighborhood.

Sell an older property held in trust by Wachovia Bank, NA for a price deemed appropriate for the trust's beneficiary. Completed the deal from listing to closing within one month of accepting assignment.

Provide leasing and management services to Southern Research Institute, an independent 501-(c)-3, not-for-profit center for scientific research, affiliated with The University of Alabama at Birmingham.

Listed and sold one of the oldest highrise buildings in downtown Birmingham. Property was distressed with outstanding tax issues dating back to 1986 and multiple liens and foreclosures. We accompanied and advised our clients through multiple issues, including a third-party claim to the property, and assured a beneficial and acceptable closing to all parties.

Expanded a current tenant in the Arlington Business Center into vacant space for use as administration offices. This lease not only generated income for the Landlord after a large user vacated, it also reduced the overall rent outlay for Jefferson Clinic by relocating them from a second building at a higher rental rate to this center. Not only did it reduce the rent of Jefferson Clinic, but it also allows them to have their administrative offices at the same location as their clinic.

Leased unit as a sales office to Leer Tower (old Cabana Hotel) during their redevelopment phase.

Space was previously occuppied by UAB for 20+ years. Was successful in re-leasing the space to a CVS-brand Pro Care Pharmacy within 6 months of vacating by UAB. Successful in negotiating a CVS-guaranteed 15-year net lease on an "as-is" basis for our client.

This transaction was originally intended for lease instead of a sale; however, the market conditions and surrounding property did not allow a lease at an appropriate rate even though the owner preferred to lease the property. After several months of advertising, the owner decided a sale would suffice at a particular price. A purchaser, previously identified to us in prior negotiations, was approached to purchase the property at the owner's price. All parties to the transaction were satisifed in a win/win situation and closing occurred within one month of contract execution.

Client originally purchased unit new in 2003 utilizing Watts Realty. Client's business environment had changed and did not need the unit in the Birmingham area. Unit had not been utilized in approximately 18 months. Client re-hired Watts to sell unit. Client did return a nominal investment on the unit; however, client was interested in a quick sell. Unit was sold within 3 months of listing.

Successful in pre-leasing a retail site in a highly desirable location in Homewood. Successful in providing our client with back-to-back leases without missing a month in between at a desirable rate to both tenant and landlord.

Successful in subletting property in a highly desirable Homewood location within one week of placing on market for sublease. Obtained favorable conditions for Tenant, Landlord and Sub-Tenant.

Sold property that had been inherited by family members that disagreed on the value of land. Took a property that was on the market for over ten years and found a creative way to sell the property while satisfying all family members involved.

Sold property that had been on the market with another company for several years. Successful in working with national client and bringing a local buyer to the table. Maintained client and buyer relations throughout a long contract period and closed the transaction smoothly and efficiently.

Property was on the market for lease; however, we were approached to sell instead of lease. Sold contiguous properties to Alabama Power Company for placement of a substation. Was successful in negotiating a sales price beyond my client's expectations.

Sold contiguous properties to Alabama Power Company for placement of a substation. Was successful in negotiating a sales price beyond my client's expectations.

Successful in selling contiguous parcels of land in the Homewood area. Property was one of few land parcels available in the downtown Homewood area of Rosedale on old Hwy 31.

Sold last parcel of land in real estate portfolio to prepare for liquidation of assets to other family members. Successful in selling contiguous parcels of land in the Homewood area. Property was one of few land parcels available in the downtown Homewood area of Rosedale on old Hwy 31.

Successfully leased property to 100% occupancy. Negotiated long term leases with a pediatrician and hospice companies.

Sold property to complete liquidation of real estate assets in an estate. Successful in working with family members and negotiated a sales price very close to asking.

Sold one of several parcels in a portfolio to begin liquidation of real estate assets to prepare for end-of-life changes for client's family and simplify inheritence issues.

Successful in creatively leasing large box retail in a location where the major traffic pattern was shifted away from the building by road relocation.