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‘The human side’ of commercial real estate

By Kyle Robbins
10 March 2022 | 1 minute read

Years of nurturing and building relationships have resulted in one massive sale for a Brisbane real estate agent. 

For Ryan Chesney, sales consultant at NAI Harcourts Pinnacle, the $20.1 million sale of a large commercial property in the northern Brisbane suburb of Boondall is not only a great outcome, but a testament to the building of relationships since the beginning of his career. 

Mr Chesney’s relationship with the owner began during his first week of real estate, but his relationship with the building dates back many years to when he used to walk past it on his way to school every day.

“Our job as agents is to build these relationships with our clients and the property transactions are the by-product of that,” he said.

The sale highlights a human side to the commercial real estate industry that is both integral to its success and rarely even shown publicly, believes Jason Luckhardt, national manager at NAI Harcourts.

“The residential market is buoyant and full of success stories, but due to the nature of commercial we don’t always get to share the details of the human side of our deals.”

The property, which was acquired via a co-investment between Ferradini Property Group and a private family, has remarkable upside, especially considering its location, according to Pranay Magan, managing director at Ferradini Property Group.

He said: “Given the proximity to private day/boarding school, Nudgee College, Virginia industrial precinct, and the Boondall residential catchment area, we believe[d] the centre would attract a strong demand for additional retail, medical tenant users and food lovers alike.”

Highlighting the value of lasting human relationships in the real estate industry, Mr Chesney concluded with a pertinent reminder for his fellow agents: “Perhaps keep an eye on those properties you walk by on your way to school.”

 

‘The human side’ of commercial real estate
Ryan Chesney NAI Harcourts Pinnacle commercial reb
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