Colorado Real Estate Journal - June 5, 2019
A Denver boutique industrial real estate firm that recently completed some sizable transactions is rounding out its roster of professionals with two longtime local industrial brokers. Tim Gilchrist and Brian Wilkes have joined Ringsby Realty Corp. from Cushman & Wakefield. “Both are very well-respected, high producers, have great reputations and utmost integrity, and they’re family oriented,” said Alex Ringsby, Ringsby Realty president. “They’re just a perfect addition to our team of local experts,” he said, adding their expertise includes handling complex industrial land transactions. Gilchrist, who was with Cushman & Wakefield and its predecessor for many years, said Cushman is a “great company,” but that the move will allow him and Wilkes to provide more personalized service to their clients, which range from corporations to owners of “one or two pieces of real estate.” Also, “In large companies, you tend to be channelized in one area, and this gives us greater flexibility to work with all types of properties,” he said, adding there also is an opportunity to invest in deals alongside Ringsby and his team. Wilkes said in light of consolidation within the commercial real estate industry, brokers are wise to align either with large national firms or smaller “boutique” firms such as Ringsby Realty that focus on local and regional business. “Through experience I’ve found my personality fit and preference is to work with landowners, building users and independent investors. I’ve worked with Alex and the other brokers over at Ringsby in the past and always enjoyed the straightforwardness of the transaction. There seems to be a more entrepreneurial spirit in looking at deals and possible real estate syndications, and more favorable splits on the brokerage side don’t hurt the cause either,” he said. “We’re focused on Denver area opportunities and uncovering those for our clients, who get a higher level of service,” said Ringsby. All of our brokers have been doing this for 20-plus years, so you get an expert.” “We’re a Colorado company, and I think people like that,” he added. Recent industrial deals the company completed included representing the buyer in the $24.5 million acquisition of Western Food Center at 5120 and 5140 Race Court in Denver, and the $7 million sale of the Soneff Garage, a possible future redevelopment site, at 2136 Curtis St., also in Denver. Ringsby and Scott Patterson, also of Ringsby Realty, then assisted the garage’s seller in acquiring a 10,000-sf industrial building on 20,000 sf of land at 1204-1212 W. Cedar Ave. in Denver for $1.75 million. Steve Fletcher of Newmark Knight Frank represented the seller.