Strength in Numbers: MNCREW's Collaborative Power
Pictured from left to right: Christy Lewis (Mint Roofing), Andrea Fazendin (Art Partners Group), Heather Hoffman (PowerSource Construction), Christeen Hennes (Old Republic Title), Roseanne Hope (Hope Law), Ashley Moen (Savills).
During a challenging market period marked by rising interest rates and increasing building acquisition costs, Heather Hoffman of PowerSource Construction needed a new space for her growing business. Leasing wasn’t an option; she required a unique combination of office and warehouse space and recognized that purchasing was the best move. As a member of MNCREW, Hoffman was eager to leverage her connections and knew it was essential to introduce her vision to these relationships early in the process.
Hoffman enlisted Ashley Moen, fellow MNCREW member and Senior Managing Director at Savills, Minneapolis, to assist in finding the best fit asset as the Buyer Broker Representative role. They were strategic in searching out smaller properties, as well as those that had potential reuse opportunities, given the landscape of the market and non-negotiables of PowerSource Construction. A building located in St. Anthony, Minnesota was selected, however, the building inspection identified a roof issue.
This challenge prompted Hoffman and Moen to integrate as many MNCREW members and member companies as possible, recognizing that trust and speed were crucial. The inspection revealed that the last roof installation had involved layering a new roof over the old one, which concealed trapped water between the layers. Additionally, the site had parking easements with a neighboring parcel, adding to the hurdles Hoffman faced in selecting this site for PowerSource Construction.
The MNCREW team included Christy Lewis (Mint Roofing), Barb Chirinos and Christeen Hennes (Old Republic Title), Roseanne Hope (Hope Law), Andrea Fazendin (Art Partners Group), and Elena Branca (Newmark Associates). Together, they tackled everything from negotiating price reductions due to the roofing issue to installing a new roof and managing branding throughout the building.
This collaboration allowed established MNCREW relationships to thrive and new ones to form, embodying Hoffman's commitment to supporting fellow women in the industry.
“Heather walks the talk with her commitment to supporting other women in MNCREW and the passion that she uses to lead her company” Fazendin said. “There is joy and power in being intentional with the team you create.” Hoffman reflected on the project, “I don’t get an opportunity to do real estate deals as I am usually on the construction side. So, when it came time to do my own deal, I knew immediately I was going to work with my CREW.”
The project was completed with a commercial roof value of $134,361.00 and a construction value of $1,100,000.00. The impact the negotiations team made due to the roof condition led to a transaction value of $975,000.000.
The Power Source Construction project is a MNCREW 2023 Collaborative Business Award Recipient.
MNCREW members involved in this deal
PowerSource Construction
Savills
Old Republic Title
Mint Roofing
Old Republic Title
Art Partners Group
Hope Law
Newmark Associates
Chelsey Klasnich, American Drapery Systems
Chelsey Klasnich is the Vice President of Sales & Business Development at American Drapery Systems in Golden Valley, Minnesota, and holds a bachelor's degree in Communication Studies and Broadcast Journalism from The University of St. Thomas (St. Paul, MN) and a masters of business administration from St. Mary’s University- Twin Cities (Minneapolis, MN). A passionate solutions provider with over 16 years of experience in business development, sales, and marketing, she leverages these skills with her educational experience to contribute to the CREW Communications and Editorial Committee and her position as co-chair of MNCREW’s Finance Committee.
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