April 2017 - Heartland

McLendon Hardware begins sell-off with 4 stores for $30M

04.13.2017

In 2015, Heartland was engaged by McLendon Hardware, a third-generation family-owned Seattle area hardware store chain, to assist them in a strategic alternatives analysis to maximize the value of their operating business and real estate as well as plan for succession. In 2017, Heartland’s work culminated in the sale of the hardware operating company to CNRG, a Memphis-based national hardware store, home center and lumberyard operator, and the disposition of the five-asset owned real estate portfolio to Suntrust with a leaseback to CNRG. As a result, the long treasured brand and company will continue to operate and a successful outcome for the shareholders was achieved.

McLendon Hardware begins sell-off with 4 stores for $30M —Daily Journal of Commerce

McLendon Hardware, for decades a regional fixture, is sold to Memphis firm —Seattle Times

Heartland continues to grow with the addition of new team members

04.06.2017

Welcome Lee Striar, Craig Johnson, and Amy Hartman. Heartland is excited to have you on the team.

Seattle Opera Sells Real Estate Asset in Support of a New Permanent Home on the former Mercer Arena Site at the Seattle Center

04.06.2017

In 2014, Heartland was engaged by the Seattle Opera to assist with the consolidation of their multi-location operations into a permanent home that would act as a catalyst for several public-private partnerships at the Seattle Center, ultimately driving value and vibrancy to the heart of the arts and entertainment corridor of the City. Most recently, Heartland assisted the Opera in monetizing one of its key assets in the Uptown neighborhood in support of the completion of the $60M, 105,000 square-foot Seattle Opera At The Center permanent home, which began construction in January 2017.

Pratt Fine Arts Center Secures the Ability to Expand its Central District Campus

04.04.2017

In 2013, Pratt engaged Heartland to help create a concept for an arts-based community and then secure a private developer who shares the vision and has the capital and expertise to take it through the development process. The Heartland team generated several alternative configurations, analyzed the range of financial implications to Pratt and ultimately took the opportunity out to the market. There were many innovative proposals but a team led by Daniels Real Estate and including Graham Baba Architects and landscape architecture firm Gustafson Guthrie Nichol won the opportunity to develop the property which will include a major new facility that Pratt will own and occupy. This project is a great example of mission driven organizations using their assets to create economic sustainability for the future.