John McCormack, Broker and Principal of the JNM Company – Commercial Real Estate has over 22 years of experience in commercial real estate sales, leasing and development and has an undergraduate degree in mechanical engineering and master’s in business administration. He has broad experience in urban and suburban development, and strongly believes in the multi-disciplinary and collaborative approach for projects, such as the major projects at the Uni-Kool and Boronda Meadows sub-divisions in
Volunteer Work
John McCormack has been an active member of the Salinas Valley Chamber of Commerce for four years. He participated in the Chamber's review of the City of Salinas 2006 Zonin g Code Implementation Review in 2007. In 2008 he joined with Peter Kasavan and Salinas Plannin g and Research Corporation (SPARC) to create the Retail and Industrial Committee for the retention and expansion of the retail and industrial businesses in Salinas. Representin g SPARC he attended the joint California Association for Economic Developers (CALED) and California Community Colle ge Conference in Monterey in April 2009. This conference has lead to discussions with USDA for potential economic development opportunities throu gh their A gricultural Reseach Reseach (ARS) group.
One of the primary focus' of the JNM Company is land development. John McCormack's extensive experience provides him with a unique perspective on land-use issues, team building and project maximization. Past land development includes, Sunset West, a 117 lot residential project in Watsonville in Santa Cruz County. Project responsibility included marketing and negotiating a joint venture between the land owner and a regional home builder resulting in substantial benefits to both parties.
John McCormack has completed a number of 1031 Tax-Deferred Exchanges in partnership with Registered Investment Advisor Nicholas Prassas of Prassas Capital Group, LLC. Exchange properties have included a major Los Angeles entertainment center, a major Chicago Loop office building, student housing complexes and mini-storage properties.
The JNM Company placed one of the best industrial buildings in Salinas into contract after receiving four offers. Esrow is scheduled to close in early August of 2006.
Represented as a Buyer Broker, the purchase of a local non-anchored shopping center in 2004. The center is now 100% leased and the JNM Company has increased net income by 30+%.
Sold a medium size apartment complex in Pacific Grove in 2005. The seller received six offers. The final purchase price was 10% higher than the original listed price.