Richard I. Simons

Richard's experience includes acquisitions, dispositions, financing, joint venture formation, large-scale office, industrial and retail leasing, and advising on condominium matters, land planning and real estate components of mergers and acquisitions.

Prior to joining the firm in 2015, Richard practiced with a firm in Columbia, South Carolina, where he primarily represented Chapter 7 Bankruptcy Trustees in complex bankruptcy matters before the U.S. Bankruptcy Court for the District of South Carolina, the U.S. District Court for the District of South Carolina, and the U.S. Court of Appeals for the Fourth Circuit.

Representative Experience

Industrial Development and Leasing

• Speculative building joint venture agreement for acquisition, development and ownership of 1,019,000 square foot industrial building in Summerville, SC, including over $32 million construction loan, triple net lease, and sale of property ($109,000,000)
• Joint venture agreement for acquisition of 89 acre parcel in Berkeley County, SC for development of 615,000 square foot industrial building in Summerville, SC, including negotiation of industrial build to suit lease and private sidetrack agreement between joint venture, tenant and CSX for delivery of product directly from the South Carolina Port and sale of property ($79,250,000)
• Build-to-suit joint venture agreement for acquisition, development and ownership of 432,330 square foot industrial building in Summerville, SC, including over $18 million construction loan, single-tenant triple net lease and forward sale of the property ($32,750,000)
• Speculative building joint venture agreement for acquisition, development and ownership of 136,500 square foot industrial building in Summerville, SC, including over $7 million construction loan, triple net leases and sale of property ($18,950,000)
• Build-to-suit joint venture agreement for development and ownership of 237,500 square foot industrial building in Summerville, SC including over $15 million construction loan and triple net lease agreement and sale of property
• Negotiation of purchase and sale agreement for sale of approximately 41,000 square foot building in Charlotte, NC, with sale-leaseback agreement; 27,000 square foot, 85 month industrial lease

• Represent developer in negotiation of Development Management Agreement for 798,000 SF build-to-suit warehouse building in Statesville, NC

Multi-Family Development

Representation of developer in negotiation of purchase and sale agreements for acquisition of land for development of multifamily projects in

• Savannah, GA (draft joint venture operating agreement incorporating opportunity zone provisions)
• Winston Salem, NC (development of 295-unit apartment project including negotiation of amended and restated joint venture operating agreement)
• Wilmington, NC (negotiation of construction loan documents and development agreement for development of 273-unit apartment project)
• Wilmington, NC (development of 260-unit apartment complex)

• Winston-Salem, NC (development of 250-unit apartment complex)
• Local counsel for developer in connection with $76,000,000 construction loan for multi-family development in Charlotte, NC
• Local counsel for developer in connection with $50,000,000 construction loan for multi-family development in Charlotte, NC
• Local counsel for developer in connection with $60,000,000 construction loan for multi-family development in Raleigh, NC
• Local counsel for developer in connection with $53,000,000 construction loan for multi-family development in Chapel Hill, NC
• Local counsel for developer in connection with $37,687,000 construction loan for multi-family development in Charlotte, NC
• Local counsel for developer in connection with $44,850,000 construction loan for multi-family development in Charlotte, NC
• Local counsel for developer in connection with $38,500,000 construction loan for multi-family development in Raleigh, NC

Mixed-Use Development and Leasing

• Approximately 400,000 square foot adaptive re-use, mixed-use development in Rock Hill, SC, including advising on joint venture agreements for acquisition, development and operation of property and negotiation of office subleases

REIT Acquisitions and Leasing

• Multi-tenant, including US-government, office building in Hobbs, NM
• multi-tenant, including US Government, office building in Boise, ID
• US-government leased office building in Houston, TX
• US-government leased office building in Van Buren, MO
• US-government leased office building in S. Portland, ME
• US-government leased office building in Lakewood, WA

• US-government leased office building in Owensboro, KY

• US-government leased office building in Benton Harbor, MI

• US-government leased office building in Fort Smith, AR

• Representation of buyer in real property acquisition and negotiation of development agreement for 17,000 SF build-to-suit US Government office building in Sebring, FL

Class A Office Leasing

• Representation of landlord owning portfolio of over 1 million square feet of Class A office space located in Charlotte, NC.
• Tenant representation of publicly-traded financial institution in North Carolina headquarters 176,000 SF lease negotiations and other office space in North Carolina, South Carolina, California, Washington, Illinois and Ohio.

Gas Station and Convenience Store Multi-Site Acquisitions and Leasing

• Representation of Irish publicly-traded company affiliate in negotiation of Asset Purchase Agreement and master lease for 38 gas station and convenience store sites in South Carolina and advise on related quick-service restaurant franchise agreements and state and local operating and ABC permits
• Representation of Irish publicly-traded company affiliate in negotiation of Asset Purchase Agreement and master lease for 6 gas station and convenience store sites in South Carolina and advise on related quick-service restaurant franchise agreements and state and local operating and ABC permits
• Representation of Irish publicly-traded company affiliate in negotiation of master lease of 46 gas station and convenience store sites in Michigan, Minnesota and Wisconsin
• Representation of Irish publicly-traded company affiliate in negotiation of master lease of 42 gas station and convenience store sites in Florida

Dispositions

Sale of Property for Manufacturing Bottling Facility (Cabarrus County, NC)

• Advise on recombination and sale of approximately 537 acres of land, including railroad corridor, representing largest investment in Cabarrus County, NC history ($740MM) for development of 2 million square foot bottling facility ($55,000,000)

Sale of Property for North American Headquarters

• Sale and subdivision of approximately 61 acres of land in Cabarrus County, NC for location of cabinetry manufacturer North American headquarters, and negotiation of Declaration of Architectural Standards, Declaration of Restrictions and easement agreements ($7,730,000)

Sale of Property for East Coast Vehicle Reconditioning Facility

• Sale and subdivision of approximately 90 acres of land in Cabarrus County, NC for development of vehicle reconditioning facility and negotiation of utilities and access easements ($8,500,000)

Sale of Medical Office Building (Charlotte, NC)

• Representation of Seller in 1031 like-kind sale of ground tenant interest in medical office building including sublease ($17,500,000).

Sale of Membership Interests (Charlotte, NC)

• Negotiation of membership interest purchase agreement for sale of membership interests owning office and retail buildings located at 435 and 501 E. Morehead Street, Charlotte, NC. ($4,850,000)

Disposition of Nursing Home Facility

• Represent Seller of 35,266 SF single-tenant nursing home facility located in Missouri City, TX ($4,500,000)

Airplane Hangar and Leasing (Colorado Springs, CO)

• Ground lease and sublease agreements for development of 23,500 square foot airplane hangar, construction loan and sale of ground lease interest ($13,040,000)
• Ground lease and sublease agreements for development of 60,000 square foot airplane hangar, construction loan and sale of ground lease interest ($18,379,000)

Medical Office Building Financing (Colorado Springs, CO)

• Advise on refinance of over $12 million permanent loan secured by medical office and retail property

Commercial Condominiums

• Purchase and sale agreement for like-kind exchange acquisition of twenty-seven commercial condominium units in Fort Myers, FL, diligence, including assignment and novation of multiple US Government leases and assignment of office lease ($10,900,000)
• Representation of declarant in connection with condominium matters under NC Condominium Act for approximately 76-acre mixed-use development in Charlotte, NC
• CRE local counsel for borrower group in connection with $2,140,000,000 syndicated facility

Declarations and Commercial Property Owners Associations (Charleston, SC)

• Draft Declarations of Covenants, Conditions, Restrictions and Easements for industrial commerce parks and formation of respective property owners associations

Acquisition of Office Building Park Property (Wake County, NC)

• Local counsel for acquisition of multiple office building park and assignment of related leases ($189,100,000)
• Local counsel for acquisition of multiple office building park and assignment of related leases ($159,100,000)

International Interests

• Negotiation of membership interest purchase agreement for acquisition of membership interests of Florida entity owning office building in St. Thomas, U.S.V.I. leased to U.S. Government. ($6,933,000)
• Negotiate of loan documents for conduit loan secured by Ft. Myers, FL and U.S.V.I leased properties. ($9,800,000)

Pro Bono Representation

• Advise non-profit entity in sale of 128-unit multi-family complex (Section 8 Housing) located in Charlotte, NC

Notable

• Best Lawyers in America, Real Estate Law "Ones to Watch," 2022-2023
• Steering Committee Member, Charlotte Legal Initiative to Mobilize Businesses (CLIMB)
• CALI Award, Secured Transactions
• CALI Award, Contracts I
• Lead Counsel for Appellant on brief and at oral argument, Anderson v. Architectural Glass Construction, Inc. (In re Pfister), 749 F.3d 294 (4th Cir. 2014)
• South Carolina Law Review, Associate Editor in Chief

News

Affiliations

• American Bar Association
• South Carolina Bar Association- Young Lawyers Division
• Member, Charlotte Mecklenburg District Attorney Foundation
• Member, The Sportsman’s Club of Charlotte
• Steering Committee Member, Bechtler Museum of Modern Art Young Visionaries, 2018-2019 

Publications

• Author, Fair Representation in the South Carolina Corporate Income Tax: Combined Reporting as Equitable Apportionment After Media Gen. Commc'ns, Inc. v. S.C. Dep't of Revenue, 62 S.C. L. REV. 743, 2011
• Author, Albemarle Corp. v. AstraZeneca UK Ltd., 62 S.C. L. REV. 527, 2011