John Letherman, CCIM
John Letherman, CCIM, a partner at FM Stone Commercial, got his start in real estate in 1968 shortly after completing a 3-year tour in the U.S. Army Transportation Corps as a Truck Company Commander. He joined the FM Stone team in 1985 with many years of experience in home building, development and real estate sales.
Today, with his son Pete Letherman and assistant Mary Thomas, John specializes in selling and leasing commercial and industrial properties and in selling multi-tenant investments in Northcentral Indiana. John also provides development services for owners, developers and investors with a virtual group of development specialists. A third generation realtor, John has been highly successful in brokerage and development since he started. In addition to his development work, John’s brokerage transactions have exceeded $125 million since joining FM Stone Commercial.
John earned the Certified Commercial Investment Member (CCIM) designation in 1986. A CCIM is a recognized expert in the commercial and investment real estate industry. CCIMs have completed a designation curriculum that covers ethics, interest-based negotiation, financial analysis, market analysis, user-decision analysis, and investment analysis for commercial investment real estate. CCIMs must complete a portfolio demonstrating the depth of their commercial real estate experience and sit for a comprehensive examination.
Deeply committed to making Elkhart County a better place for families and business, John is very involved in many community and professional activities. He was elected to the Elkhart County Council in 1988 and continues to serve on the Council today. John is also involved in many other groups including the Elkhart County/City Planning Advisory Committee, Economic Development Corporation of Elkhart County and Michiana Regional Council of Governments.
- Commercial & Investment Sales & Leases
- Industrial Development & Sales
- Land Assemblages
- John Carroll University, Bachelor of Science in Business
- Attended Butler Graduate School of Business, Indianapolis
- Certified Commercial Investment Member (CCIM), Member
- National Association of Realtors (NAR), Member
- Indiana Association of Realtors (IAR), Member
- Indiana Commercial Board of Realtors (ICBR), Member
- Licensed Real Estate Broker, State of Indiana
- Elkhart County Council, Elected from 1988 to Present
- Elkhart County Council, President 2001 to 2011
- Economic Development Corp. of Elkhart County, Founding and Current Member, 2001 to Present
- Michiana Regional Council of Governments (MACOG), Representative 1988 to Present
- Michiana Regional Council of Governments (MACOG), President 1992 to 1993 and 2008
- Elkhart County/City Planning Advisory Committee, Chairman 1986 to Present
- Elkhart County Plan Commission 1972 to 1985
- Board of Zoning Appeals 1972 to 1983
- National Association of Home Builders, Member
- Builders Association of Elkhart County, 1972 to Present
- Builders Association of Elkhart County, President in 1992
- US 31 Coalition, Founding and Current Member, 1999 to Present
- US 31 Coalition, President 2005 to 2012
- Indiana Toll Road (ITR) Citizen Advisory Board Member, 2007 to 2008
- Appointed to the Indiana Toll Road Oversight Board by Governor Daniels, April 2008 to Present
- Frequent guest lecturer at Mendoza School of Business at the University of Notre Dame
Recent Major Transactions
- At Elkhart, Indiana I-80/90 Toll Road Interchange: Assembly, design, zoning, leasing and outlot sales at North Point Plaza.
- Office leasing, outlot sales, flex construction and leasing at Windsor Crossing, Elkhart, IN
- At Middlebury, Indiana I-80/90 Toll Road Interchange: Assembly, development and sale of Greenfield Industrial Park (152 acres). Also, current development of a 147-acre light industrial and warehouse park at that location.
- US 33 Corridor between Goshen and Elkhart: Developed and sold the Elkhart Road PUD (Lowe's, Applebee’s, Elkhart General Hospital medical building, Buffalo Wild Wings, etc.)
- Acquired for an investor and sold sites at The Willows in Goshen, IN for a large retail project that included Target, Kohl’s and Hobby Lobby.
- At the Southwest Corner of the US 20 Interchange and CR 17: Assembled and zoned 129 acres; Sold 72 acres to Ivy Tech College for a regional campus in December 2008; and Developing 47 acres of commercial space adjacent to the campus and along the CR 17 frontage south of US 20.
- Land assemblage, zoning and sale of land for: Four conventional apartment projects (approximately 900 units); Five Sec 42 apartment projects; Eight motel projects, at least 10 C-Store sites; 12+ bank branch sites; 10+ restaurant sites; and two assisted living projects since 1985.
- Assemblage, zoning and sale of Greenfield Commercial Corridor in Elkhart: Sales to Ryan’s Steakhouse, Willie's Chili & Doghouse (2001) and sale of 13.5 acres to Lowe’s in 2007.
- Sale of: Shasta Industries complex, Leer Fiberglass plant, Lippert Components sites, Rexhall Industries plants, Klinger Properties industrial buildings, Homan Lumber complex, Reith Riley construction properties, Fall Creek housing plant site, LRV (Koneta) plant, Coachmen industrial properties and Jayco commercial and industrial properties, among many others.
Partial Client List
- Cracker Barrel
- Holiday Inn Express
- Red Lobster
- Olive Garden
- Coachmen Industries
- Greenfield Corporation
- Tuff Properties
- Frontier Investments
- Advance Auto
- First Source Bank
- Lake City Bank
- First State Bank
- Edward Rose Apartments
- Pedcor Investments
- Sterling Investments
- Ryan's Steak House
- Blockbuster Video
- Palmer’s Ace Hardware
- Martin Ace Hardware
- Jayco Corporation
- Teacher’s Credit Union
- Agree Realty
- Universal Forest Products
- First Holding Company
- Welsh Oil
- Klink Trucking
- Geenan DeKock Properties
- CDC Real Estate
- Ivy Tech Community College
- Bayer Federal Credit Union
- Banks Industries
- Communitywide Federal Credit Union
- Star Fleet Trucking