Michael N. Palm, Sr.
Mike joined Coldwell Banker Commercial Business Brokerage Group after 28 years of extensive background and experience in the private business environment. This included growing his 3rd generation family food service equipment and design business, Palm Brothers, from $3M in 1984 to $30M in 2000 and completes a roll-up with seven similar family businesses creating a $200M national distribution company. Since 2000, Mike has financed, acquired and sold over $60M of his businesses he has personally owned providing him unique insights into the issues faced by business owners looking to purchase and/or sell in today’s economy. He has served on the Board of Directors of the National Association of Truckstop Operators (NATSO) and the Food Service Equipment Distributors Association (FEDA). After being recruited by Coldwell Banker Commercial Griffin to develop and head up the Business Brokerage Group, Mike has been recognized in 2013 and 2012 as the #1 Commercial Agent for Coldwell Banker Commercial in Minnesota and #1 in North America in the Hospitality Segment.
Mike is proud to work closely with his son, Mike, Jr., as an integral part of the brokerage team. Over the past few years, Mike sold over $100M of a wide variety of businesses including liquor stores, convenience stores, truckstops, distributorships, motels, resorts, restaurants, sports teams, etc. and his over many years of ownership, operations, and acquisitions provide his clients with real life experience to provide necessary advisory during the complex buy or sell sale process. Mike was also recognized as the Top Business Listing Group and achieved Top Producing Agent for 2010 for Calhoun Companies.
Mike and his wife Shannon of 33 years, have 4 boys including Michael Jr (32) who works as an associate/agent with Coldwell Banker Commercial (CBC) Business Brokerage, Trent (29) who is currently a trader with Viking Forestry Products, Chris (26) who is a commercial agent with CBC and Ryan (26) who works in CBC Property Maintenance Management. In September of 2017, they welcomed a new grandson, Christopher to the family. Mike and his wife reside in Wayzata, MN. Mike has served on the Board of Directors of the Minneapolis South Young Life Youth Ministry Outreach and earned his Business Degree from Arizona State University.
- Business Brokerage
- Business, Arizona State University
Michael N. Palm, Jr.
Coldwell Banker Commercial
6009 Wayzata Blvd., Suite 1
Minneapolis, MN 55416
Phone: (612) 904-7818
Fax: (612) 338-5288
Mike, Jr. has been a member in the Business Brokerage Group for over 8 years and as a team have achieved the #1 ranked 2012 and 2013 Agents with Coldwell Banker Commercial in Minnesota and also Top 1% in all of North America. The various market segments served are restaurants, bars, hotels, resorts, truck stops, computer services, retail stores, auto repair, manufacturing, sports teams, convenience stores and many other businesses throughout the Midwest.
Mike was also a member of the Business Brokerage Team that was awarded the #1 Coldwell Banker Commercial Agents in 2012 and 2013 sales in the Hospitality Market Segment in North America as this is a specialty focus given the many deep relationships and 100 year reputation of the 4th generation family business, Palm Brothers Food Service Equipment/Design.
Mike is currently working on several businesses in various stages of listing, marketing, Letters of Intent, Purchase Agreements, and sales/closings for 2018. The Business Brokerage Team takes great pride in serving its clients and analyzing the right valuation, sourcing the best Buyers and assisting in the transition to new opportunities and interests for its selling business Owners.