SVN Live 11.7.22 Weekly Property Broadcast
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The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
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SVN Live 11.7.22 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ According to a recent analysis by Trepp, sublease availability has been growing in smaller US cities over the past many months. In light of declining needs for office space among some of the nation’s largest employers, several have taken to subleasing to reduce their footprints and costs. ○ Trepp’s analysis suggests an inverse relationship between subleasing activity and multifamily rent growth. Metro areas with high living costs, where many residents were lost during the pandemic, generally see higher rates of subleasing activity, notably Los Angeles and Minneapolis. Atlanta is a notable exception, maintaining strong subleasing activity while having more robust multifamily growth relative to other large metros. Subleasing Activity
- 5. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/Acre $1,195,563 45.8 acres $26,104 LAND | SR 37 SOUTH AND CR 640 | MULBERRY, FL ○ Future land use on the property is IND (Industrial) which lends itself to a variety of uses as it relates to commercial business such as storage, manufacturing and distribution ○ Access to the property is good and the subject is in close proximity to multiple major thoroughfares including State Road 60, State Road 37, US Highway 27, and Interstate 4 SVN | Saunders Ralston Dantzler GREG SMITH greg.smith@svn.com 863.698.1549 BO JAHNA bo.jahna@svn.com 863.557.0320
- 6. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $1,206,625 2,055 SF $587 RETAIL | 1034 MONROE STREET | SANTA CLARA, CA ○ Part of the Silicon Sage Receivership ○ 10th property sold on behalf of the court-appointed receiver ○ Newly constructed ground floor retail condo ○ Warm shell condition ○ Sold to an owner-user (dentist) ROBIN SANTIAGO, SIOR, CCIM robin.santiago@svn.com 408.601.0049 SVN | Capital West Partners
- 7. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $1,650,000 3,567 SF $463 RESTAURANT | 3120 GARDEN ROAD | BURLINGTON, NC ○ ±3,567 SF restaurant property with a drive-thru on ±1.139 acres in busy and growing Triad submarket in Burlington, NC ○ Under contract within 3 weeks of marketing ○ Sold to local restaurant owner/user through local buyer broker ○ SVN | Real Estate Associates, Seth Jernigan, CCIM and Brian Fabricatore, GRI Listing Brokers SVN | Real Estate Associates, Inc. BRIAN FABRICATORE brian.fabricatore@svn.com 919.287.3214 SETH JERNIGAN seth.jernigan@svn.com 919.287.2121
- 8. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Lease Value Lease Terms Size WAYNE CAPLAN wayne.caplan@svn.com 312.529.5791 SCOTT MAESEL scott.maesel@svn.com 312.676.1860 ADAM THOMAS adam.thomas@svn.com 847.219.6383 SVN | Chicago Commercial $2,044,463 10 years 5,343 SF RETAIL | 633 W NORTH AVENUE | CHICAGO, IL ○ Leased to Salon Lofts on a long term basis ○ From initial showing, the transaction took over 18 months to negotiate ○ Prominent Lincoln Park, Chicago location ○ +5,300 SF featured on-site parking and massive +20' glass curtain wall
- 9. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price No. of Units Price/Unit Cap $2,050,000 45 units $45,556 MULTIFAMILY | 2027-2037 DR MARTIN LUTHER KING JR DRIVE | MOBILE, AL ○ Sold above asking price ○ Full 6% commission ○ 7 months to close with zero re-trades ○ SVN Toomey Property Advisors retained to manage property SVN | Toomey Property Advisors STEVEN ROWE steven.rowe@svn.com 251.706.9022 6.1%
- 10. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF WADE HAGA wade.haga@svn.com 859.306.0605 SVN | Stone Commercial Real Estate $2,100,000 15,151 SF $139 OFFICE | 2405 HARRODSBURG ROAD | LEXINGTON, KY ○ Sold to end-user ○ Purchased over asking price due to a bidding war with 1031 exchange buyer
- 11. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $2,450,000 40,000 SF $61 INDUSTRIAL | 120 E BLACKBURN ROAD | MARLOW, OK ○ Purchase of a 40,000 square foot, rail-served industrial manufacturing & warehouse facility, located in Marlow, Oklahoma. ○ 10-year modified absolute NNN sale/lease back at closing; four, 5-year renewal options with 2% increases each term ○ Landlord only responsible for foundation ○ Attractive financing with a rate of 5.25% SVN | Trinity Advisors STEVE FITHIAN, CCIM, CPM, SEC steve.fithian@svn.com 817.886.9118 TRINITY (TRENT) HERRERA trinity.herrera@svn.com 682.704.8789
- 12. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF Cap $2,800,000 28,100 SF $100 SELF STORAGE | 16065 FM 463 | LYTLE, TX ○ 28,100 SF on 2 acres ○ Fenced and paved with automated gates ○ Over $20,000 a month in gross income ○ Immediate upside opportunities SVN | Wilson Commercial Group, LLC KRISTEN ASMAN kristen.asman@svn.com 614.370.9077 7.45% SVN | Pastrano Commercial Real Estate GERARD R.C. PASTRANO, CCIM gpastrano@svn.com 210.354.0400
- 13. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF Cap $5,110,000 23,291 SF $219 OFFICE | 1400 E KATELLA AVE | ORANGE, CA ○ Value add office/retail property through lease conversions, filling vacancies and stabilizing tenants ○ Extended escrow due to change of financial markets and repairs required while in escrow ○ Repeat client and local investor purchased the property SVN | Vanguard JON DAVIS jon.davis@svn.com 949.558.0302 4.56%
- 14. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $10,100,000 15,828 SF $638 MIXED-USE | 800 W WASHINGTON BOULEVARD | CHICAGO, IL ○ Generated multiple offers even with today's challenging macroeconomic environment, achieved pricing over $630/SF ○ Sold to developer with large development plans including Equinox, retail, residential and office uses across the street ○ Long-time client of the team, originally listed the property in 2018 then removed the listing and took the property back to market in 2022 SCOTT MAESEL scott.maesel@svn.com 312.676.1860 CHAD SCHROEDL chad.schroedl@svn.com 312.756.7329 DREW DILLON drew.dillon@svn.com 734.223.2315 ADAM THOMAS adam.thomas@svn.com 847.219.6383 LOGAN PARSONS logan.parsons@svn.com 312.756.8446 SVN | Chicago Commercial
- 17. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee No. of Units SVN | Angelic MULTIFAMILY | 3010 WINDSOR ROAD | AUSTIN, TX Subject to Offer 3% 10 units ○ Immediate opportunity to add value due to short-term nature of in-place tenants with below-market rents ○ Austin rents have grown at roughly double that of the national pace over the past year ○ Premier neighborhood in the West Austin submarket, just west of downtown and The University of Texas GABRIEL SILVERSTEIN, SIOR gabriel.silverstein@svn.com 512.953.3320 ALEX PROVOST alex.provost@svn.com 707.508.6031 SVN | Traditions STEVE RODGERS, CPM, CCIM steve.rodgers@svn.com 214.914.1357 TRAVIS TAYLOR, MAI, CCIM travis.taylor@svn.com 210.391.4514
- 18. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ Subject to Offer 3.5% 59,060 SF ○ Ideal redevelopment opportunity for a boutique hotel or multifamily ○ Walking distance to downtown attractions and amenities ○ 1/3rd of a mile from I-75 North ○ 75+ on site parking spaces, with the opportunity to expand SVN | Ascension Commercial Realty RAMI SEBAI rami.sebai@svn.com 419.377.0797 HOSPITALITY | 1117 JEFFERSON AVENUE | TOLEDO, OH
- 19. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SVN | Commercial Partners MIXED-USE | 800-814 N FEDERAL HIGHWAY | HALLANDALE BEACH, FL Subject to Offer .63% 104,950 SF .52 acres ○ Building size: 104,950 SF, lot size: .52 acres ○ Seller to deliver 12-story class-A mixed use tower, available for Investment or owner- user as headquarters location ○ 270 feet of frontage directly on Federal Hwy (US-1), equidistant between Miami and Fort Lauderdale ○ Situated on signalized intersection, providing premier access to all directions of traffic ○ Combined daily traffic count of 44,000 vehicles ADAM H KLEIN adam.klein@svn.com 561.282.9296 ELON GERBERG elon.gerberg@svn.com 954.299.9456
- 20. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF OFFICE | 1717 W 6TH AVE | SPOKANE, WA $1,550,000 $46,500 10,404 SF ○ Well maintained office building close to downtown and the Spokane Medical Community ○ New HVAC in 2022-52 car parks ○ Parking lot has been recently re-sealed and striped ○ 5,200 SF available for owner/user $149 SVN | Cornerstone NATE GANT nate.gant@svn.com 509.993.4440 MATTHEW BYRD matt.byrd@svn.com 509.499.9229
- 21. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $1,560,000 $46,800 2.25 acres ○ Commercial general ○ Near under construction new development Tuckers Point (1,389 res units, 300 multi units, and 60 acres +/- of commercial) SVN | Commercial Partners GEORGE WALLA george.walla@svn.com 239.994.0683 HUNTER MCCARTHY hunter.mccarthy@svn.com 941.421.9569 FOR SALE | LAND | 11069 TAMIAMI TRAIL | PUNTA GORDA, FL $693,333
- 22. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $1,600,000 $48,000 8,842 SF ○ Grade level industrial site in North Orlando MSA ○ 3 phase (200v/240a) power with diesel generator ○ Income producing with tenant on modified gross lease SVN | Saunders Ralston Dantzler RAFAEL MENDEZ, CCIM rafael.mendez@svn.com 407.748.8970 FOR SALE | INDUSTRIAL | 1969 CORPORATE SQUARE | LONGWOOD, FL $181
- 23. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SVN | Trinity Advisors OFFICE | 1313 OATES | MESQUITE, TX $2,400,000 $72,000 17,015 SF ○ A well-located, free-standing, single-tenant office building located near the major intersection of Hwy 635 and I-30 near Dallas, TX ○ A unique layout allows for the flexibility of loading/unloading, or inspection area via 3 drive-through bays ○ Overabundance of parking with a ratio of 8 spaces per 1,000 SF. (135 surface parking spaces) ○ Available for sale or lease STEVE FITHIAN, CCIM, CPM, SEC steve.fithian@svn.com 817.886.9118 TRINITY (TRENT) HERRERA trinity.herrera@svn.com 682.704.8789 $141
- 24. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre LAND | 3043 OCEAN HEIGHTS | EGG HARBOR TOWNSHIP, NJ $2,600,000 $65,000 8.9 acres ○ Fully approved self storage development site ○ Approved for 107,750 SF of self storage and covered boat storage ○ Market competitors are 100% occupied ○ Market rents are $26 / SF and SVN Proforma shows a 10.5% yield on cost ○ Trade area includes Atlantic City $292,135 SVN | Hardisty Commercial Realty HANS HARDISTY, CCIM, MBA hans.hardisty@svn.com 914.489.7909 SVN | Commercial Realty NICK MALAGISI, SIOR nick.malagisi@svn.com 716.310.8314
- 25. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF MULTIFAMILY | GOLF VIEW VILLAS - 1701-1715 LINCOLN ST | HOLLYWOOD, FL $2,900,000 $72,500 6,939 SF ○ Value add through repositioning, redevelopment or STR/AirBnb model ○ FH-2 zoning | development potential | 3.0 FAR | 140' height allowance ○ No units per acre limitation | FAR only | lot size 20,068 SF ○ Current rents below market average | unit mix (13) studio | (5) 1 bed 1 bath $418 SVN | Commercial Partners JOHN ANDREWS john.andrews@svn.com 561.282.9298 STEVEN PAULSEN steven.paulsen@svn.com 904.282.9299 MASON HIGHMAN mason.highman@svn.com 561.282.9297
- 26. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap SVN | Denver Commercial RETAIL | 1301 GRAND MARKET AVE | BERTHOUD, CO $2,931,765 $58,635 2,225 SF ○ Brand new Starbucks | current model w/ easy mobile pickup & drive-thru ○ Excellent visibility and easy access to HWY 287 ○ Investment grade tenant | BBB+ outlook stable (S&P) ○ 10-year NNN lease | corporate guarantee | brand new class A construction ○ Limited landlord responsibilities KEVIN MATTHEWS kevin.matthews@svn.com 303.974.5893 TROY MEYER troy.meyer@svn.com 303.974.5737 $1,318 4.25%
- 27. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap SVN | Denver Commercial RETAIL | 7969 E ARAPAHOE RD | GREENWOOD VILLAGE, CO $8,628,000 $215,700 29,870 SF ○ Affluent core location | 10-year NNN leases in place ○ Brand new roof and HVAC units | surrounded by national credit tenants ○ Excellent visibility from Arapahoe Rd ○ One of the busiest thoroughfares in the Denver Metro ○ Fully renovated in 2022 | easy access | abundant parking KEVIN MATTHEWS kevin.matthews@svn.com 303.974.5893 TROY MEYER troy.meyer@svn.com 303.974.5737 $289 6.25%
- 28. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SVN | Chicago Commercial OFFICE | 1250 & 1300 S GROVE AVENUE | BARRINGTON, IL $4,999,994 $100,000 92,573 SF ○ Well established, value-add office building portfolio ○ Assumable, non-recourse loan at a 3.25% interest rate ○ Strong tenant mix with many long-term, stable tenants ○ 35 miles from Chicago, in a very affluent suburb, Barrington ○ No deferred maintenance/professionally managed property ○ NOI - $314,099 $54 OLIVIA CZYZYNSKI olivia.czyzynski@svn.com 312.676.1862 NATHALIE FISHER nfisher@svn.com 312.414.0602 JENNIFER HOPKINS jennifer.hopkins@svn.com 312.676.1865
- 29. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $5,750,000 $71,875 16 units ○ Visit www.SFRhub.com and search for portfolio 101295 for more information ○ 12 of the 16 properties were built after 2000. The remaining four were built in 1998, 1985, 1983, and 1978 ○ Majority brick exteriors ○ $359,375 average asking price per home is below the median home price of $390,600 ○ Average monthly rent of $1695 is 14% below current market rents SVN | SFRhub Advisors MICHAEL FINCH michael.finch@svn.com 480.797.9825 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 $359,375 FOR SALE | SFR PORTFOLIO | 16 HOME SFR INVESTMENT PORTFOLIO | FORT WORTH, TX SVN | Trinity Advisors STEVE FITHIAN steve.fithian@svn.com 817.288.5525
- 30. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $6,850,000 $205,500 2.02 acres ○ 215 total slips: 123 Indoor, 76 Outdoor racks [covered and uncovered], 16 wet slips ○ 10% CAP Rate, NOI growth trend for the previous 3 years ○ High occupancy ○ Established market dominant boat rental fleet ○ High growth in area expected to continue with increased demand for marina storage and recreation ○ Marina is well capitalized for continued growth ○ For more information, please visit www.svnmarinas.com MARINA | 10806 W HALLS RIVER RD | HOMOSASSA, FL 10% $3,391,089 SVN | Safe Haven Advisors DAVID KENDALL david.kendall@svn.com 561.723.8463 MIKE HOWELL mike.howell@svn.com 617.270.4915 SARAH DELANO sarah.delano@svn.com 703.309.3162
- 31. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2022 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $9,000,000 $180,000 13,000 SF ○ 7,300 SF office / 5,700 SF warehouse ○ 3.4 acre walled site ○ Perfect opportunity for fleet service, contractor yard, corporate headquarters, etc. ○ Currently leased to July 1, 2023 INDUSTRIAL | 2001 N ANDREWS AVENUE | POMPANO BEACH, FL $692 LES BYRON, SIOR, CCIM les@svncr.com 954.401.4713 KEITH KIDWELL, SIOR, CCIM keith@svncr.com 954.234.8777 STEVE DAVIS steve@svncr.com 954.650.7824 SVN | Commercial Realty
- 32. www.SVN.com Events & Webinars TUESDAY NOVEMBER 8 Institutional Capital Markets Council Meeting 10:00 AM PT | 1:00 PM ET WEDNESDAY NOVEMBER 9 Best Practices Webinar 8:30 AM PT | 11:30 AM ET Date: November 7-12, 2022
- 33. THANK YOU for joining us!
- 34. Please visit www.svn.com for more information on the properties featured on today’s call and to view all of SVN’s active listings. DISCLAIMER This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. All SVN® offices are independently owned and operated.