SVN Live 10.24.22 Weekly Property Broadcast
Download as PPTX, PDF0 likes172 views
The document provides economic updates on U.S. office occupancy levels, with forecasts suggesting a return to around 60% occupancy as firms shift to a hybrid work model. Kastle's data reveals recent occupancy has modestly increased to an average of 47% across ten cities, attributed to renewed back-to-office efforts after Labor Day. Additionally, it outlines various commercial property transactions in multiple locations, highlighting sale prices, sizes, and market trends.
SVN Live 10.24.22 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ At a recent CRE conference, Kastle Data Systems Chairman Mark Ein, a panelist at the event, forecasted the US office occupancy levels could return to 60%. ○ The logic being that many firms and their employees are coalescing around working at the office for three days out of the week, amounting to 60% of the time. While simplistic, Kastle points to evidence of this across some its tracked cities. In New York, for example, registered an average occupancy of 43.5% during the week of October 4th , but hovered close to 60% on the Wednesday of that week. Kastle’s barometer measures the percentage of office tenants that use the space in a given week, rather than a simple measure of space usage. ○ According to Kastle’s workplace barometer index, its 10- city average looms around 47% as of their most recent estimates, a modest uptick from the previous six months, where occupancy has stalled around 43%. The recent uptick follows another back-to-office push by some firms following the Labor Day holiday. Office Market Predictions
- 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 BILL REILLY bill.reilly@svn.com 720.863.6675 SVN | Denver Commercial $1,475,000 4.2 acres $351,190 LAND | 4020 CENTER PARK DRIVE | COLORADO SPRINGS, CO ○ Great location ○ Could be subdivided for an additional development
- 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 Lease Value Lease Terms Size STEVE DAVIS steve@svncr.com 954.650.7824 KEITH KIDWELL, SIOR, CCIM keith@svncr.com 954.234.8777 LES BYRON, SIOR, CCIM les@svncr.com 954.401.4713 SVN | Commercial Realty $2,048,760 72 months 26,000 SF INDUSTRIAL | 2851 EVANS STREET | HOLLYWOOD, FL ○ Industrial tenant rep assignment ○ International Silver Minting Company ○ Extensive tenant and landlord improvements to building
- 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 ERIC LARPENTEUR eric.larpenteur@svn.com 503.482.2812 SVN | Imbrie Realty $2,200,000 17,180 SF $128 OFFICE | 8101 SW NYBERG ST | TUALATIN, OR ○ Under managed property ○ Vacancy, deferred maintenance and tired aesthetic ○ Seller to carry 55%, she will make more in interest payments than she made from rents ○ Contract to close in 49 days
- 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 Sale Price Size Price/SF Cap CONNIE NEVILLE, JD nevillec@svn.com 781.696.6241 SVN | C.M. Neville & Associates, Inc. $2,425,000 30,289 SF $80 SELF STORAGE | 7 STORAGE LANE | SEDGWICK, ME ○ 2 Property portfolio in 2 towns on the Blue Hill Peninsula ○ 13 Buildings, 216 units ○ 30,289 nrsf ○ Out of state buyer looking to expand into another New England state ○ Achieved 97% of list price for the sellers 6% ERIK URBANEK ME #DB914939 erik.urbanek@svn.com 207.613.7400 SVN | The Masiello Group
- 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 Size Price/SF DAVID DUNN, SIOR, CCIM david.dunn@svn.com 817.829.2828 ANNA LEE MOORE annalee.moore@svn.com 972.670.5592 SVN | Dunn Commercial $2,500,000 24,000 SF $104 INDUSTRIAL | 6117 WILLARD ROAD | FORT WORTH, TX ○ Multi-tenant investment sale ○ Awarded the leasing assignment as buyer wanted reliable, dependable boots on the ground representation ○ Zoning variance for auto use was approved by city council less than 24 hours before closing ○ Anna Lee's first closed sale transaction
- 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 EDDIE GONZALEZ eddie.gonzalez@svn.com 480.425.5508 ROMMIE MOJAHED roomie.mojahed@svn.com 480.425.5534 LINDSEY DULLE lindsey.dulle@svn.com 480.425.5535 SVN | Desert Commercial Advisors $2,600,000 21,672 SF $120 OFFICE | 4801 E MCDOWELL RD | PHOENIX, AZ ○ 100% vacant at purchase ○ Buyer came with tenants in tow ○ 90% pre-leased during 45 days due diligence period ○ Experienced buyer, purchased as an investment property ○ Buyer has started full interior renovation
- 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/Acre HANS HARDISTY, CCIM, MBA hans.hardisty@svn.com 914.489.7909 SVN | Hardisty Commercial Realty $3,500,000 2 acres $1,750,000 SELF STORAGE | 688 CRESCENT ST | BROCKTON, MA ○ Sold site plan approved for 100,000 gross SF of self-storage development ○ The facility is designed as a 3-story big box climate building ○ 103,000 +/- people in the three-mile radius ○ 3.5 SF / capita and $25 / SF market rents ○ SVN solicited 7 offers in 2 weeks from qualified developers (all 10% within asking price) CONNIE NEVILLE, JD nevillec@svn.com 781.696.6241 SVN | C.M. Neville & Associates, Inc.
- 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 CARLOS MORENO carlos.moreno@svn.com 702.527.7652 SVN | The Equity Group $6,150,000 36,083 SF $170 RETAIL | 3603 N LAS VEGAS BOULEVARD | LAS VEGAS, NV ○ 3 parcel assemblage ○ Approx. 5 minutes from Nellis AFB and 15 minutes from I-15 ○ Listed property for lease in 2020 at 39% occupancy ○ Filled to over 75% occupancy before putting on the market for sale ○ Sold at 95% occupancy 6.20%
- 15. 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 | Menish Commercial Real Estate AUCTION | OFFICE | 131 E MAIN STREET | GREENVILLE, KY Absolute Auction 2% 36,608 SF ○ Absolute auction - November 12th at 11:30 am ○ Sells to the highest bidder regardless of price ○ Selling in two tracts ○ Tract 1 36,608 SF, 1.501 Acres ○ Tract 2 0.694 Acres 1.19 Acres ○ Great redevelopment opportunity for multi-family, retail or office BILL MENISH bill.menish@svn.com 502.939.0399
- 16. 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 $1,550,000 $46,500 2,950 SF ○ Opportunity zone | oversized lot 14,627 SF ○ High value add potential | rent raise program ○ High potential for redevelopment | +/- 22 units indicated by city ○ 40%+ loss to lease | compare current rents to market ○ Most renovations completed +/- 2019 | roof, plumbing, electrical ○ Desirable unit mix (1) 2/1, (6) 1/1, (2) studio ○ Cap rate - 4.55% SVN | Commercial Partners JOHN ANDREWS john.andrews@svn.com 561.282.9298 STEVE PAULSEN steven.paulsen@svn.com 561.282.9299 MASON HIGHMAN mason.highman@svn.com 561.282.9297 FOR SALE | MULTIFAMILY | BROADWAY GARDEN APARTMENTS | WEST PALM BEACH, FL
- 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 Size Price/Acre Cap SVN | Safe Haven Advisors FOR SALE | OTHER | 231 PARADISE POINT DR | COLUMBIANA, AL $3,200,000 $192,000 24 acres ○ 24+/- acres of upland on Lay Lake off the Coosa River ○ 48,000 sf of enclosed covered storage for up to 120 boats with in/out service provided ○ 31+/- RV sites with full hookups ○ Expansion of both covered boat storage and RV sites is possible ○ 90+ seating capacity restaurant ○ The marina is complimented by a 4,500 sf full-service marine repair facility ○ Visit www.svnmarinas.com DAVID KENDALL david.kendall@svn.com 561.723.8463 SARAH DELANO sarah.delano@svn.com 703.309.3162 10% $133,333 SVN | Toomey Property Advisors JUSTIN TOOMEY justin.toomey@svn.com 251.544.5484
- 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 No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $4,397,000 $109,925 37 units ○ Visit www.SFRhub.com and search for portfolio 101173 for more information ○ 37-home SFR portfolio scattered about Pampa, Texas ○ Asset mix includes 2 one-bedroom, 15 two-bedroom, 16 three-bedroom, 3 four- bedroom and 1 five-bedroom homes ○ All the homes are self-managed ○ Average vintage of 1951 ○ Leased to fully vetted tenants SVN | SFRhub Advisors TIM ORSCHELN tim.orscheln@svn.com 480.291.4330 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 $118,838 5.27% FOR SALE | SFR PORTFOLIO | 37 HOME SFR INVESTMENT PORTFOLIO | PAMPA, TX SVN | Trinity Advisors STEVE FITHIAN steve.fithian@svn.com 817.288.5525
- 19. www.SVN.com Events & Webinars THURSDAY OCTOBER 27 Occupier Services Council Meeting 10:00 AM PT | 1:00 PM ET THURSDAY- SUNDAY OCTOBER 27-30 SVN Partners Circle Date: October 24-29, 2022
- 20. THANK YOU for joining us!
- 21. 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.