SVN Live 06.28.21 Weekly Property Broadcast
Download as PPTX, PDF0 likes2,018 views
The June 28, 2021, property broadcast reports an acceleration in the national economy attributed to increased vaccination rates, though supply chain disruptions remain a challenge. Key sectors experiencing increased consumer spending include leisure and travel, while construction firms face material and labor shortages. Several notable real estate transactions were highlighted, indicating a strong market despite ongoing constraints.
SVN Live 06.28.21 Weekly Property Broadcast
- 1. WEEKLY PROPERTY BROADCAST June 28, 2021
- 3. www.svn.com PAGE | BEIGE BOOK ● According to the latest Beige Book Summary, an anecdotal report produced by The Federal Reserve Bank’s Board of Governors, the national economy accelerated slightly between April and May, as several districts noted positive effects on the economy stemming from increased vaccination rates and relaxed social distancing measures. Many of those surveyed also cited adverse impacts of supply chain disruptions. ● Notable increases in consumer spending were present in the leisure, travel, and restaurant sectors while sales of durable goods, such as vehicles, held steady. Still, producers continued to face constraints from supply chain challenges. Manufacturers and construction firms reported material and labor shortages in addition to delivery delays, while homebuilders noted strong demand that has begun to outpace their capacity to build. ECONOMIC UPDATES PROVIDED BY
- 4. CLOSED DEALS
- 5. Sale Price $ Size Price /SF $ Transaction Highlights Property Details 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. © 2020 SVN International Corp. RESTAURANT | 111 GREEN BAY ROAD | WILMETTE, IL SVN | Chicago Commercial JIM MARTIN jmartin@svn.com 312.756.7356 MARCUS SULLIVAN msullivan@svn.co m 312.756.7357 • Cash buyer • 30-day close • Buyer increased their original offer by $210,000 1,310,000 5,400 SF 243
- 6. Sale Price $ No. of Units Price /Unit $ Transaction Highlights Property Details 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. © 2020 SVN International Corp. MULTIFAMILY | ROCKFORD PORTFOLIO | ROCKFORD, IL SVN | Chicago Commercial REID BENNETT, CCIM reid.bennett@svn.com 773.251.7342 CODY DORAN cody.doran@svn.com 309.235.0995 • 16th Rockford property sold • Nearing the end of the LIHTC compliance period • Sold to a market rate operator 2,618,000 77 34,000
- 7. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 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. © 2020 SVN International Corp. RETAIL | 527-585 BEVILLE ROAD | DAYTONA BEACH, FL SVN | Alliance Commercial Real Estate Advisors - Ormond Beach MICHAEL BAXTER michael.baxter@sv n.com 386.999.1762 • 22 unit strip center, comprised of 5 buildings located on Beville Road in South Daytona • 7.50% cap rate at existing income with upside • 33,600 square feet of buildings on 3.41 prime commercial acres 2,700,000 33,600 SF 80.36 7.49%
- 8. Sale Price $ No. of Units Price /Unit $ Cap Transaction Highlights Property Details 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. © 2020 SVN International Corp. MULTIFAMILY | 5860 MAIN STREET | MILLBROOK, AL SVN | JJMottram JOHN MOTTRAM john.mottram@sv n.com 334.201.5002 SVN | Chicago Commercial REID BENNETT, CCIM reid.bennett@svn.com 773.251.7342 CODY DORAN cody.doran@svn.com 309.235.0995 • Lost out on listing 3 years ago to a competitor who over-promised • Kept in touch and got a second chance • Seller commented that our team acted more as advisors than as brokers • Multiple offers-under contract within 30 days • Sold at ask price 2,855,000 40 71,375 6.96
- 9. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 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. © 2020 SVN International Corp. INDUSTRIAL | 1425-55 TONNE ROAD | ELK GROVE VILLAGE, IL SVN | Chicago Commercial (Rosemont) JOHN T. JOYCE, CCIM john.joyce@svn.co m 847.233.1178 DANNY VANECKO daniel.vanecko@sv n.com 847.464.8470 • 51,700 SF • Investment sale completed • $3,043,000 or $58.85 PSF • 8.84% cap rate 3,043,000 51,700 SF 58.85 8.84%
- 10. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 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. © 2020 SVN International Corp. RETAIL | 3830 RUCKRIEGEL PKWY | LOUISVILLE, KY SVN | Menish Commercial Real Estate RON PREGLIASCO ron.pregliasco@sv n.com 314.503.3344 • Long-term tenants, perfectly maintained • Walmart neighborhood market shadowed; out lot contains McDonald’s • Banking and retail area; surrounded by residential • NNN investment • Rapidly expanding and extremely stable Jeffersontown market • Stabilized neighborhood center • Multiple letters of intent within 7 days • Closed at 98.5% of asking price • Seller has been client for 25 years - have well over $40,000,000 transactions with seller 3,350,000 20,584 SF 162.75 8.2
- 11. Sale Price $ Size Price /Acre $ Transaction Highlights Property Details 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. © 2020 SVN International Corp. LAND | AMELIA CONCOURSE | FERNANDINA BEACH, FL SVN | First Coast Commercial Real Estate Specialists GLENN PALMER glenn.palmer@svn .com 904.251.5109 • Magnificent 87 acre PUD in Fernandina Beach, FL • Fully approved and engineered 247 single family lots • The last PUD approved by Nassau County under the "old" impact fees • First residential development for a new single family developer entering NE Florida market 5,805,500 87 acres 66,718
- 12. www.svn.com PAGE | FEATURED INVENTORY: ± $24,249,000 BUY-SIDE COMMISSION: ± $591,485 FEATURED INVENTORY FINANCIAL SUMMARY
- 13. Price $ Buy Side Fee Size Property Highlights Property Details 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. © 2020 SVN International Corp. SELF STORAGE | 1750 N LAWNDALE | CHICAGO, IL SVN | Chicago Commercial DAVID COUPE david.coupe@svn.com 312.789.4866 • Call for offers due July 9, 2021 at 6pm • New industrial conversion completed Feb 2020 • Chicago NW side infill site • 100% climate controlled • ONLY 3.8 SF per capita of self storage in 2-mile trade area • Drive in and dock access • Adjacent to the '606' trail with 1.2 million pedestrian visitors per year • 46,084 net rentable SF • 612 lockers • 48%+ current occupancy Call for offers 69,300 SF 2%
- 14. Price $ Buy Side Fee $ No. of Units Price /Unit $ Pro Forma Cap Property Highlights Property Details 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. © 2020 SVN International Corp. MULTIFAMILY | 10163 GUIDY LANE | PENSACOLA, FL SVN | Southland Commercial LISA BRADLEY lbradley@svn.com 850.712.2232 • Newly renovated 18 unit apartment property • Fantastic location within walking distance to shopping and restaurants • Located near UWF, Scenic Hills Country Club, and West FL Hospital • Easy maintenance brick siding with ample parking 2,350,000 3% 18 5.82% 130,555.56
- 15. Price $ Buy Side Fee $ Properties Cap Rate Property Highlights Property Details 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. © 2020 SVN International Corp. SFR PORTFOLIO | 8 MULTIFAMILY TOWNHOME BFR INVESTMENT PORTFOLIO | PHOENIX, AZ SVN | SFRhub Advisors JEFF CLINE jeffrey.cline@svn.com 480.441.5354 MICHAEL FINCH michael.finch@svn.com 480.797.9825 • Visit www.SFRhub.com and search for portfolio 100800 for more information • New construction multifamily attached townhome build-for-rent opportunity • Establish significant pipeline with developer/builder in Phoenix market • Homes will be finished & move-in ready summer 2021 • All units are spacious 3-bed, 2.5-bath homes • The great location supports multiple exit strategy options 3,399,000 50,985 8 5.34% (Stabilized Y1)
- 16. Price $ Buy Side Fee $ No. of Rooms Price /Room $ Cap Property Highlights Property Details 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. © 2020 SVN International Corp. HOSPITALITY | 400 PROSPECT ST. | BINGHAMTON, NY SVN | Imperial GREGG MARZANO gregg.marzano@svn.com 610.248.4389 RAY STARNER ray.starner@svn.com 484.245.1017 SVN | Hamm & Company TOM HAMM HammT@svn.com 203.653.5171 • Opened 2016 • Available below replacement costs • Award Winning • Excellent highway access to I-88, I-81, Route 17 and 86 • Easy Access to Binghamton Sports Complex, Lockheed Martin, Rockwell Collins 4,600,000 3% 57 80,701.75 5.41
- 17. Price $ Buy Side Fee $ No. of Rooms Price /Room $ Cap Property Highlights Property Details 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. © 2020 SVN International Corp. HOSPITALITY | 232 MAIN ST. DICKSON CITY/SCRANTON, PA | DICKSON CITY, PA SVN | Imperial GREGG MARZANO gregg.marzano@svn.com 610.248.4389 RAY STARNER ray.starner@svn.com 484.245.1017 • 2018-2021 90%+ occupancy • Highly visible location off I-81 • Award winning service • Excellent guest review scores • Marywood University - 2 miles • Wilkes-Barre/Scranton Airport - 14 miles 5,400,000 3% 62 87,096.77 8.29
- 18. Lease Rate Lease Terms Tenant Rep Fee Size Property Highlights Property Details 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. © 2020 SVN International Corp. INDUSTRIAL | 23 SPIRIT LAKE ROAD | WINTER HAVEN, FL SVN | Saunders Ralston Dantzler AUGIE SCHMIDT augie@svn.com 863.409.2400 $5.50 SF/yr Triple Net (NNN) 4% 30,000 SF ● Easy access to I-4, I-95, I-75, US 27 & more ● Fenced lay-down yard ● 3-phase electric available ● Dock high and ramp loading ● 20' ceilings
- 19. www.svn.com PAGE | EVENTS & WEBINARS In observance of the July 4th holiday, there will be no SVN | Live Weekly Property Broadcast on Monday, July 5th.
- 20. www.svn.com PAGE | 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. Thank You For Joining Us!
Editor's Notes
- #6: Approved 6.24
- #7: Approved 6.23
- #8: Approved 6.21
- #9: Approved 6.23
- #10: Approved 6.23
- #11: Approved 6.24
- #12: Approved 6.24
- #14: STB 6.23 David Coupe presenting
- #15: Approved 6.23 Lisa Bradley presenting
- #16: Approved 6.24 Bill Radke presenting
- #17: Approved 6.24 Gregg Marzano presenting
- #18: Approved 6.24 Gregg Marzano presenting
- #19: Approved 6.24 Augie Schmidt presenting