SVN Live 07.19.21 Weekly Property Broadcast
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The document discusses a recent study by the National Bureau of Economic Research that identifies a shift in U.S. migration patterns due to COVID-19, termed the 'donut effect', which indicates a move from urban centers to lower-density suburban areas. It also highlights various commercial real estate transactions, including details on pricing, property features, and commissions. Additionally, the document includes information on upcoming events and webinars relevant to the real estate industry.
SVN Live 07.19.21 Weekly Property Broadcast
- 1. WEEKLY PROPERTY BROADCAST July 19, 2021
- 3. www.svn.com PAGE | URBAN MIGRATION PATTERNS: “THE DONUT EFFECT” ● A recent paper by the National Bureau of Economic Research attempted to quantify the effect of COVID-19 on migration patterns and real estate markets in the U.S.. Using data from the U.S. Postal Service and Zillow, the study found that demand has shifted away from central business districts and towards lower density suburban areas, a phenomenon the study’s authors coin as the “Donut Effect.” ● The paper challenges some of the prevalent migration pattern assumptions of 2020. Initially, many had forecasted the movement of people out of large U.S. metros and into smaller cities and towns. ● Instead, the findings rely on the hypothesis that post-pandemic working norms will likely favor hybrid setups, incentivizing some employees to lower commuting and rent costs while limiting how far most are willing to relocate away from company offices. ECONOMIC UPDATES PROVIDED BY
- 5. Sale Price $ Size 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 | 2601 LUDELLE STREET | FORT WORTH, TX • SVN handled leasing and management for past 10 years • Buyer bought for add-value play Undisclosed 298,800 SF SVN | Trinity Advisors JAMES BLAKE, CCIM james.blake@svn.com 817.288.5508 CARL BROWN, CCIM, RPA carl.brown@svn.com 817.915.7742 4%
- 6. 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. RETAIL | 4161 STEELS POINTE | STOW, OH SVN | Summit Commercial Real Estate Group, LLC AARON DAVIS aaron.davis@svn.com 330.221.7297 NICHOLE BOOKER, Ph.D nichole.booker@svn.com 330.475.5500 2,000,000 156 13,500 SF • Multiple offers within first two weeks on the market • Achieved seller's target price • Achieved buyer's objectives with some some upside • SVN | Summit handled sellers leasing and PM • SVN | Summit will continue to handle leasing and PM for buyer
- 7. 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 | 1151 N JEFFERSON STREET | MEDINA, OH • Original Redwood Living prototype property 6,700,000 60 SVN | Summit Commercial Real Estate Group, LLC JERRY FIUME, SIOR, CCIM jerry.fiume@svn.com 330.416.0501 5.9% 111,667
- 9. www.svn.com PAGE | FEATURED INVENTORY: $15,343,000 BUY-SIDE COMMISSION: $407,940 FEATURED INVENTORY FINANCIAL SUMMARY
- 10. Price $ Buy Side Fee Size Price /SF $ 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 | 5707 N NORTHWEST HWY | CHICAGO, IL SVN | Chicago Commercial CAITLIN CRAWFORD caitlin.crawford@svn.com 773.971.8317 JOHN JOYCE, CCIM john.joyce@svn.com 847.778.1254 1,070,000 12,232 SF 87 2.5% • 12,232 SF Warehouse with tenant in place through 2023 • Rare in-city industrial location with great access to I-90 and I-294 highway system as well as CTA and Metra public transportation • 12 miles to loop, 6 miles to O'Hare International Airport • Fenced, lit, and paved outside storage lot
- 11. Price $ Buy Side Fee Size Price /SF $ 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. RESTAURANT | 11519 E. SPRAGUE AVE | SPOKANE VALLEY, WA SVN | Cornerstone JESSE FOX jesse.fox@svn.com 509.850.2805 1,200,000 3,279 SF 366 3% • Drive Thru remodeled in 2018 in excellent condition • New Roof & HVAC • New Type 1 Hood • High Pylon Signage with Mid Panel available • Traffic Counts - 25,000 + ADT • 44+ parking stalls
- 12. Price $ Buy Side Fee Size Price / Acre $ 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. LAND | 875 E 78TH AVENUE | DENVER, CO SVN | Denver Commercial RYAN BENGFORD ryan.bengford@svn.com 720.773.8712 1,400,000 5 acres 280,000 3% • Shovel-ready development opportunity In Denver • Approved for 24 condominiums | 3 bedroom, 2 bathroom units • Architecture, mechanical, engineering reports on hand • Average sales price per completed condo-$330,000 • Located 15 minutes north of downtown Denver • Perfect for investor/developer
- 13. Price $ Buy Side Fee Size Price/SF $ 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. INDUSTRIAL | 1363 HORIZON AVENUE | LAFAYETTE, CO SVN | Denver Commercial TYLER WILSON tyler.wilson@svn.com 720.696.0621 COBEY WESS cobey.wess@svn.com 970.488.3162 1,828,000 15,570 SF 117 3% • Investment property with 2 long term tenants • 15,570 SF building priced significantly below replacement cost at $117 PBSF • Anchor tenant is a large manufacturing company that's been in the space over 20 years and has over 6 locations • Upside includes a 2660 SF office space to lease, room to raise rent on shorter term lease • Located between Boulder, Longmont, & Denver • Efficient highway access 6%
- 14. Price $ Buy Side Fee Size Price/SF 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. RESTAURANT | 5520 E MAIN STREET | FARMINGTON, NM SVN | Walt Arnold Commercial Brokerage, Inc. STEVE LYON, CCIM steve.lyon@svn.com 505.934.9994 1,745,000 5,000 SF 349 3% • Free standing building • 200' frontage along E. Main • Large pylon sign + full motion color reader board • Ample parking • Part of Lowe's Home Improvement development
- 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 | 9 HOME SFR INVESTMENT PORTFOLIO | HOUSTON, TX SVN | SFRhub Advisors JEFF CLINE jeffrey.cline@svn.com 480.441.5354 MICHAEL FINCH michael.finch@svn.com 480.797.9825 SVN | Pastrano Commercial Real Estate GERARD PASTRANO, CCIM gpastrano@svn.com 210.354.0400 2,250,000 9 4.7% 56,250 • Visit www.SFRhub.com and search for portfolio 100790 for more information • Newer homes built between 2006-2015 • 100% occupied with fully vetted tenants • Professionally managed • Houston rents grew 10.5% YoY and are expected to grow by 9% in 2021 and 8% in 2022 • Houston home values rose by 16% YoY and are forecast to increase by 13% in 2021 and 7% in 2022
- 16. Price $ Buy Side Fee No. of Units Price /Unit $ 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 | 19550 GASTON ST | CITRONELLE, AL SVN | Toomey Property Advisors STEVEN ROWE steven.rowe@svn.com 251.706.9022 2,600,000 42 61,905 2.25% • $168,000 in place NOI • 18.25% below market rents • All new metal roofs • Upgraded interiors • Very low vacancy in Submarket 6.72%
- 17. Price $ Buy Side Fee Size Price/SF $ 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. RETAIL | 3519, 3521 & 3523 BELL SHOALS ROAD | VALRICO, FL SVN | Saunders Ralston Dantzler Commercial ERIC AMMON, CCIM, CPM, RPA eric.ammon@svn.com 863.602.1001 CARSON FUTCH carson.futch@svn.com 863.559.0800 3,250,000 12,496 SF 260 2.5% • Great location, with very good traffic counts at 17,500 for Bell Shoals and 50,500 on Bloomingdale Ave. • Well-maintained and well-built with just three tenants • Single story, block construction, brick facade and with a recent new roof 6.24%
- 18. www.svn.com PAGE | July 19th-25th, 2021 EVENTS & WEBINARS TUESDAY JULY 20 Healthcare Council Meeting 9:00am PT | 12:00pm ET WEDNESDAY JULY 21 Best Practices Webinar 8:30am PT | 11:30am ET
- 19. 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!