SVN Live 10.7.24 Weekly Property Broadcast
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The SVN weekly property broadcast dated October 7, 2024, highlights a modest increase in U.S. retail sales, reporting a 0.1% rise month-over-month and a 2.1% increase year-over-year, alongside notable sales growth for non-store retailers and food services. Key property transactions include various sales across different categories, such as multifamily units in Rantoul, IL, a Class A office building in Grants Pass, OR, and premier resort land in Babbitt, MN. The document also outlines upcoming events and webinars relevant to the real estate sector.
SVN Live 10.7.24 Weekly Property Broadcast
- 1. W E E K L Y P R O P E R T Y B R O A D C A S T DATE dsafsdfd October 7, 2024
- 2. W W W . S V N . C O M E C O N O M I C U P D A T E S P R O V I D E D B Y
- 3. E C O N O M I C U P D A T E S W W W . S V N . C O M P R O V I D E D B Y ● According to advanced estimates from the US Census, US retail and food services sales rose by 0.1% month over month in August and 2.1% over the past 12 months. ● Measuring seasonal performance, total sales between June and August were up 2.3% from the same period in 2023, an impressive clip considering that consumers, on average, encountered tighter financial conditions compared to one year prior. ● Sales for non-store retailers are up 7.8% compared to one year ago, while food services and drinking places are up 2.7% year-over-year. Retail Sales
- 4. W W W . S V N . C O M C L O S E D TRANSACTION S
- 5. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Sale Price Size Price/SF PROPERTY DETAILS TRANSACTION HIGHLIGHTS $2,800,000 21,622 SF $129 ● Class A office/flex building ● The air compressor and 375KW generator are available outside of escrow ● Co-listed with Jeremy Leever with Pulver & Leever (541)773-5391 OFFICE | 8925 ROGUE RIVER HIGHWAY | GRANTS PASS, OR SVN | COMMERCIAL ADVISORS, LLC Curt Arthur, SIOR curt.arthur@svn.com 503.588.0400
- 6. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Sale Price Rental Units Price/Unit PROPERTY DETAILS TRANSACTION HIGHLIGHTS $2,455,000 64 units $38,359 ● Buyer paid ALL CASH ● Prevented property from going into foreclosure ● Uncovered Buyer after unsuccessful national auction MULTIFAMILY | 701-719 CANTONMENT AVENUE | RANTOUL, IL SVN | CHICAGO COMMERCIAL Cody Doran cody.doran@svn.com 309.235.0995 Reid Bennett, CCIM reid.bennett@svn.com 773.251.7342 Dan Short, MBA dan.short@svn.com 312.515.9238
- 7. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Sale Price No. Units Price/Unit Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS $1,595,000 29 units $55,000 ● Multiple Offers ● All Cash Transaction ● Non-Local/West Coast Buyer ● Lots of Upside SFR PORTFOLIO | 19 PROPERTY PORTFOLIO | CLEVELAND, OH SVN | SUMMIT COMMERCIAL REAL ESTATE ADVISORS Nichole Booker, PhD nichole.booker@svn.com 330.475.5500 9%
- 8. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Sale Price Size Price/SF PROPERTY DETAILS TRANSACTION HIGHLIGHTS $1,078,000 51.6 acres $20,891 ● 51.6 ± acres ● Over 1150’ of I-75 road frontage ● Excellent access to I-75 (exit 451) and Highway 129 ● Average daily traffic volume of 44,500 LAND | I-75 & HWY 129 INTERCHANGE (EXIT 451) | JASPER, FL SVN | SAUNDERS RALSTON DANTZLER Austin Fisher austin.fisher@svn.com 850.545.9132
- 9. F E A T U R E D INVENTORY W W W . S V N . C O M
- 10. F I N A N C I A L S U M M A R Y F E A T U R E D I N V E N T O R Y F I N A N C I A L S U M M A R Y B U Y - S I D E C O M M I S S I O N W W W . S V N . C O M $1,239,680+ $52,421,500 +
- 11. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF Cap PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS MULTIFAMILY | 397 UNITS IN 6 COMPLEXES | LOUISVILLE, KY $29,576,500 $591,530 316,408 SF ● 397 units across 6 complexes ● Prime locations in Louisville, KY ● 316,408 SF ● Strong rental demand in the area ● Proximity to amenities and transportation $93 5.6% SVN | MENISH COMMERCIAL REAL ESTATE Bill Menish bill.menish@svn.com 502.939.0399
- 12. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/Acre Cap PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS GOLF & RESORTS | 8347 TIMBER BAY ROAD | BABBITT, MN $4,995,000 $99,900 22.44 acres ● Premier resort and houseboat rental business in the heart of Superior National Forest ● Sleeps 202 people - Includes 14 cabins, 13 houseboats, a boathouse, owner's residence, and office/gift shop ● Located on 1,482 feet of Birch Lake waterfront with a full-service marina and sandy swim beach ● Children's programs, pickleball, boating, camping, fishing, swimming, snowmobile, and ATV trails $222,594 11.02% SVN | NORTHCO Frank Jermusek frank.jermusek@svn.com 952.820.1615 Edward Rupp edward.rupp@svn.com 952.820.1634 Emilia Molle emilia.molle@svn.com 952.820.1618 Mark Battles mark.battles@svn.com 952.820.1633
- 13. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/Acre PROPERTY DETAILS PROPERTY HIGHLIGHTS LAND | 6301 E HWY 316 | OCALA, FL $4,350,000 $108,750 175 +/- acres ● FAA-approved 3,000-foot runway, fully operational for your aviation dreams ● Over 2 miles of riding trails—the perfect setup for an equine retreat ● Existing hangar with a walk-in freezer, hydraulic lift, and a 2/2 apartment ● 175 acres of potential for additional hangars, equine facilities, or your dream home +/- $24,857 5.6% SVN | SAUNDERS RALSTON DANTZLER Shea Booster shea.booster@svn.com 541.771.1177 Zane Mueller zane.mueller@svn.com 352.303.9322
- 14. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS RETAIL | 1111 S NEVADA HIGHWAY | PAHRUMP, NV $4,250,000 $127,500 35,800 SF ● Price per SF: $118.72 | 35,800 SF | ±5.07 Acres ● Currently 73.89% leased with below market rental rates ● High visibility and traffic along Highway 160 (25,000 VPD) $119 5.6% SVN | THE EQUITY GROUP Nolan Julseth-White, CCIM nolan.jwhite@svn.com 702.527.7562 Eric Rogosch eric.rogosch@svn.com 702.527.5313 Zechariah Levi, CCIM zech.levi@svn.com 702.527.6280
- 15. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS INDUSTRIAL | 2340 E POSTAL DRIVE | PAHRUMP, NV $1,250,000 $37,500 10,000 SF ● Price per SF: $125 | 10,000 SF | ±1.05 Acres ● 100% leased industrial property with short- term leases, ideal for rent increases ● Central location with direct access to Highway 160 $125 5.6% SVN | THE EQUITY GROUP Nolan Julseth-White, CCIM nolan.jwhite@svn.com 702.527.7562 Eric Rogosch eric.rogosch@svn.com 702.527.5313 Zechariah Levi, CCIM zech.levi@svn.com 702.527.6280
- 16. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS RETAIL | 1210 E BASIN AVE | PAHRUMP, NV $1,200,000 $36,000 6,510 SF ● Price per SF: $184.33 | 6,510 SF | ±0.5 Acres ● Close proximity to Highway 160 with strong visibility ● Value-add potential through increased occupancy $184 5.6% SVN | THE EQUITY GROUP Nolan Julseth-White, CCIM nolan.jwhite@svn.com 702.527.7562 Eric Rogosch eric.rogosch@svn.com 702.527.5313 Zechariah Levi, CCIM zech.levi@svn.com 702.527.6280
- 17. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS OTHER | 401 E CHAPEL HILL STREET | DURHAM, NC $2,400,000 $72,000 6,170 SF ● Fully renovated historic property with corner location ● Downtown mixed-use property with street level retail and second floor office ● Restaurant with 15 year tenancy in place ● Vacant upstairs creative use office space $389 9.6% SVN | REAL ESTATE ASSOCIATES Carey Greene carey.greene@svn.com 919.287.2135 Shara Nejad shara.nejad@svn.com 919.287.3212
- 18. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS OFFICE | 204 RIGSBEE AVENUE | DURHAM, NC $1,450,000 $43,500 3,944 SF ● Street-level creative office condo in the heart of downtown Durham ● Fully renovated modern space featuring sleek design and high-quality finishes, previously occupied by an architectural firm ● Convertible to retail or food/beverage use ● Conveys with a basement garage with 6 parking spaces ● ADA restrooms and two means of egress $368 9.6% SVN | REAL ESTATE ASSOCIATES Carey Greene carey.greene@svn.com 919.287.2135 Shara Nejad shara.nejad@svn.com 919.287.3212
- 19. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS OTHER | 700 MARKET ST | CHATTANOOGA, TN $1,800,000 $54,000 6,000 SF ● Located in the heart of the central business district ● Zoning allows for the possibility of building up 12 stories ● High traffic count and visibility $300 7.5% SVN | SECOND STORY REAL ESTATE MANAGEMENT Zac Adams zachary.adams@svn.com 423.596.2277 Bianca Pichardo bianca.pichardo@svn.com 423.710.7638
- 20. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/SF Cap PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS RETAIL | 219-221 W STATE ST | GENEVA, IL $1,150,000 $69,000 3,960 SF ● Fully Leased Vintage Retail Building ● Central Downtown Geneva Location ● Brick Facade & Large Display Windows ● Prominent IL Rt 38 Exposure ● Hardwood Floors & 12 Ft-High Tin Ceilings ● Easy Access to Public Parking $290 7.5% SVN | LANDMARK COMMERCIAL REAL ESTATE Neil Johnson neil.johnson@svn.com 630.938.4950
- 21. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Lease Rate Lease Terms Tenant Rep Fee Size PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS OFFICE | 650 E ALGONQUIN ROAD | SCHAUMBURG, IL $17.00 SF/yr (MG) 5 years $1.25/SF ● Spec suites available: 1,290 -7,039 SF ● Management on site ● 30 miles NW of downtown Chicago ● Monument signage available ● 15 minutes from O’Hare International Airport 81,522 SF 6.20% SVN | CHICAGO COMMERCIAL Olivia Czyzynski olivia.czyzynski@svn.com 312.676.1862 Jennifer Hopkins, MBA jennifer.hopkins@svn.com 630.335.6285 Caitlin Crawford caitlin.crawford@svn.com 773.971.8317
- 22. E V E N T S E V E N T S & W E B I N A R S October 7-12, 2024 WEDNESDAY OCTOBER 9 THURSDAY OCTOBER 10 LAND & DEVELOPMENT PRODUCT COUNCIL MEETING 2:00 PM EST | 11:00 AM PT COMPSTAK WEBINAR 1:00 PM EST | 10:00 AM PT MARKETING MASTERMINDS 11:30 AM EST | 8:30 AM PT FRIDAY OCTOBER 11 SATURDAY CALL W/ JOHN MCDERMOTT 11:30 AM EST | 8:30 AM PT SATURDAY OCTOBER 12
- 23. F O R J O I N I N G U S T H A N K Y O U
- 24. 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.
Editor's Notes
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- #11: Bill Menish Presenting
- #12: Brooke Bleser Presenting
- #13: Shea Booster Presenting
- #14: Zech Levi Presenting
- #15: Zech Levi Presenting
- #16: Zech Levi Presenting
- #17: Carey Greene Presenting
- #18: Carey Greene Presenting
- #19: Zac Adams Presenting
- #20: Neil Johnson Presenting
- #21: Olivia Czyzynski Presenting