SVN Live 2.26.24 Weekly Property Broadcast
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The document provides an economic update indicating a 0.6% year-over-year rise in US retail sales for January 2024, marking the slowest growth pace since the COVID-19 pandemic began. It also reports various property transactions, detailing sale prices, property sizes, and notable characteristics of each deal across multiple states. Additionally, it includes insights into market trends and expectations for seasonal sales fluctuations in the retail sector.
SVN Live 2.26.24 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 February 26, 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 data from the US Census Bureau, US retail sales rose 0.6% year-over-year in January, the slowest pace of annual growth since the onset of the COVID-19 pandemic. Sales were down 0.8% from December. ● While sales growth has come back down to earth after achieving a record high of 52.0% year-over- year in April 2021, the industry appeared to hit a nadir of 1.29% in April 2023 and has grown steadily since then. January’s 0.6% annual mark challenges this trend and is a steep drop from the 5.31% charted in December. ● A seasonal pull-back in activity is expected during January and February as the holiday boom in sales cools off. ● Automobiles and vehicle parts continue to outperform the broader retail market. Excluding autos, US retail sales declined 0.6% month-over- month in January and climbed 1.2% year-over- year. Retail Sales & Inventories
- 4. W W W . S V N . C O M C L O S E D TRANSACTIONS
- 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/Acre PROPERTY DETAILS TRANSACTION HIGHLIGHTS LAND | NE CORNER OF PAUL S. BUCHMAN HWY (FL-39) AND CHANCEY RD. (CR 535) | ZEPHYRHILLS, FL $9,250,000 111 acres $83,333 ● Utilities to the site; gas nearby ● Pro-development government ● Excellent roadways; access to major distribution routes ● Close to airport ● Close to Port of Tampa Steve Toner, MBA steve.toner@svn.com 813.391.0302 SVN | SAUNDERS RALSTON DANTZLER
- 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 Size Price/SF PROPERTY DETAILS TRANSACTION HIGHLIGHTS $4,350,000 4,319 SF $1,007 ● Outside storage site: 1.9 acres ● Rare Heavy (M-4) Industrial Zoning ● First time property transacted in 48 years ● Long time relationship with seller facilitated sale ● 10th property sold to buyer in 3 years 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 INDUSTRIAL | 4701 OAKES ROAD | DAVIE, FL
- 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 Size Price/Acre PROPERTY DETAILS TRANSACTION HIGHLIGHTS $4,147,950 276 acres $15,029 ● Sold for full price @ $15,000 per acre to out-of- state industrial buyer ● 276 acres off NC Hwy 52 in Stanly County NC ● 26 miles from Charlotte’s I-485 Beltway ● Charlotte surpasses San Francisco as Nation’s 15th largest city ● 4th generation estate sale ● Borders Norfolk Southern Railway ● 3 listing extensions and under contract 3 times LAND | STEAKHOUSE ROAD NC HWY 1440 | NEW LONDON, NC Frank Efird frank.efird@svn.com 910.200.0037 Win Edwards win.edwards@svn.com 252.560.9472 SVN | EFIRD COMMERCIAL REAL ESTATE
- 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/Acre PROPERTY DETAILS TRANSACTION HIGHLIGHTS $4,000,000 10.16 acres $482,283 ● Third time’s the charm! Deal closed the 3rd time in contract ● Original agreement signed in Mar '21; got in contract in Apr '21, Jun '23 and Sept '23 with different parties each time ● Major part of the offering, a full service restaurant earning $100,000 in annual NOI, burned down in June '22 ● Property sold for 94% of re-adjusted asking price after fire ● Buyers were a Bay Area local marina group Michael Cohen michael.cohen@svn.com 415.717.9352 SVN | TRUE REAL ESTATE PARTNERS MARINA | 106 W BRANNAN ISLAND RD | ISLETON, CA SVN | SAFE HAVEN ADVISORS David Kendall david.kendall@svn.com 561.723.8463
- 9. 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 OFFICE | 1401 MT HERMON RD | SALISBURY, MD $3,650,000 34,000 SF $107 ● 1.5 Years left on Verizon lease ● Class A, two-story office building ● Additional land for future expansion opportunities ● Purchased by Local County Government John McClellan, CCIM, SIOR john.mcclellan@svn.com 410.543.2428 Henry Hanna, CCIM, SIOR henry.hanna@svn.com 410.543.2420 SVN | MILLER COMMERCIAL REAL ESTATE
- 10. 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/Acre PROPERTY DETAILS TRANSACTION HIGHLIGHTS LAND | 2400 11TH ST NE | WINTER HAVEN, FL $3,500,000 56.7 acres $61,728 ● Residential development tract mostly high and dry ● Fantastic view of Lake Smart (including frontage) ● Allowed up to 4.35 dwelling units per acres ● Water and sewer adjacent to property ● Close to Polk State College, retail, restaurants, etc. Clay Taylor, ALC clay.taylor@svn.com 863.224.0835 SVN | SAUNDERS RALSTON DANTZLER
- 11. 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 $1,700,000 19,304 SF $88 ● Listed-to-closed in 48 days ● Closed at 97% of list price ● All cash transaction ● Sold to local investor group INDUSTRIAL | 1024 WESTERN DRIVE | INDIANAPOLIS, IN Wade Wilson wade.wilson@svn.com 317.863.9271 SVN | NORTHERN COMMERCIAL
- 12. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Lease Value Lease Terms Size PROPERTY DETAILS TRANSACTION HIGHLIGHTS INDUSTRIAL LEASE | 12757 HOMAN AVENUE SUITES 104, 103E, 103D, 106C | BLUE ISLAND, IL $1,501,513 5 years 54,920 SF ● Marathon Sportswear Inc. tenant rep for lease renewal ● Capital improvements required prior to renewal (roof, HVAC, entry, windows) ● Tenant occupies 20% of warehouse | New Landlord | Old Lease ● Tenant since 2017 with continuance to 2029 ● Evaluated purchase vs lease options Karen Kulczycki, CCIM kkulczycki@svn.com 630.330.3352 SVN | CHICAGO COMMERCIAL
- 13. 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 Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS $1,428,750 4,892 SF $292 ● $292/PSF ● Cap Rate: 3.29% ● $100,000 non-refundable deposit at the sign of contract ● Closed in 16 days OFFICE | 11327 OKEECHOBEE BLVD | ROYAL PALM BEACH, FL 3.29% Cleveland Sainpreux cleveland.sainpreux@svn.com 561.485.1655 Elon Gerberg elon.gerberg@svn.com 561.485.1129 Adam H. Klein adam.klein@svn.com 561.282.9296 SVN | COMMERCIAL PARTNERS
- 14. 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 OFFICE | 360 E HIGHLAND ROAD | MACEDONIA, OH $1,362,060 25,944 SF $53 ● Cold called and turned into off market deal ● Buyer Rep ● Negotiated construction costs into the purchase price with the seller performing the improvements Aaron Davis aaron.davis@svn.com 330.221.7297 Max Straus max.straus@svn.com 330.807.9854 SVN | SUMMIT COMMERCIAL REAL ESTATE ADVISORS
- 15. 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/Acre PROPERTY DETAILS TRANSACTION HIGHLIGHTS LAND | 675 W. GRANADA BOULEVARD | ORMOND BEACH, FL $1,300,000 1.515 acres $858,086 ● The 1.515+/- acre commercial parcel will be the future home of IHOP ● Located within the Granada Pointe development ● They join Wawa, Whistle Express Car Wash, and Culver's COMING SOON at this high traffic, signalized Granada Boulevard location John Trost john.trost@svn.com 386.301.4581 SVN | ALLIANCE COMMERCIAL REAL ESTATE ADVISORS
- 16. 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 Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS RETAIL | 26075 LORAIN RD | NORTH OLMSTED, OH $1,285,000 6,000 SF $214 ● SVN Summit represented buyer ● All cash/No financing ● 9 yrs remaining on 10 yr term (NNN) ● Extensively renovated state-of-the-art building (2023) ● Solid tenant (K9 Resorts Luxury Pet Hotel). Solid guaranty. Solid market. Nichole Booker, PhD nichole.booker@svn.com 330.475.5500 Jenna Tharp jenna.tharp@svn.com 231.633.1642 SVN | SUMMIT COMMERCIAL REAL ESTATE ADVISORS 9%
- 17. 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 Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS OFFICE | 990 S CONGRESS | DELRAY BEACH, FL $1,226,350 5,095 SF $240 ● $26,350 above asking price ● Cap Rate: 2.19% ● $240/SF Cleveland Sainpreux cleveland.sainpreux@svn.com 561.485.1655 Elon Gerberg elon.gerberg@svn.com 561.485.1129 Adam H. Klein adam.klein@svn.com 561.282.9296 SVN | COMMERCIAL PARTNERS 2.19%
- 18. 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 INDUSTRIAL | 8630 EAST 30TH STREET | INDIANAPOLIS, IN $1,025,000 8,342 SF $123 ● Sold to local owner-user buyer ● SVN assisting seller with 1031 Exchange into replacement property for business occupancy ● Buyer intends to expand warehouse portion of property Wade Wilson wade.wilson@svn.com 317.863.9271 Jess Lawhead jess.lawhead@svn.com 317.454.2241 SVN | NORTHERN COMMERCIAL
- 19. F E A T U R E D INVENTORY W W W . S V N . C O M
- 20. 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 $X $X
- 21. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee No. of Units Price/Unit Cap PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS MULTIFAMILY | 100 HENRY DRIVE | BURNS, TN $16,500,000 $330,000 66 units ● 66 units, 1200 sq ft, 2 bed, 2.5 bathrooms ● Brand new Class A Build-to-Rent (BTR) townhome community ● Amenities include: Dog park, BBQ grills, picnic area with fire pit, kids playground, and outdoor cornhole ● All utilities separately metered ● Limited new inventory in the market with very strong demand ● Rents at $1800 ● Seller willing to stay in deal as 10% owner Kunal Patel kunal.patel@svn.com 731.613.5487 Brian Truman brian.truman@svn.com 615.260.2121 SVN | ACCEL COMMERCIAL REAL ESTATE $250,000 6.72%
- 22. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS RETAIL | 4552-4892 WEST FLORIDA AVENUE | HEMET, CA $10,610,000 1.5% 6.63 acres ● Positioned between two signalized intersections, providing six total access points ● Excellent visibility from State Highway 74 ● Anchored by Winco, Starbucks, and Circle K ● ±30,000 cars per week Janet F. Kramer, JD, CCIM janetk@svn.com 951.600.8634 Steve Castellanos stevec@svn.com 951.600.8634 SVN | INSIGHT COMMERCIAL REAL ESTATE ADVISORS $1,600,30 2 5.63%
- 23. 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 | 394 N CLAYTON ST | LAWRENCEVILLE, GA $8,750,000 $175,000 46,176 SF ● Turnkey brewery ● 50 barrel capacity ● Sprinkman/Krones equipment ● Canning line ● Tasting room and outdoor event area ● Walkable to downtown Lawrenceville and Slow Pour Brewery ● Large cold storage room ● Large parking area ● Located on new gateway route into city Tom Hunter tom.hunter@svn.com 770.682.8552 SVN | INTERSTATE BROKERS $189 5.63%
- 24. 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 | 2932 N 14TH ST | PHOENIX, AZ $6,265,000 $125,300 31,181 SF ● 12 year tenant lease history with national children's immigration shelter operator ● Federally funded program since 1987 with 55 locations in 6 states ● $74M operating budget with support from government agencies, foundations, corporations, special events & private contributions ● 4th largest Hispanic non-profit in the country ● 100 bed capacity congregate living facility with 3 years remaining lease Carrick Sears carrick.sears@svn.com 480.425.5529 SVN | DESERT COMMERCIAL ADVISORS $201 7.15% SVN | SLA Aaron Thompson aaron.thompson@svn.com 414.687.2352 John Klement john.klement@svn.com 414.788.2942
- 25. 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 | 43 E JEFFERSON AVE | NAPERVILLE, IL $4,400,000 $132,000 16,954 SF ● Value add mixed-use building in downtown Naperville ● The original 1845 building was an historic residence ● 58% occupancy, strong immediate upside ● Future opportunity to expand or redevelop the building ● Onsite parking + public parking deck Immediately across street ● Adjacent to North Central College Campus Neil Johnson neil.johnson@svn.com 630.938.4950 Joel Miller joel.miller@svn.com 630.938.4950 SVN | LANDMARK COMMERCIAL REAL ESTATE $260 5.17%
- 26. 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 | 3807-3811 S WATER AVE | PORTLAND, OR $3,800,000 $95,000 9,240 SF ● 23-Units ● Prime location in SW Portland ● Off-street parking ● On-site laundry & storage ● Current cap rate of 5.45% ● Pro Forma cap rate of 6.84% ● Well maintained with new roof in 2018 Rae Nomura, MAI, CCIM rae.nomura@svn.com 503.575.8065 SVN | IMBRIE REALTY $411 5.45%
- 27. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/Acre PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS LAND | MOHAWK STREET | LAS VEGAS, NV $2,000,000 $50,000 2.5 acres ● Located within an opportunity zone ● Master planned neighborhood commercial (NC) ● Clark County jurisdiction ● ±15,500 CPD along Russell Road ● ±5.00 gross acre assemblage potential Art Farmanali, SIOR art.farmanali@svn.com 702.527.7613 Layne McDonald layne.mcdonald@svn.com 702.527.7837 SVN | THE EQUITY GROUP $800,000 5.63%
- 28. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/Acre PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS OTHER | 825 E 17TH STREET | IDAHO FALLS, ID $1,900,000 $57,000 1.4 acres ● Large front and rear parking lot ● Features large pull through garage ● Brick exterior with developed landscaping ● Has potential for office, retail or multifamily use ● Prime corner lot on a busy road Levi Magnusson levi.magnusson@svn.com 208.535.8520 SVN | HIGH DESERT COMMERCIAL $1,357,143 5.63%
- 29. 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 | 5073 M-123 I | NEWBERRY, MI $1,600,000 $48,000 140 acres ● 18-hole golf course in the beautiful Upper Peninsula of Michigan ● Sale includes golf course, practice facilities, cart/maintenance buildings & equipment and newly constructed clubhouse with full restaurant ● Numerous improvements made over the past 10 years with many growth and development opportunities ● Also available are 60 acres of development land and a 3-bedroom home that could be an owner's residence or rental Frank Jermusek frank.jermusek@svn.com 952.820.1615 Emilia Molle emilia.molle@svn.com 952.820.1618 Chris Kubesh chris.kubesh@svn.com 952.820.1668 SVN | NORTHCO $11,429 11.5%
- 30. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee Size Price/Acre PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS INDUSTRIAL | 1409,1419, & 1435 EAST BLUE LICK ROAD | SHEPHERDSVILLE, KY $1,495,000 $45,750 1.9 acres ● Tremendous visibility on I-65 ● 3 building Included in this sale ● Warehouses and office space ● Large parking areas for each Bill Menish bill.menish@svn.com 502.939.0399 Alex Lanham alex.lanham@svn.com 502.650.6837 SVN | MENISH COMMERCIAL REAL ESTATE $786,842 5.45%
- 31. All SVN® offices are independently owned and operated. © 2024 SVN International Corp. Price Buy Side Fee No. of Units Price/Unit Cap PROPERTY DETAILS All SVN® offices are independently owned and operated. © 2024 SVN International Corp. PROPERTY HIGHLIGHTS MULTIFAMILY | 8 HOME SFR INVESTMENT PORTFOLIO | ABILENE, TX $1,129,605 $22,592 8 units ● Visit www.SFRhub.com and search for portfolio 101589 for more information ● 8-home Single Family Residential portfolio in Abilene TX ● The average dwelling spanning 1,223 square Feet ● 100% leased to meticulously screened Tenants ● 3 two-bedroom, 3 three-bedroom, and 2 four- bedroom homes ● Average monthly rent of $1,127 ● Property Management Available Tim Orscheln tim.orscheln@svn.com 480.291.4330 Tom Johnston tom.johnston@svn.com 602.825.1780 SVN | SFRHUB MARKETPLACE $141,201 6.10% SVN | TRINITY ADVISORS Steve Fithian steve.fithian@svn.com 817.288.5525
- 32. No events next week. See you in Miami!
- 33. F O R J O I N I N G U S T H A N K Y O U NEXT SVN LIVE IS ON MARCH 11TH
- 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.