SVN Live 3.27.23 Weekly Property Broadcast
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The document provides an overview of recent mortgage rate trends, noting a decrease to 6.57% from a high of 7.05%. It includes details on several property transactions, highlighting sale prices and attributes, such as a church property sold for $1,065,000 and a multifamily building in Chicago for $4,100,000. The information reflects the current state of the real estate market and potential impacts of changing mortgage rates on homebuying activity.
SVN Live 3.27.23 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ Mortgage rates fell to begin the week, with the 30-year fixed mortgage dipping to 6.57% on Monday, March 13 th , from a recent high of 7.05% registered last Wednesday. ○ Movements in mortgage rates are generally concurrent with movements in US Treasuries, which saw yields fall sharply in the wake of last week’s bank collapses. ○ After reaching a high of 7% last September, mortgage rates declined to close 2022 and fell as low as 6% in January, prompting an 8% jump in pending home sales that month. Recent rate reduction could generate a similar jump in homebuying activity in March. ○ Since mortgage rates are indirectly influenced by movements in the Federal Funds rate, recent volatility around March rate hike projections is likely also contributing to the recent fall in rates. Mortgage Rates Fall
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $1,065,000 11,561 SF OTHER | 0N377 MILL CREEK DR | GENEVA, IL ○ Church property, built in 2000 ○ Located in master-planned golf course community ○ Sold from one church congregation to another ○ Included furniture, A/V & sound systems, etc $92 SVN | Landmark Commercial Real Estate NEIL JOHNSON neil.johnson@svn.com 630.938.4950
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $1,200,000 5,300 SF INDUSTRIAL | 4565 E SELTICE WAY | POST FALLS, ID ○ Fully fenced lot with 6 striped car parks ○ Located within the greater Spokane/Coeur d'Alene MSA ○ Less than 1/4 mile from major thorough-fares I-90 and Highway 41 ○ Idaho is currently the fastest growing market in the country $226 SVN | Cornerstone GUY BYRD guy.byrd@svn.com 509.953.5109
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price No. of Units Price/Unit Cap $2,100,000 11 units SFR PORTFOLIO | POPLIN TRACE PHASE III TRANCHE 8 | CHARLOTTE, NC ○ Total three-phase 268 home BFR community totals $68mm ○ Three different product styles ○ Last Tranche of Phase III, closed $2,934,460.00 ○ Construction completed $190,909 7% SVN | SFRhub Advisors TOM JOHNSTON tom.johnston@svn.com 602.825.1780 MICHAEL FINCH michael.finch@svn.com 480.797.9825 SVN | Southern Commercial Real Estate, LLC MARK MAYFIELD mark.mayfield@svn.com 803.325.1000 x2
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $2,100,000 5,444 SF RESTAURANT | 1004 MEBANE OAKS RD | MEBANE, NC ○ Under contract within days of listing and deal closed in 30 days ○ Free standing restaurant purchased by an owner occupant ○ Third restaurant building we have sold in Alamance County between Durham and Greensboro in last 9 months ○ Great outparcel location in front of grocery anchored retail center and across from Tanger Outlet Mall ○ #I-85 corridor!!! $386 SVN | Real Estate Associates CAREY GREENE carey.greene@svn.com 919.949.5672 BRIAN FABRICATORE brian.fabricatore@svn.com 919.287.3214
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $2,325,000 10,128 SF INDUSTRIAL | 1935 NW 18TH STREET | POMPANO BEACH, FL ○ What a difference a couple of years makes ○ Pre-covid: Building did not sell for the then listed price of $1.875M ($188psf) ○ Post-covid: Building sells for 25% more than the previous listing price! $230 SVN | Commercial Realty LES BYRON, CCIM, SIOR les@svncr.com 954.401.4713 KEITH KIDWELL, CCIM, SIOR keith@svncr.com 954.234.8777 STEVE DAVIS steve@svncr.com 954.650.7824
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $4,100,000 70,000 SF MULTIFAMILY | 6700 S CONSTANCE AVENUE | CHICAGO, IL ○ Purchase price $4,100,000 / $52,564 Per Door ○ Value add property ○ Local buyer $59 SVN | Chicago Commercial JOE CONNELLY joseph.connelly@svncr.com 312.414.0428
- 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. © 2023 SVN International Corp. Property Details Transaction Highlights Lease Value Lease Terms Size $10,668,317 15 years OFFICE | 3475 BLAZER PARKWAY | LEXINGTON, KY ○ Worked with a local Orthopedic Surgery Group to locate a suitable space for a new surgery center ○ Partnered with their private equity investor to successfully negotiate a 15 year lease term ○ The new surgery center will double what they currently have and provide room for the practice to grow well into the future 30,445 SF SVN | Stone Commercial Real Estate JOHN BUNCH, SIOR john.bunch@svn.com 859.433.8911
- 14. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF INDUSTRIAL | 7321 E NORA AVE | SPOKANE, WA $1,200,000 $36,000 6,176 SF ○ Situated on two parcels consisting of 1.04 acres in Spokane Valley ○ 5,000 SF steel, clear-span warehouse ○ 1,176 SF detached office space with additional basement ○ Graveled lot | Partially fenced ○ Three (3) 12' and one (1) 14' grade level overhead doors $194 SVN | Cornerstone NATE GANT nate.gant@svn.com 509.993.4440
- 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap MULTIFAMILY | 209 S CHESTNUT ST | SPOKANE, WA $4,200,000 $84,000 12,951 SF ○ Class A, 13 unit apartment building ○ Located in Browne's addition with views of CDA Park ○ Washer/dryer In each unit ○ Polished concrete floors ○ Zoning: RHD-35 $324 SVN | Cornerstone JORDAN LESTER jordan.lester@svn.com 509.496.6922 NATE GANT nate.gant@svn.com 509.993.4440 4.05%
- 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre LAND | W WHITE RD | MEDICAL LAKE, WA $2,400,000 $72,000 55.11 acres ○ Vacant level land located in the West Plains growth area ○ Zoned rural traditional (potential to acquire improved zoning to light industrial) ○ Only 5 minutes to I-90 with future road improvement plans in process ○ New Louisiana Pacific production facility going in across White Rd from subject property $43,549 SVN | Cornerstone MICHAEL THOMPSON michael.thompson@svn.com 509.947.8032 GUY BYRD guy.byrd@svn.com 509.953.5109
- 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF OFFICE | 12 N DELAWARE STREET | INDIANAPOLIS, IN $1,200,000 $30,000 12,531 SF ○ 9604 SF office building ○ Elevator ○ 2 demised street retail units ○ 2927 SF lower level ○ Across from Indianapolis City Market redevelopment project ○ Tenant income in place $96 SVN | Northern Commercial JESS LAWHEAD, CCIM jess.lawhead@svn.com 317.454.2241
- 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee No. of Units Price/Unit Cap SFR PORTFOLIO | 719 W WALNUT | KOKOMO, IN $1,250,000 $37,500 19 units ○ NOI includes property management fee ○ (14) – long-term rentals, (4) – short-term rentals, (1) – 2 tenant office building ○ Potential upside by converting long-term rentals to short-term ○ Extensive renovations since 2017 9.2% SVN | Northern Commercial PHIL PECORARO phil.pecoraro@svn.com 317.695.5208 JEFF HINES jeff.hines@svn.com 317.709.6000 $65,789
- 19. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre LAND | SWQ SR 28 & I-65 | FRANKFORT, IN $2,265,600 $67,968 37.76 acres ○ +/- 37.76 acres ○ Less than 1 mile from I-65 ○ Utilities at or near the site ○ Part of the SR 28 Overlay District ○ Fast track zoning $60,000 SVN | Northern Commercial JEFF HINES jeff.hines@svn.com 317.709.6000
- 20. 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. © 2023 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 $1,200,000 $24,000 16 units ○ Visit www.SFRhub.com and search for portfolio 101251 for more information ○ Asset mix includes duplexes & triplexes-2-one bedroom, 11-two bedroom, 3-threebedroom homes ○ Average vintage of 1920 ○ Average square feet of 1,058 ○ 100% leased to fully vetted tenants ○ Property management available ○ More than 50% of all housing units are occupied by renters SVN | SFRhub Advisors TIM ORSCHELN tim.orscheln@svn.com 480.291.4330 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 SFR PORTFOLIO | 16 HOME SFR INVESTMENT PORTFOLIO | CLEVELAND, OH SVN | First Place Commercial Realty, LLC VICTOR S. VOINOVICH, SR. voinovichv@svn.com 216.235.2588 7.7% $75,000
- 21. 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. © 2023 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 $9,500,000 $95,000 17 units ○ Visit www.SFRhub.com and search for portfolio 101441 for more information ○ All homes are short-term rentals with 2 years of operating history ○ Mix of 4 bedroom / 3.5 bath (12 Units) and 3 bedroom / 2.5 bath houses (5 units) ○ Eye-catching modern Scandinavian aesthetic ○ Adjacent Sugar Creek Park: 73 acres ○ All houses are located on Merlane Dr SFR PORTFOLIO | 17 HOME SFR INVESTMENT PORTFOLIO | CHARLOTTE, NC 7.02% $558,824 SVN | SFRhub Advisors MICHAEL FINCH michael.finch@svn.com 480.797.9825 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 SVN | Southern Commercial Real Estate, LLC MARK MAYFIELD mark.mayfield@svn.com 803.325.1000 x2
- 22. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap RETAIL | 340-358 SHERIDAN ST | JOHNSTOWN, PA $1,300,000 $39,000 40,200 SF ○ Grocery anchored center ○ Dollar General co-anchor ○ Over $250,000 in recent capital improvements ○ Ample parking with 91 spaces ○ Johnstown, PA recently received $24.4M Federal Infrastructure Grant $32 SVN | Three Rivers Commercial Advisors JESSE CORTEZ jesse.cortez@svn.com 412.848.2016 ANDREAS KAMOUYEROU, CCIM andreas.kamouyerou@svn.com 724.825.0888 8.81%
- 23. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF LAND | 2042 CENTRE AVE | PITTSBURGH, PA $1,500,000 $45,000 26,332 SF ○ Directly across the street from the New Granada Square development project which includes 40 apartments, 5,000 SF of street-level retail, 15,000 SF for food & beverage, and 26,000 SF of offices ○ The University of Pittsburgh anchors the project occupying 18,000 SF ○ Other notable developments include the 28-acre, $220M FNB Financial Center, the opening of the 31,000 SF Salem's Market, the $9M YMCA $57 SVN | Three Rivers Commercial Advisors JESSE CORTEZ jesse.cortez@svn.com 412.848.2016 ANDREAS KAMOUYEROU, CCIM andreas.kamouyerou@svn.com 724.825.0888
- 24. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap SELF STORAGE | 13265 US-422 | KITTANNING, PA $2,250,000 $45,000 61,000 SF ○ 324 unit porfolio ○ 61,000 SF ○ Easy value-add opportunity through proactive management and lease up ○ Vacant parcel included in sale can be developed into an additional 39 units $37 SVN | Three Rivers Commercial Advisors JESSE CORTEZ jesse.cortez@svn.com 412.848.2016 GARRETT CHERAN garrett.cheran@svn.com 724.759.5164 8.3%
- 25. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF Cap MIXED USE | 4041 LIBERTY AVE | PITTSBURGH, PA $2,677,000 $80,310 24,000 SF ○ 21-space integral & secure parking garage ○ Up to 8,000 SF vacant for owner-user or multiple tenants ○ Less than .5 mile away from UPMC Children's Hospital ○ Current ownership willing to do a sale-leaseback for a 5 year term $112 SVN | Three Rivers Commercial Advisors JESSE CORTEZ jesse.cortez@svn.com 412.848.2016 ANDREAS KAMOUYEROU, CCIM andreas.kamouyerou@svn.com 724.825.0888 7.23%
- 26. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF RETAIL | 2918 LEBANON CHURCH RD | WEST MIFFLIN, PA $2,950,000 $88,500 25,458 SF ○ 145’ of frontage ○ 2.97 acre site $116 SVN | Three Rivers Commercial Advisors JESSE CORTEZ jesse.cortez@svn.com 412.848.2016 ANDREAS KAMOUYEROU, CCIM andreas.kamouyerou@svn.com 724.825.0888
- 27. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF SELF STORAGE | JACKSON MS STORAGE PORTFOLIO | JACKSON, MS $5,200,000 $78,000 81,000 SF ○ 701 units ○ Value add opportunity ○ $677,000 Pro Forma NOI ○ 9.03 acres ○ 3 mile population of 55,000 $64 SVN | Toomey Property Advisors KATELEIGH CALLOWAY kateleigh.calloway@svn.com 205.937.2299 JUSTIN TOOMEY justin.toomey@svn.com 251.680.3663 SVN | Wilson Commercial Group KRISTEN ASMAN kristen.asman@svn.com 614.370.9077
- 28. 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. © 2023 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre GOLF & RESORTS | 61809 STONEGATE DRIVE | CENTREVILLE, MI $5,599,000 $167,970 300 acres ○ Island Hills Golf Club, Villas and Development Lots - located on the popular Lake Templene midway between Chicago and Detroit ○ 18-hole golf course by award-winning designer and architect Raymond Hearn with upscale clubhouse, dining and event facilities ○ Three luxurious golf villas for 'stay and play' with approval for more ○ 141 lots - potential for residential, more lodging and expanding amenities $18,663 SVN | Northco 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
- 29. THANK YOU for joining us!
- 30. 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.