SVN Live 4.22.24 Weekly Property Broadcast
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The weekly property broadcast dated April 22, 2024, highlights a significant turnaround in U.S. logistics activity, with the logistics managers' index showing its fastest expansion since September 2022, driven by inventory increases and improved warehousing efficiency. Key property transactions include land sales in Florida and Texas, various industrial sales, and retail properties, highlighting a diverse range of investment opportunities. Overall, the document notes strong demand in the industrial real estate market, supported by recent transaction activity and market trends.
SVN Live 4.22.24 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 April 22, 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 the Logistics Managers' Index, US logistics activity experienced its fastest monthly expansion since September 2022 during March, reaching an index level of 58.3. ● While growth levels remain at the lower end, this signals a healthy turnaround for industries that impact warehousing and transportation. According to the report, recent growth is attributed to "long-planned inventory expansions and improved efficiency in warehousing and transportation." ● An increase in inventory levels drove the overall expansion in the index in March as inventories reached their highest mark since October 2022. ● Consequently, warehouse capacity contracted, its first since January 2023. Absorption of warehouse capacity is a sign of strengthening demand, a bullish signal for the Industrial real estate market. Logistics Activity Surges, Fastest in 19 Months
- 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 | 77TH ST | VERO BEACH, FL $4,300,000 48.35 acres $88,935 ● Access to the Atlantic Ocean, I-95, and State Road 60 ● 1,300 ft of water frontage on the Indian River ● Benefits new development in the immediate area including a new Publix shopping center one mile to the north ● 48.35 gross acres with around 24 acres of wetlands Tyler Davis, ALC tyler.davis@svn.com 205.441.8538 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 INDUSTRIAL | 609 INDUSTRIAL BLVD | GRAPEVINE, TX $3,650,000 12,000 SF $304 ● NNN investment in Grapevine, TX ● Sold at a 7% cap ● Single Tenant ● Corporate lease with national credit tenant ● Corporate office and warehouse with distribution and gated yard Matt Matthews, MBA, CCIM matt.matthews@svn.com 972.765.0886 SVN | TRINITY ADVISORS 4.44%
- 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 LAND | 4230 US HIGHWAY 17 S | ZOLFO SPRINGS, FL $2,500,000 288 acres $8,681 ● 105 ± acres of established Floratam fields ● Two center-pivot irrigation systems ● Irrigation to all 185 acres of farmable ground ● 1,860 ± feet of road frontage on SR 17 Daniel Lanier daniel.lanier@svn.com 863.698.2971 SVN | SAUNDERS RALSTON DANTZLER
- 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 Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS SINGLE TENANT INVESTMENT | 701 COMMERCE DRIVE | PERRYSBURG, OH $2,187,500 6,777 SF $323 ● Sold to local MOB investor in exchange with financing ● Sold at 95% of list price ● Closed a month early after DD extension was exercised Tim Schlachter, CCIM tim.schlachter@svn.com 419.540.8888 SVN | ASCENSION COMMERCIAL REAL ESTATE 7% SVN | RICH INVESTMENT REAL ESTATE Josh Snyder josh.snyder@svn.com 310.425.3377
- 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 Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS MULTIFAMILY | 750 MAPLE ST | MANSFIELD, OH $1,550,000 27,774 SF $56 ● Second time selling this property ● Property sold at ask price which was a 7% cap based on actual performance ● Recently renovated 24 unit, 2 bedroom/ 1 bath units in the heart of Mansfield Seth Asman seth.asman@svn.com 614.747.2052 SVN | WILSON COMMERCIAL GROUP, LLC 7%
- 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/SF Cap PROPERTY DETAILS TRANSACTION HIGHLIGHTS RETAIL | 4401 E LANCASTER AVE | FORT WORTH, TX $1,350,000 23,760 SF $57 ● Owner occupy one half of building ● Dollar General occupied and renewed for one half the building ● Had to replace lender one week before closing ● Many obstacles to overcome James Blake, CCIM james.blake@svn.com 817.288.5508 Andrew Banken andrew.banken@svn.com 817.717.6353 SVN | TRINITY ADVISORS 4.44%
- 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. Lease Value Lease Terms Size PROPERTY DETAILS TRANSACTION HIGHLIGHTS INDUSTRIAL LEASE | 840 TROLLINGWOOD HAWFIELDS RD | MEBANE, NC Confidential Confidential 23,000 SF ● Long term lease to Fortune 500 subsidiary in the automotive repair business ● Limited supply of industrial free-standing buildings of this size ● Located in growing Alamance County between Triangle and Triad metro areas ● About 1 mile from NC's first Buc-ee's currently under construction Carey Greene carey.greene@svn.com 919.287.2135 Reggie Oakley reggie.oakley@svn.com 919.287.3213 Brian Alonso brian.alonso@svn.com 919.287.3217 SVN | REAL ESTATE ASSOCIATES
- 12. F E A T U R E D INVENTORY W W W . S V N . C O M
- 13. 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 $1,690,198+ $78,814,219+
- 14. 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 SFR PORTFOLIO | DYNAMIC TRI-PLEX BFR INVESTMENT PORTFOLIO | CHICAGO, IL $29,700,000 $222,750 81 units ● Visit www.SFRhub.com and search for portfolio 1001615 for more information ● Excellent opportunity to purchase 81 homes in 27 buildings at Certificate of Occupancy ● Opportunity to purchase completed, fully leased buildings (2) and soon to be delivered buildings ● All homes will be finished by Q3 of 2024 ● Co-listed with North Clybourn Group, Staci Slattery (staci@ncgchicago.com, 773.410.7585) $366,667 6.67% Michael Finch michael.finch@svn.com 480.797.9825 Tom Johnston tom.johnston@svn.com 602.825.1780 SVN | SFRHUB MARKETPLACE
- 15. 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 FLEX/INDUSTRIAL | 55 6TH ROAD | WOBURN, MA $12,000,000 $150,000 ±55,300 SF ● One story with mezzanine flex/warehouse building totaling ±55,300 SF on ±2.99 acres ● 92% leased by six strong credit tenants ● Tenant mix includes traditional warehouse, R&D, & flex users ● True turn-key investment opportunity for any investors who want to be in the suburban Boston market ● 8 docks, 2 drive-Ins | 22’ ceiling ● Located in an established Industrial Park, just minutes from I-95 and I-93 ±$217 Pro Forma 6.75% Alex Berger alex.berger@svn.com 508.271.9205 Arlon Brown arlon.brown@svn.com 508.271.9215 SVN | PARSONS COMMERCIAL GROUP
- 16. 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 | 4040 33RD STREET SOUTH | ST. CLOUD, MN $11,453,219 $687,193 41 acres ● Approved for 287 multifamily units adjacent to 280 acre Neenah Creek Park ● Tentative plans include a YMCA on site ● Adjacent to a number of high-end single family subdivisions ● Targeted uses are assisted living, office, bank, restaurant, retail, grocery ● Adjacent to new $125M St. Cloud Tech High School ● Near two Charter Schools ● Easy access to Highway 15 and I-94 $279,347 6.67% Mike Bobick mike.bobick@svn.com 320.333.2692 Terrie Schramel terrie.schramel@svn.com 320.290.6535 Tom Sanquist tom.sanquist@svn.com 320.282.2042 SVN | GC REAL ESTATE
- 17. 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 | 106 HWY 17 | CRESCENT CITY, FL $7,500,000 $187,500 59 acres ● Magnificent 59 acre waterfront property on Crescent Lake ● Crescent Lake is 16,000 acres and recognized as Bass Fishing Capital ● Lake accommodates 50' to 100' boats, kayaks, etc and has access to St Johns River ● Frontage on 17 provides convenient drive east to historic St Augustine Florida $127,119 Pro Forma 6.75% Glenn Palmer glenn.palmer@svn.com 904.251.5109 SVN | FIRST COAST COMMERCIAL REAL ESTATE SPECIALISTS
- 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 | 330 S NAPERVILLE ROAD | WHEATON, IL $2,900,000 $87,000 35,400 SF ● 4-story multi-tenant executive office ● 23 executive suites | 62% occupied ● Bank anchored with drive-through ● Lower level breakroom with storage and fifth floor mechanicals ● Below replacement cost and Value-add for Investor or Owner-User $82 7.38% Karen Kulczycki, CCIM kkulczycki@svn.com 630.330.3352 SVN | CHICAGO COMMERCIAL
- 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 INDUSTRIAL | 16030 PARK AVENUE ( 16022 & 16029 LOOMIS AVENUE) | HARVEY, IL $1,295,000 $38,850 26,000 SF ● ±26,000 SF warehouse, office, yard, residential on ±4.56 AC ● 5- DID from 12'x14' to 8'x8' ● Heavy power | Clear height 14' to 20' ● Near railroad intermodal and interstate highways I- 57, I-294, I-94 and I-80 ● SBA HubZone, Class 8 Tax Incentive, Enterprise & Opportunity Zone $50 7.38% Karen Kulczycki, CCIM kkulczycki@svn.com 630.330.3352 SVN | CHICAGO COMMERCIAL
- 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 | 369 WEST MAIN STREET | NORTHBOROUGH, MA $2,800,000 $42,000 14,251 SF ● ±14,251 SF, multi-tenant retail asset on 2.01± acre corner lot, over 100± parking spaces ● Turn-key, stabilized investment opportunity with further upside potential ● 7 fully leased units, ranging from 1,250± to 3,200± SF ● High occupancy rates from 91% to 100% ● Prime location off Route 20 near other retailers with favorable traffic counts: 16,556 ADT ● Single Tax Rate - Set at a low $14.28 per thousand $196 7.30% Marilyn Santiago marilyn.santiago@svn.com 508.271.9230 Garrett Quinn garrett.quinn@svn.com 508.271.9229 SVN | PARSONS COMMERCIAL GROUP
- 21. 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 | 3-11 TURNPIKE ROAD | SOUTHBOROUGH, MA $2,000,000 $30,000 7,778 SF ● ±7,778 square foot, multi-tenant retail asset on Route 9 MA with 457' of frontage on 0.83± acres ● The property is 95% occupied with just a single office space available ● Exceptional traffic counts ● 37,124±ADT destination retail market ● Outside of “Golden Triangle” 1 mile from I-90 single tax rate ● Set at a low $13.91 per thousand $257 6.27% Marilyn Santiago marilyn.santiago@svn.com 508.271.9230 Garrett Quinn garrett.quinn@svn.com 508.271.9229 SVN | PARSONS COMMERCIAL GROUP
- 22. 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 | 914 CHAMPION FERRY RD | GAFFNEY, SC $2,550,000 $63,750 10.5 acres ● 10.5 acres ● 81,010 sf ● 100 ft clear span ● Updated office & laboratory space ● 9 dock doors ● Partition ● Drive in bay ● Additional offices ● $2.95/ft+ NNN lease available $242,857 7.38% Matthew Nocella matthew.nocella@svn.com 864.640.9580 Loudon Brooks loudon.brooks@svn.com 864.992.9379 SVN | BLACKSTREAM
- 23. 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 OFFICE | 21321 E OCOTILLO RD #108/6828 E BROWN RD #100 & #101 | QUEEN CREEK, AZ $2,315,000 $57,875 Queen Creek: 2,736 SF Mesa: 3,194 SF ● Multi-property, two-tenant, NNN investment portfolio ● Both assets located in well-stabilized, growing portions of the market ● All leases are absolute NNN & reimburse Ownership for all associated expenses ● Three and a half years remaining on all three leases ● Compounding pharmacy is personally guaranteed Richard Lewis richard.lewis@svn.com 480.425.5536 Justin Horwitz, SIOR justin.horwitz@svn.com 480.425.5518 Aaron Gutierrez aaron.gutierrez@svn.com 480.425.5517 Sean Alderman sean.alderman@svn.com 480.425.5520 SVN | DESERT COMMERCIAL ADVISORS
- 24. 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 | 5577 OLD HIGHWAY 11E | MORRISTOWN, TN $1,600,000 $48,000 12,000 SF ● Leasehold interest sale ● Two 6,000 SF hangars ● Built in 2021 ● 26 years remain on ground lease ● Hangar B available ● Hangar C leased for $6,000/mo $133 7.38% Taylor Durand taylor.durand@svn.com 865.776.5662 Matthew Strother matthew.strother@svn.com 865.309.6272 SVN | WOOD PROPERTIES
- 25. 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 | 2201 WEST BROADWAY | LOUISVILLE, KY $1,551,000 $46,530 4,168 SF ● Just a few blocks from the new $100 million hospital being constructed ● Established presence in the West Louisville Corridor ● Prime corner lot location for visibility and access ● Proximity to amenities and conveniences for street retail ● Strong investment opportunity $372 7.38% Tommy Clark, M.U.P. tommy.clark@svn.com 502.641.3199 Kimberly Dattilo kimberly.dattilo@svn.com 502.939.0106 SVN | MENISH COMMERCIAL REAL ESTATE
- 26. 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 | 4437- 4447 W RICE STREET | CHICAGO, IL $1,150,000 $28,750 21,978 SF ● Functional manufacturing facility located in the nearly fully occupied West Humboldt Park submarket ● PMD-9 zoning (Planned Manufacturing District) ● Heavy power ● Opportunity Zone ● Enterprise Zone ● TIF District of the Northwest Industrial Corridor $52.32 7.38% David Pernice david.pernice@svn.com 312.607.3300 John Joyce, CCIM, SIOR john.joyce@svn.com 847.778.1254 SVN | CHICAGO COMMERCIAL
- 27. 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 LAND | 5886 GREENWICH RD | SEVILLE, OH Subject to Offer 3% 109.38 acres ● Great highway interchange ● Recreational use possibilities ● Great topography ● Growing Medina County area of Northeast Ohio $50 7.38% Tyler Robin tyler.robin@svn.com 330.591.7974 Aaron Davis aaron.davis@svn.com 330.221.7297 Jerry Fiume, SIOR, CCIM jerry.fiume@svn.com 330.416.0501 SVN | SUMMIT COMMERCIAL REAL ESTATE ADVISORS
- 28. E V E N T S W W W . S V N . C O M E V E N T S & W E B I N A R S No events next week. See you in Miami! April 22-27, 2024 WEDNESDAY APRIL 24 BEST PRACTICES WITH JOHN MCDERMOTT 1:00 PM EST | 10:00 AM PT
- 29. F O R J O I N I N G U S T H A N K Y O U
- 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.