SVN Live 7.17.23 Weekly Property Broadcast
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The SVN weekly property broadcast for July 17, 2023, highlights economic updates including a 0.2% rise in the consumer price index, with shelter being the primary contributor to inflation. The document details various commercial property transactions, providing sale prices, sizes, and significant highlights for each deal, along with a featured inventory of investment opportunities. It concludes with invitations to upcoming events and a disclaimer about the accuracy of the information provided.
SVN Live 7.17.23 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ The consumer price index (CPI) rose by 0.2% month-over- month and 3.0% year-over-year through June, according to the latest numbers from the Bureau of Labor Statistics. June’s monthly pace was a slightly uptick from May, but inflation continued to trend down on an annual basis. ○ Shelter remains the largest contributor to month-over-month price increases, accounting for roughly 70% of the increase. Food prices rose 0.1% in June, 10 basis points below the previous month’s rate—this was mostly driven by the ‘food away from home’ index, which rose 0.4% in June, while food at home saw no change. Energy prices rose 0.6% in June but have fallen -16.7% over the past 12 months. ○ Excluding food and energy, core inflation also rose 0.2% in June, but was the smallest 1-month increase in core prices since the summer of 2021. Since core-inflation is more consequential in central bank policy making, the core-CPI’s two-year low represents a significant milestone. Inflation
- 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 Lease Value Lease Terms Size $1,040,000 5 years INDUSTRIAL | 1650 NW 18TH STREET | POMPANO BEACH, FL ○ Represented the tenant, Crown Products, in their 5 year lease renewal with Blackstone ○ Last year’s rent was $12 psf NNN ○ New year’s rent is $16 psf NNN (33% increase) ○ LL wanted $18 psf NNN 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 28,787 SF
- 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 $1,100,000 7,928 SF INDUSTRIAL | 7321 E NORA AVE | SPOKANE, WA ○ Industrial property situated on two parcels consisting of 1.04 acres ○ Graveled lot | Partially fenced ○ Three (3) 12' and one (1) 14' grade level overhead doors ○ 1,176 SF detached office space renovated in 2009 SVN | Cornerstone NATE GANT nate.gant@svn.com 509.993.4440 $138
- 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 Size Price/SF Cap $1,150,000 15,990 SF OFFICE | 1525 ADDISON AVE. EAST | TWIN FALLS, ID ○ Received numerous offers within days of the property coming on market ○ Buyer secured loan in spite of issues with the property condition ○ Approximately 80% of units occupied by personal service businesses (hair & nail salons, massage therapists, etc.) ○ 41 out of 45 spaces occupied at time of sale ○ Zoning allows a variety of commercial uses ○ Located on one of main commercial corridors in Twin Falls SVN | Intermountain Investments, Inc. HEIDI MICKELSON, SIOR, CCIM heidi.mickelson@svn.com 208.861.9982 $72 7.89%
- 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 Cap $1,260,000 5,480 SF RESTAURANT | 1726 W KATHLEEN AVE | COEUR D'ALENE, ID ○ Sold over asking price ○ Restaurant investment in the growing community of Coeur d'Alene, ID ○ Successful tenant, The Mango Tree, has four other locations in the Greater Spokane area ○ Lease is NNN, through August 2028 with 3% escalations SVN | Cornerstone GUY BYRD guy.byrd@svn.com 509.953.5109 $230 6.35%
- 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 Lease Value Lease Terms Size $1,389.939 72 months OFFICE | 693 RAY J GLATT CIRCLE | WOODBURN, OR ○ Non-profit tenant ○ Among the largest medical office leases done in this submarket ○ Secured 'Right of First Offer to Purchase' ○ Landlord concessed 29.7% of lease value SVN | Commercial Advisors, LLC NICK WILLIAMS nick.williams@svn.com 503.588.0400 8,989 SF
- 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 Lease Value Lease Terms Size $1,675,872 7-year initial term OFFICE | 2343 ALEXANDRIA DRIVE, SUITE 200 | LEXINGTON, KY ○ Tenant needed to relocate as a result of being acquired ○ SVN negotiated a strong tenant improvement allowance and rent abatement period on behalf of the tenant ○ Tenant will occupy the most square footage of any other tenant in the building SVN | Stone Commercial Real Estate WADE HAGA wade.haga@svn.com 859.285.2202 MATT STONE, CCIM, SIOR, MBA matt.stone@svn.com 859.306.0593 11,216 SF
- 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 Sale Price Size Price/SF Cap $1,869,000 62,500 SF INDUSTRIAL | 2407 N PRESTON ST | ENNIS, TX ○ Acquisition cost of $29.90 per foot, significantly below market sales comps and replacement cost ○ Strong market and submarket with vacancy rates under 4% ○ Value-add component achieved by replacing the departing tenant at market rates, and making building improvements ○ Private syndication by Fithian SVN | Trinity Advisors STEVE FITHIAN, CCIM, CPM, CPA steve.fithian@svn.com 817.288.5524 TRINITY (TRENT) HERRERA trinity.herrera@svn.com 682.704.8789 $29.9 13.30%
- 12. 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/Acre $2,350,000 9.7 Acres LAND | 3041 OCEAN HEIGHTS AVE | EGG HARBOR TWP, NJ ○ Site Plan approved for 85,950 gross square feet ○ All single-story construction ○ Local seller: Storage Authority ○ Regional buyer: Access Self Storage ○ With rising rates, sellers decided NOT to build the project - property placed under contract within four weeks of listing SVN | Commercial Realty NICK MALAGISI nick.malagisi@svn.com 716.633.9601 $242,268 HANS HARDISTY, CCIM, MBA hans.hardisty@svn.com 914.489.7909 SVN | Commercial Realty
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $1,500,000 $15,000 10 lots ○ Visit www.SFRhub.com and search for portfolio 101504 for more information ○ Timber Cove offers significant short term vocational rental development opportunity ○ 10 lots being sold for potential vacation short term-rentals or for sale retail homes ○ Lots are near construction ready and all plans and architectural drawings convey SVN | SFRhub Advisors MICHAEL FINCH michael.finch@svn.com 480.797.9825 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 LAND | 10 LOT STR DEVELOPMENT OPPORTUNITY | SEVIERVILLE, TN SVN | Wood Properties GEORGE BROWN george.brown@svn.com 865.804.1188
- 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 Transaction Highlights Sale Price Size Unpriced 122 units SFR PORTFOLIO | 122 UNIT SFR INVESTMENT PORTFOLIO | WEST PALM BEACH, FL ○ AUCTION AUGUST 21ST-23RD ALL BUYERS MUST REGISTER AT TenX ○ Massive economic value add opportunity ○ Diverse home and unit mix in sought after West Palm Beach MSA ○ Currently 86% occupied with fully vetted tenants ○ JBREC predicts 8% rent growth from today through the end of 2024 SVN | SFRhub Advisors MICHAEL FINCH michael.finch@svn.com 480.797.9825 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 SVN | Commercial Partners SCOTT MAESEL maesel.s@svn.com 312.676.1860
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $2,720,000 $81,600 30,600 SF ○ 28,000 SF warehouse ○ 2,600 SF office ○ 16' to 22' ceiling heights in warehouse ○ 3 docks ○ Drive-in bay ○ 4 doors INDUSTRIAL | 2734 MIDDLEBROOK PIKE | KNOXVILLE, TN $88 SVN | Wood Properties TAYLOR DURAND taylor.durand@svn.com 865.776.5662 MATTHEW STROTHER matthew.strother@svn.com 865.309.6272
- 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 Size Price/SF SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $2,335,000 $58,375 7,928 SF ○ Equipment included in sale ○ Great onsite parking ○ Well established & popular taphouse ○ Beautiful new outdoor seating area with firepit RESTAURANT | 1170 BOONE ROAD SE | SALEM, OR $295 SVN | Commercial Advisors, LLC CURT ARTHUR, SIOR curt.arthur@svn.com 503.588.0400 NICK WILLIAMS nick.williams@svn.com 503.588.0400 ELIZABETH INFANTE elizabeth.infante@svn.com 503.588.0400
- 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/SF SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $10,000,000 $250,000 84,322 SF ○ Warehouse, flex, office three building corporate park ○ In the heart of DFW ○ Located 1/2 mile from Interstate 360, Interstate 30 and Ball Park Way ○ 83% leased ○ 10 miles to DFW Airport ○ Near Texas Live, Globe Life Park, AT&T Stadium, Six Flags, & Hurricane Harbor INDUSTRIAL | 2401-2415 AVENUE J | ARLINGTON, TX $118 SVN | Dunn Commercial DAVID DUNN, CCIM, SIOR david.dunn@svn.com 817.829.2828 KENDALL DEVAGE kendall.devage@svn.com 817-640-9964
- 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 Transaction Highlights Sale Price Size $14,000,000 5,500 SF MIXED USE | DREAM MALIBU BEACH HOUSE | MALIBU, CA ○ 3,500 SF flex/mixed-use space set along the stunning and photogenic Malibu coastline ○ Unit mix: (5) 1-bed, 1-bath units ○ Zoned for retail, this vibrant and eye-catching property is the perfect mixed-use commercial investment in one of the USA’s most sought-after locations ○ Previously owned by world-renowned fashion icon and socialite ○ Property boasts 36 jacuzzis, disco-themed dance room, Olympic swimming pool, private elevator, fully equipped gym, horse stables, and large, walk-in closet ○ Pink LED lighting throughout ○ Stabilized cash flowing with significant rent upside ○ Buyer may consult with the city for potential rezone options SVN International John McDermott john.mcdermott@svn.com Price/SF $2,545
- 21. www.SVN.com Events & Webinars TUESDAY JULY 18 Property Management Product Council Meeting 1:00 PM ET | 10:00 AM PT WEDNESDAY JULY 19 Economic Selling Webinar with Dr. Joshua Harris 1:00 PM ET | 10:00 AM PT THURSDAY JULY 20 Occupier Services Product Council Meeting 1:00 PM ET | 10:00 AM PT Date: July 17-21, 2023
- 22. THANK YOU for joining us!
- 23. 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.