SVN Live 8.7.23 Weekly Property Broadcast
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The document details the current state of the global data center market, highlighting strong demand alongside concerns about power shortages that could hinder growth. Despite these challenges, vacancy rates are declining, aided by increasing activity in sectors like AI and telecommunications. It also provides summaries of various property transactions, each with specific sale prices, highlights, and details about the properties involved.
SVN Live 8.7.23 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ Data center demand saw a notable rise in the CRE boom that took place between 2020 and 2022 and remains robust globally. However, according to a recent review by GlobeSt, the global data center market is facing a power shortage that could threaten its growth. ○ Since data centers require significant energy to operate, operators worldwide are prioritizing sourcing enough power, with certain secondary markets having robust power supplies and therefore, attracting more operators. ○ Despite these concerns, vacancy rates continue to fall in many areas, contributing to rising prices for the sector. ○ Demand in the sector remains strong due to the growth of artificial intelligence, streaming, gaming, and self-driving cars. Leasing activity in the data center market has shown resilience, driven by industries such as technology, financial services, healthcare, and telecommunications. Data Center Outlook
- 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 $1,200,000 1,984 SF RETAIL | 2390 COMMERCIAL ST SE | SALEM, OR ○ Listed & closed within 60 days ○ Corner location in the heart of South Salem ○ First time on market $605 SVN | Commercial Advisors, LLC CURT ARTHUR, SIOR curt.arthur@svn.com 503.588.0400 NICK WILLIAMS nick.williams@svn.com 503.588.0400
- 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 No. of Units Price/Unit $1,210,000 11 lots LAND | 4300 BLOCK OF BATTLE CREEK ROAD | SALEM, OR ○ Zoning: Fairview mixed-use ○ Fully entitled subdivision ○ Fairview addition phase 4 ○ Buyer was a national volume homebuilder $110,000/lot SVN | Commercial Advisors, LLC CURT ARTHUR, SIOR curt.arthur@svn.com 503.588.0400 GEORGE GRABENHORST george.grabenhorst@svn.com 503.588.0400
- 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 $1,300,000 2,970 SF RETAIL | 1026 MONROE STREET | SANTA CLARA, CA ○ Owner-user purchase ○ Sold to a local physical therapy group ○ Final sale within a larger portfolio (11 total assets sold by SVN) $438 SVN | Capital West Partners ROBIN SANTIAGO, SIOR, CCIM 01754421 robin.santiago@svn.com 408.601.0049
- 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 $1,635,000 11,114 SF SINGLE TENANT INVESTMENT | 5369 CAPTAIN FRITZ RD | EBRO, FL ○ Acquired via 1031 Exchange | Relinquished MF property old at 4.39% cap ○ 6.93% cap rate NNN investment ○ 13 years remaining on initial lease ○ 3.14 acres | Ability to develop additional retail on property ○ Client will use remaining funds to build their dream home in Florida $147 SVN | Commercial Partners JOHN PAUL ANDREWS john.andrews@svn.com 561.613.1403 6.93%
- 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 Cap $2,200,000 4,868 SF MULTIFAMILY | 1822 DIXIEANA ST | HOLLYWOOD, FL ○ 4.39% cap rate on current income ○ Value add multifamily & redevelopment opportunity ○ $169,231 per unit ○ Unit mix (8) studios, (4) 1BR/1BA (1) 2BR/1BA $452 SVN | Commercial Partners JOHN PAUL ANDREWS john.andrews@svn.com 561.613.1403 MASON HIGHMAN mason.highman@svn.com 561.282.9297 4.39%
- 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 $1,675,000 11,904 SF OFFICE | 166 PASADENA DRIVE | LEXINGTON, KY ○ Sold the building to an owner occupant who will be utilizing the asset for a new plastic surgery center ○ Negotiated a lease on the balance of the space to create additional income for the new buyer ○ This was a co-brokered transaction with another local brokerage firm $141 SVN | Stone Commercial Real Estate JOHN BUNCH, SIOR john.bunch@svn.com 859.433.8911
- 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/Acre $1,750,000 1.78 acres LAND | 3434 HIDALGO DRIVE | DALLAS, TX ○ Property had a multifamily structure on it that burned to the ground when property was vacant ○ Out of town owner decided to sell rather than build from scratch and manage that process remotely ○ Under contract within 45 days despite being a small site allowing only 75-80 units, in a difficult market for development land sites ○ Deal closed with no delays, extensions or re-trades $983,146 SVN | Dunn Commercial COURTNEY STANFORD, CCIM courtney.stanford@svn.com 972.998.2361 ANNA LEE MOORE annlee.moore@svn.com 972.670.5592 SVN | Angelic GABRIEL SILVERSTEIN, SIOR gabriel .silverstein@svn.com 512.953.3320 MALIA MEARS malia.mears@svn.com 954.650.7824
- 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/SF $3,250,000 7,122 SF RESTAURANT | 1352 S US HIGHWAY 1 | JUPITER, FL ○ Beautiful fully built-out restaurant building ○ There were 5 restaurant tenants over the years ○ Wrong location for a restaurant ○ An unmotivated seller who wanted to keep it a restaurant ○ After more than 4 years on the market, the seller finally listen to the broker, and we sold it to a medical group that is going to develop medical offices instead $456 SVN | Waterfront Commercial Realty ROBERT HAMMAN robert.hamman@svn.com 561.346.2310
- 13. 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 $5,143,869 68 months INDUSTRIAL LEASE | 6682-6830 NW 16TH TERRACE | FORT LAUDERDALE, FL ○ Eight months of lease negotiations ○ Tenant is a textile manufacturer ○ Over $100 million in annual sales ○ Building built by Les Byron's father 78,480 SF 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
- 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 Transaction Highlights Sale Price Size Price/SF $5,165,000 10,000 SF OFFICE | 3229 PREMIER DRIVE | IRVING, TX ○ 10,000 sf Class A office building in Las Colinas + pad site ○ 50% occupied at sale ○ Sold to a corporate user ○ Closed within 45 days $517 SVN | Trinity Advisors MATT MATTHEWS, MBA, CCIM matt.matthews@svn.com 972.765.0886
- 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/Acre SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ Subject to Offer 3% +/- 3.25 acres ○ +/- 3.25 AC corner parcel located at a prime lighted intersection in the highly desirable Naples, Florida ○ Daily traffic counts yielding 70,000 CPD with +/- 800 feet of frontage along Pine Ridge and Logan combined ○ Highest and best use includes commercial development of retail including gas stations and car washes, medical and multifamily ○ Land lease options available LAND | SW CORNER OF PINE RIDGE AND LOGAN BLVD | NAPLES, FL SVN | Commercial Partners FUJEHAT ARA fuje.ara@svn.com 954.235.5309 SAIRA MARIN saira.marin@svn.com 561.584.4603
- 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 $2,200,000 $55,000 31,529 SF 7.57 acres ○ Development opportunity ○ Zoned public ○ Income stream in place ○ 3 month +/- process for zone change (per city) ○ Beautiful setting OTHER | 925 S MAIN STREET | MT. ANGEL, OR SVN | Commercial Advisors, LLC CURT ARTHUR, SIOR curt.arthur@svn.com 503.588.0400 GEORGE GRABENHORST george.grabenhorst@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 Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $2,600,000 $52,000 8,100 SF ○ Unique portfolio of nine townhomes for sale ○ New roof, garage doors, gutters, and fencing in 2022 ○ Full exterior painted in 2023 ○ All units updated in 2022 and 2023 with new paint, sinks, countertops, flooring and more ○ Current rents average $1,500 and $1,750 per month, with the opportunity to raise rents ○ Each unit pays all of its own separately metered utilities and share of water, sewer, garbage MULTIFAMILY | 2824 E 32ND AVE | SPOKANE, WA SVN | Cornerstone MATTHEW BYRD matt.byrd@svn.com 509.499.9229 $321 5.57%
- 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 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
- 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 Size Price/Acre Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $3,499,000 $87,475 7.09 acres ○ Beautifully secluded Vestal, NY location with fast and easy highway access ○ Solid cement and brick structure ○ 3 phase electric ○ Ample surface lot parking ○ 3 year old ballasted roof with 3 inch styrofoam insulation ○ Updated HVAC complimented with high efficiency Mitsubishi units OFFICE | 209 AND 213 TRACY CREEK RD | VESTAL, NY 10.08% SVN | Innovative Commercial Advisors SCOTT WARREN, CCIM scott.warren@svn.com 607.621.0439 $493,512
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $6,500,000 $130,000 87,012 SF ○ Four buildings made up of B-Class office, medical & warehouse space ○ Signage space available for tenants ○ Management on site ○ Exterior loading docks & truck wells ○ 200+ parking spaces on site OFFICE | 275 CURRY HOLLOW RD | PLEASANT HILLS, PA $75 SVN | Three Rivers Commercial Advisors PERRY NICKLEACH perry.nickleach@svn.com 412.535.9692 RICHARD BEYNON richard.beynon@svn.com 412.536.5036
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $400,000- $7,707,000 2% 1,316 acres ○ CWMU ○ Hunting land ○ Potential redevelopment LAND | PROVO CANYON ROAD | PROVO, UT SVN | Alta Commercial KYLE ALLDREDGE kyle.alldredge@svn.com 801.380.3876 HAYDEN HOUSTON hayden.houston@svn.com 512.962.0316
- 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 No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $8,500,000 $170,000 78 units ○ Visit www.SFRhub.com and search for portfolio 101482 for more information ○ Six (56) single-family detached and eleven duplexes (22 Doors) ○ Ten 2-bedroom, thirty-nine 3-bedroom, eighteen 4-bedroom, and eleven 5- bedroom homes ○ 92% leased to fully vetted tenants ○ Average vintage of 1921 and were constructed between 1895 and 1944 SVN | SFRhub Advisors TOM JOHNSTON tom.johnston@svn.com 602.825.1780 TIM ORSCHELN tim.orscheln@svn.com 480.291.4330 SFR PORTFOLIO | 78 HOME SFR INVESTMENT PORTFOLIO | BUFFALO, NY 10.2% $108,974 SVN | Commercial Realty NICHOLAS J. MALAGISI nick.malagisi@svn.com 716.633.9601 JOHN FLETCHER john.fletcher@svn.com 716.698.8401
- 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 No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $12,000,000 $240,000 181 units ○ Visit www.SFRhub.com and search for portfolio 101352 for more information ○ 141 homes are Section 8 ○ Average home vintage of 1916 ○ Average home size is 1,096 square feet ○ Mix of one, two, three, four and five-bedroom homes ○ Portfolio a mix of single-family homes, duplexes and small multi-family properties ○ Homes are in close proximity for ease in management SVN | SFRhub Advisors TOM JOHNSTON tom.johnston@svn.com 602.825.1780 MICHAEL FINCH michael.finch@svn.com 480.797.9825 SFR PORTFOLIO | 181 HOME SFR INVESTMENT PORTFOLIO | CLEVELAND, OH 13.84% $66,298 SVN | First Place Commercial Realty, LLC VICTOR S. VOINOVICH, SR voinovichv@svn.com 216.235.2588
- 26. THANK YOU for joining us!
- 27. 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.