Weekly Property Broadcast October 25th, 2021 Summary
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- The document provides information on recent construction spending and real estate transactions. Construction spending in the US reached a new all-time high in August 2021, with residential construction seeing the largest growth. Commercial construction was also up year-over-year. Several commercial real estate transactions are described, including industrial, retail, office, and specialty properties. Featured inventory from SVN brokers is also listed, highlighting investment opportunities.
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Weekly Property Broadcast October 25th, 2021 Summary
- 3. www.SVN.com Economic Updates Provided by ā According to the Census Bureau, the seasonally adjusted value of new US construction put in place totaled an annualized $1.58 trillion as of August 2021ā a new all-time high and an 8.9% improvement from one year ago. ā Residential construction unsurprisingly posted the highest growth rate for the year ending August 2021, with the total value of new construction put in place rising a stratospheric 23.9%. ā Commercial construction, which includes both retail properties as well as warehouses and distribution facilities amongst other uses, is up 6.9% year-over-year. CONSTRUCTION SPENDING
- 5. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $1,600,000 11,143 SF $144 INDUSTRIAL | 2690 W BARBERRY PLACE | DENVER, CO ā Buyer: A trust controlled by Adrianna Abarca, who is part owner of Ready Foods and founder of the Latino Cultural Arts Center, Denver ā Buyer owns properties in the neighborhood and wanted to continue its use as artist's studios for the foreseeable future ā Main hurdle: This is a unique building that required many upgrades. Most potential buyers offered far less than the value of the building in an attempt to accommodate the costs of potential upgrades ELIZABETH LEDER liz.leder@svn.com 720.575.9109 SVN | Denver Commercial BRIAN MCCRIRIE brian.mccririe@svn.com 720.893.2834
- 6. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF Cap PAUL COOK paul.cook@svn.com 505.385.4744 SVN | Walt Arnold Commercial Brokerage, Inc. $2,000,000 21,000 SF $95 INDUSTRIAL | 1506 CANDELARIA ROAD NE | ALBUQUERQUE, NM ā 21,000 SF industrial building on 2.5 acres ā Investment sale ā Tenant paying a below market rate with two options to renew for ļ¬ve years each ā $750,000.00 above 2019 appraised value 5.6%
- 7. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF Cap $3,900,000 22,361 SF $174 RETAIL | 4053-4083 WEST ALGONQUIN ROAD | ALGONQUIN, IL ā Buyer's third acquisition of property this year ā 12 tenant retail strip center with local and national tenants ā Property is surrounded by residential subdivisions and golf courses ā Very happy buyer with an appetite for more Chicago and Kentucky opportunities 8.7% JONATHAN LAISE jonathan.laise@svn.com 502.475.9635 SVN | Menish Commercial Real Estate BILL MENISH bill.menish@svn.com 502.939.0399 SVN | Chicago Commercial TIM FRANZ tim.franz@svn.com 708.307.0716
- 8. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Lease Value Lease Terms Size JIM MEAD, CCIM james.mead@svn.com 312.676.1871 SVN | Chicago Commercial $3,997,600 10 years 21,040 SF OFFICE | 980 N MICHIGAN AVENUE, 19TH FLOOR | CHICAGO, IL ā 21,040 SF full ļ¬oor, 10-year lease transaction ā Located at 980 N. Michigan Avenue, aka One Magniļ¬cent Mile, Chicago, IL ā Chicago Paciļ¬c Fund, the tenant who Mead represented, is a healthcare investment fund
- 9. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF Cap SVN | Alta Commercial $6,360,000 56,500 SF $113 ā Property is situated on 9.73 acres in a prime industrial submarket near downtown ā With many leases at below market rate, as well as a 6.3% cap rate transaction, this is an incredible value-add play for a buyer whose focus is primarily on outdoor storage facilities TIA SHIM, ESQ. tia.shim@svn.com 801.508.2881 CHET BARBER chet.barber@svn.com 801.783.2064 GABRIEL SILVERSTEIN, SIOR gabriel.silverstein@svn.com 512.953.3320 SVN | Angelic WILLIAM MOORE william.moore@svn.com 949.933.1063 SVN | Realty Advisors INDUSTRIAL | 1624-1636 S PIONEER ROAD | SALT LAKE CITY, UT 6.3%
- 10. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $9,183,000 96,358 SF $95 INDUSTRIAL | 6682-6830 NW 16TH TERRACE | FORT LAUDERDALE, FL ā Originally built in 1976 for an IBM sister company: Modcomp Computers ā Seller leasing back for 1 year with 6 months free ā Next highest offer was $2 million lower from the next door neighbor ā Built by Les Byronās dad LES BYRON, CCIM, SIOR les@svncr.com 954.401.4713 SVN | Commercial Realty KEITH KIDWELL, CCIM, SIOR keith@svncr.com 954.234.8777 STEVE DAVIS steve@svncr.com 954.650.7824
- 11. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Transaction Highlights Sale Price Size Price/SF $13,200,000 54,664 SF $241 OFFICE | 2150 COUNTRY DRIVE S | SALEM, OR ā Former Regional Center for Country Financial ā Purchased by a partnership between the valley's largest orthopedic practice and the local hospital ā Will be the home to Hope Orthopedics and a full surgery center ā Price included an additional 4.96 acres for expansion or recruitment of preferred referral sources CURT ARTHUR, SIOR curt.arthur@svn.com 503.588.0400 SVN | Commercial Advisors LLC
- 14. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF INDUSTRIAL | 50 MADISON STREET | MAYWOOD, IL $1,650,000 $41,250 43,000 SF ā 43,000 SF industrial facility on a 3.1 acre site for sale ā Located in a TIF District and opportunity zone ā Potential Cook County 6B tax incentive ā Prime inļ¬ll location with 2M+ people within 10 miles ā Exceptional potential for building expansion, trailer parking, or development $38 JOHN JOYCE john.joyce@svn.com 847.778.1254 SVN | Chicago Commercial DANIEL VANECKO daniel.vanecko@svn.com 773.750.5312
- 15. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre LAND | 206 ROCK CREEK | FAIR PLAY, SC $1,700,000 $119,000 61 acres ā 61.15 acres agricultural land ā 1-acre residential land fully operational chicken breeder farm. 10640 pullets. ā 950 cockerels barn $27,869 JEFF HAMMOND jhammond@svn.com 210.889.6819 SVN | Creviston Realty, Inc.
- 16. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre LAND | 94 BEVIL ROAD | EMERSON, GA $1,950,000 $195,000 14 acres ā FFE Farm Business $139,286 JEFF HAMMOND jhammond@svn.com 210.889.6819 SVN | Creviston Realty, Inc. COURTNEY SMITH courtney.smith@svn.com 678.622.0435
- 17. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF OFFICE | 2043 PEARL STREET | BOULDER, CO $1,775,000 $53,250 2,219 SF ā Professional ofļ¬ce building available for occupancy ā Strategic location near new Google campus in Boulder ā Updated historic landmarked stand alone ofļ¬ce with onsite parking $800 STEVE KAWULOK steve.kawulok@svn.com 720.773.8695 SVN | Denver Commercial BRIAN MCCRIRIE brian.mccririe@svn.com 720.893.2834
- 18. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF RESTAURANT | 4817 SE DIXIE HWY | STUART, FL $3,850,000 $115,500 5,409 SF ā Waterfront restaurant situated along the Manatee Pocket ā High-volume seating capacity ā Complete books, records, ļ¬nancials, and tax returns ā Uninterrupted views of the water ā Indoor and outdoor dining areas, indoor bar, outdoor Tiki bar ā Easy access for boaters with plenty of parking $712 ROBERT HAMMAN robert.hamman@svn.com 561.346.2310 SVN | Florida Commercial Real Estate Advisors DAVID KENDALL david.kendall@svn.com 561.723.8463
- 19. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre MARINA | 106 BRANNAN ISLAND ROAD | ISLETON, CA $6,750,000 $168,750 10 acres ā 83 boat berths ā Full Boatworks facility with seasoned staff ā On over 10 acres of beautiful Delta property ā Full service restaurant with boat dock parking ā 3,600 SF home with 4 bedrooms and 2.5 bathrooms ā +/-$600,000 in EBITDA 2020 $675,000 MICHAEL COHEN michael.cohen@svn.com 415.717.9352 SVN | Delta Group Realty, Inc. SVN | Florida Commercial DAVID KENDALL david.kendall@svn.com 561.723.8463
- 20. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/SF RESTAURANT | 1640 SEAWAY DRIVE | FORT PIERCE, FL $6,900,000 $207,000 7,140 SF ā Waterfront restaurant situated along the Fort Pierce Inlet ā High-volume 200+ seating capacity ā Complete books, records, ļ¬nancials, and tax returns ā 1.7Ā± acres of land with uninterrupted views of the water ā Indoor and outdoor dining areas, indoor bar, outdoor Tiki bar ā Lush tropical landscaping, and a large parking lot with ample parking $966 ROBERT HAMMAN robert.hamman@svn.com 561.346.2310 SVN | Florida Commercial Real Estate Advisors DAVID KENDALL david.kendall@svn.com 561.723.8463
- 21. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre Cap GOLF & RESORT | 7353 HORSESHOE BAY RD | EGG HARBOR, WI $4,950,000 $148,500 4.09 acres ā Proļ¬table resort on 4.09 acres with 400 feet of private shoreline on the Green Bay section of Lake Michigan ā Located in the popular Midwest vacation destination of Door County, Wisconsin ā One of the only resorts in Door County directly on the water with many repeat visitors year after year ā Lodging buildings include a mix of motel rooms, cottages and townhouses - 30 units total 10.5% FRANK JERMUSEK frank.jermusek@svn.com 952.820.1615 SVN | Northco CAMERON PETERSON cameron.peterson@svn.com 952.820.1688 EMILIA MOLLE emilia.molle@svn.com 952.820.1618 $1,210,269
- 22. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee Size Price/Acre GARDEN CENTER & WHOLESALE NURSERY | US ROUTE 13 & US RT. 13 /RT. 50 BYPASS | EDEN, MD $8,000,000 $200,000 50.96 acres ā 50+ acres - 3,700' Highway Exposure ā Turnkey business with over $5.6 in gross sales for 2020 ā In business for over 29 years - Improved Sales Every Year ā 50 Greenhouses ā Adjacent 100 acres available $156,986 HENRY HANNA, CCIM, SIOR henry.hanna@svn.com 410.543.2440 SVN | Miller Commercial Real Estate FLO BROTZMAN ļ¬o.brotzman@svn.com 410.543.2440 WESLEY COX, CCIM wesley.cox@svn.com 410.543.2440
- 23. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee No. of Units Price/Unit Cap SFR PORTFOLIO | 62 HOME SFR INVESTMENT PORTFOLIO | SPOKANE, WA $16,645,000 $83,225 62 units ā Go to www.SFRhub.com to custom search for Portfolio 100813 to view additional information ā Value add as current rents are 22% below market rental rates ā 100% occupied by fully vetted and background checked tenants ā 80% are 2 and 3 bedroom homes, which are ideal for todayās renter proļ¬le ā Year One Leveraged IRR is projected at 24.8% ā BOR: Jim Bowles - Lee & Associates Commercial Real Estate Services Licence 12186 5.04% TOM JOHNSTON tom.johnston@svn.com 602.403.3695 SVN | SFRhub Advisors MICHAEL FINCH michael.ļ¬nch@svn.com 480.797.9825 $268,468
- 24. 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualiļ¬ed transactions, 50% of the gross commission to the buy side. All SVNĀ® ofļ¬ces are independently owned and operated. Ā© 2021 SVN International Corp. Property Details Property Highlights Price Buy Side Fee No. of Units Price/Unit Cap SFR PORTFOLIO | 549 HOME SFR INVESTMENT PORTFOLIO | LITTLE ROCK, AR $45,000,000 $675,000 549 units ā Visit www.SFRhub.com and search for portfolio 100773 for more information ā Value add opportunity with below-market rents and 19% vacancy rate ā The portfolio is 81% occupied with fully vetted tenants ā All homes renovated upon acquisition ā There are no HOAs within the portfolio ā Portfolio is self-managed ā Diverse asset mix provides investor with multiple exit strategies 7.76% TOM JOHNSTON tom.johnston@svn.com 602.403.3695 SVN | SFRhub Advisors MICHAEL FINCH michael.ļ¬nch@svn.com 480.797.9825 $81,967 SVN | ArkBest Realty TRACI ALLEN traci.allen@svn.com 501.320.5124
- 25. www.SVN.com Events & Webinars WEDNESDAY OCTOBER 27 A Force of the Future: Inside SVN's New Branding 10:00 AM PT | 1:00 PM ET THURSDAY OCTOBER 28 Land Council Meeting 11:00 AM PT | 2:00 PM ET THURSDAY OCTOBER 28 SVN Play 12:00 PM PT | 3:00 PM ET Date: September 25-31, 2021
- 26. THANK YOU for joining us!
- 27. Please visit www.svn.com for more information on the properties featured on todayās call and to view all of SVNās active listings. DISCLAIMER This information has been obtained from sources believed reliable. We have not veriļ¬ed 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 SVNĀ® ofļ¬ces are independently owned and operated.