SVN Live 8.21.23 Weekly Property Broadcast
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The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
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SVN Live 8.21.23 Weekly Property Broadcast
- 3. www.SVN.com Economic Updates Provided by ○ As Lodging delinquencies rise in some metros, some areas have considered hotel-to-multifamily conversions to reduce property vacancies and prevent a significant decline in values. ○ In New York City, where the industry has seen some success with such conversions, the Lodging delinquency rate stands at 15.3%, according to Trepp. Further, New York’s insufficient supply of affordable housing units has made the potential for such conversions more favorable compared to less housing-constrained metros. ○ Larger metros also continue to experience higher Lodging delinquencies, making them riper for such conversions compared to smaller cities. Houston and Chicago have contributed the most to Lodging delinquencies, with rates of 43.8% and 38.6%, respectively. Hotel to Multifamily Conversions
- 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 $2,875,000 9.942 SF OFFICE | 7110 WYOMING BLVD NE | ALBUQUERQUE, NM ○ Ophthalmology medical practice was looking to expand ○ SVN assisted the medical practice in purchasing their existing leased clinical building ○ Building will be modified to accommodate the physicians' new expansion plans $289 SVN | Walt Arnold Commercial Brokerage, LLC JOEL WHITE joel.white@svn.com 505.301.0717 HUNTER GREENE hunter.greene@svn.com 505.450.5612
- 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 Lease Value Lease Terms Size $1,150,097 7 years RETAIL | 4400 MCCOY DR | AURORA, IL ○ 1st generation space in strip center built in 2009 ○ Leased to Midwest Orthopaedics at Rush ○ Also leased 6,259 SF to Sandman Sleep and Qamaria Yemeni Coffee ○ SVN leasing activity in the last 60 days increased occupancy from 20% to 78% ○ 5,264 SF available for lease 5,458 SF SVN | Landmark Commercial JOEL MILLER, CCIM joel.miller@svn.com 630.270.6949
- 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 $1,400,000 10,219 SF INDUSTRIAL | 11024 N 22ND AVE | PHOENIX, AZ ○ 8 unit industrial ○ Multi-tenant, value add ○ Seller's husband developed this property in the late '70's ○ Quick close, all cash deal; multiple offers within first week, at ask ○ Proforma 9 cap $137 SVN | Desert Commercial Advisors AARON GUTIERREZ aaron.gutierrez@svn.com 602.396.8004 JUSTIN HORWITZ justin.horwitz@svn.com 480.425.5518 RICHARD LEWIS JR. richard.lewis@svn.com 480.425.5536
- 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 $1,525,000 7,260 SF RETAIL | 340-50 LINDEN AVENUE | WILMETTE, IL ○ +/- 7260 SF building on approx. 10,000 SF lot ○ Across from CTA Purple Line Linden Station ○ Purchased by a charitable foundation for their new offices/headquarters ○ Sold within 4% of asking price ○ Seller is repeat client of Wayne Caplan who was the sole broker in the transaction $210 SVN | Chicago Commercial WAYNE CAPLAN wayne.caplan@svn.com 312.529.5791
- 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/Acre $1,750,000 8.8 acres LAND | 3197 LEXINGTON ROAD | RICHMOND, KY ○ Generational, family owned land with interstate access ○ The site was listed in 2023 after 12 meetings with the owner ○ The site has been separated and still has 4.9 acres left to sell and redevelop ○ Highly visible from Interstate 75 and easily accessible $198,864 SVN | Stone Commercial Real Estate NEAL METCALFE neal.metcalfe@svn.com 859.312.8069
- 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 $1,963,603 7 years HEALTHCARE | 1212 MEDICAL PLAZA CT | GREANBURY, TX ○ This is a repeat client (I sold 1200 Medical Plaza) ○ They needed my assistance to help them renew their tenant's lease ○ Tenant has been there since 2013 (Lakeside Physicians) ○ Their renewal started in May 2023 ○ The new rent is $20.50/SF plus NNN ○ 7 years lease with 3% yearly increase ○ The lease is guaranteed by the hospital 12,882 SF SVN | Trinity Advisors ELIUD SANGABRIEL eliud.sangabriel@svn.com 972.839.0590
- 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 $3,200,000 5,901 SF RETAIL | 951 N ALTERNATE A1A | JUPITER, FL ○ Listed to under contract in 1 day ○ Closed in 30 days ○ Jupiter TRIFECTA ○ Moved the sellers business to a 5,500 SF end-cap at a Publix Anchored Shopping Center - long term lease ○ The new owner has retained us to lease the building $542 SVN | Waterfront ROBERT HAMMAN robert.hamman@svn.com 561.346.2310
- 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 $6,100,000 2.73 acres MARINA | 9954 HECKSCHER DR. | JACKSONVILLE, FL ○ SVN | Safe Haven Advisors represented Yamaha Motor Corp. U.S.A. to acquire Fort George Island Marina (FGIM) ○ This is the second time that we have represented the sale of this marina. (First time was in Dec, 2020) ○ Seller was able to achieve a 22% IRR from their initial investment ○ Yamaha plans to convert this into a private facility for R&D ○ Visit www.svnmarinas.com to learn more $2,234,432 SVN | Safe Haven Advisors DAVID KENDALL david.kendall@svn.com 561.723.8463 MIKE HOWELL mike.howell@svn.com 508.691.6050
- 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 Sale Price Size Price/Acre $10,000,000 34 acres LAND | GA 400 | CUMMING, GA ○ All cash as-is closing in 80 days ○ Another SVN Creviston Realty - SOLD ○ One of the largest cash buyers in the state of Georgia ○ No contingencies ○ Projected medical development ○ Proactive 50/50 cooperation with the outside brokerage community $294,118 SVN | Creviston Realty, Inc. DEL CREVISTON del.creviston@svn.com 770,.992.5112
- 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 No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $1,460,500 $36,513 12 units ○ Visit www.SFRhub.com and search for portfolio 100607 for more information ○ The majority of the homes are 2 and 3 bedroom homes which is ideal for today’s renter profile ○ Value add as current rents are 10% below market rental rates ○ The current asking price is over 30% below the median sale price in Akron of $192,300 ○ Stabilized year one cap rate projected at 6.24% SVN | SFRhub Advisors TIM ORSCHELN tim.orscheln@svn.com 480.291.4330 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 SFR PORTFOLIO | 12 HOME SFR INVESTMENT PORTFOLIO | CLEVELAND, OH 6.12% $121,708 SVN | First Place Commercial Realty, LLC VICTOR S. VOINOVICH SR voinovichv@svn.com 888.236.1435
- 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 No. of Units Price/Unit Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $17,765,000 $266,475 45 units ○ Visit www.SFRhub.com and search for portfolio 101100 for more information ○ Old Town Estates is within the new Cedar Hill City Center ○ Horizontal construction begins this summer ○ First home deliveries begin Q1 of 2024, and final completion is scheduled for August 2024 ○ Newly constructed build-for-rent homes in a highly desirable area SVN | SFRhub Advisors MICHAEL FINCH michael.finch@svn.com 480.797.9825 TOM JOHNSTON tom.johnston@svn.com 602.825.1780 BFR PORTFOLIO | OLD TOWN ESTATES 45 HOME BFR PORTFOLIO | CEDAR HILL, TX 5.41% $394,778 SVN | Trinity Advisors STEVE FITHIAN steve.fithian@svn.com 817.288.5525
- 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/Acre SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $2,548,318 $76,450 293.063 acres ○ Bank generated estate sale of 300 acres in SE Ohio (Gallipolis, Ohio) ○ Some commercial buildings of mixed use potential (previously used as pet crematorium) ○ Average sale price per acre: $7,600/AC ○ Extensive eco tourism in area around historical sites on Ohio River ○ Many nature activities including hunting, fishing, camping & hiking sites within subject acreage ○ City founded by 500 french immigrants in 1790 “City of Gauls” OTHER | 489 KLICHER RD | GALLIPOLIS, OH SVN | Wilson Commercial Group, LLC DOUG WILSON doug.wilson@svn.com 614.206.3881 $8,695
- 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 $2,850,000 $71,250 5,096 SF ○ Located 1 block from Randall Rd ○ Video gaming ○ Across the street from a recently built Showplace Cinema RESTAURANT | 1890 MILL ST | BATAVIA, IL $559 SVN | Chicago Commercial RONALD WEISSENHOFER ronald.weissenhofer@svn.com 630.712.2573
- 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 $3,800,000 $95,000 5,673 SF ○ Located on a busy thoroughfare Ogden Ave. ○ Outdoor patio ○ Located in the Naperville RESTAURANT | 909 EAST OGDEN AVENUE | NAPERVILLE, IL SVN | Chicago Commercial RONALD WEISSENHOFER ronald.weissenhofer@svn.com 630.712.2573 $670
- 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/SF SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $3,100,000 $62,000 38,800 SF ○ 5,000 SF office/33,800 manufacturing space on +/- 2.63 acres ○ 19'9" clear height sloping to 13' eaves ○ 2 dock high doors with levelers ○ 2 grade level drive in doors ○ Heavy power (4,000 amps) INDUSTRIAL | 2029 BUCK LANE | LEXINGTON, KY SVN | Stone Commercial Real Estate JOHN BUNCH, SIOR john.bunch@svn.com 859.433.8911 GABE MEASNER gabe.measner@svn.com 859.630.7106 $80
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $3,499,000 $69,980 25,000 SF ○ Downtown Binghamton on Washington Street, brick student housing complex provides 25,000 sq ft. ○ Easily accessible to nearby shops and the new parking ramp ○ Offering 22 residential units ○ This building also offers three commercial spaces ○ Building is at full capacity with all units leased ○ Well managed and well maintained, each residential unit features modern updates MULTIFAMILY | 137-141 WASHINGTON STREET | BINGHAMTON, NY $139 SVN | Innovative Commercial Advisors SCOTT WARREN scott.warren@svn.com 607.621.0439 7.36%
- 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 Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $3,999,000 $79,980 33,186 SF ○ Downtown Binghamton opportunity to capitalize on the student housing market, (33,186 sq ft). ○ Features 34 student beds, fully leased ○ Well maintained units are updated with modern design ○ Offering 3 commercial units with an average traffic count of 9,098 ○ This property presents an opportunity for businesses seeking high visibility ○ Walking distance to downtown shops and restaurants MULTIFAMILY | 58 COURT ST | BINGHAMTON, NY $121 SVN | Innovative Commercial Advisors SCOTT WARREN scott.warren@svn.com 607.621.0439 7.24%
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $3,700,000 $111,000 6,306 SF ○ Perfect owner-user opportunity ○ Turnkey cosmetic surgeon office ○ Class A office environment ○ Existing income in place with adjacent tenant ○ Located in top 5 master planned community in the USA OFFICE | 1725 VILLAGE CENTER CIRLCE | LAS VEGAS, NV SVN | The Equity Group NOLAN JULSETH-WHITE, CCIM nolan.jwhite@svn.com 702.527.7562 ZECHARIAH LEVI zech.levi@svn.com 702.527.6280 ERIC ROGOSCH eric.rogosch@svn.com 702.527.5313 $587
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $4,139,130 $82,783 2,858 SF ○ Newly constructed 15- year leased NNN investment ○ Located within a rapidly growing and expanding major retail hub in San Antonio, TX ○ The property is designed and built-to-suit for Bojangles ○ The drive-thru facility includes a 2,858 square foot building on 0.913 acre parcel ○ Now open, doing above average sales RETAIL | 8730 POTRANCO RD | SAN ANTONIO, TX SVN | J. Beard Real Estate - Greater Houston JACKSON CAIN jackson.cain@svn.com 281.367.2220x112 $1,448 5.75%
- 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 Cap SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $4,525,000 $113,125 12,100 SF ○ Prime Polk at Union Street location ○ Large units with rental upside ○ Golden Gate Bridge views from the roof and some units ○ Large basement with ADA potential MULTIFAMILY | 2345 POLK STREET | SAN FRANCISCO, CA SVN | Pacific Commercial Advisors KEVIN CHIN, CCIM kevinc@svn.com 415.922.2900x101 $374 4%
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $10,500,000 $210,000 31,250 SF ○ Rarely available 31,250 SF brick and timber loft office building fronting Mary Bartleme Park ○ 80% occupied ○ Up to 6,250 SF can be made available to accommodate new user(s) or tenants ○ Surrounded by numerous ground-up, high- density developments in the immediate vicinity ○ 14 deeded car parking included with sale located within 3 blocks of the property ○ Property is “Broker-Owned” OFFICE | 112 S SANGAMON ST | CHICAGO, IL SVN | Chicago Commercial SCOTT MAESEL scott.maesel@svn.com 312.676.1860 CHAD SCROEDL chad.schroedl@svn.com 312.756.7329 $336
- 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 SFR PORTFOLIO | 6 HOME SFR INVESTMENT PORTFOLIO | PHOENIX, AZ $11,000,000 $275,000 96.2 acres ○ 96.2 total acres - excluding wetlands, buffers and borrow pit, 66.37 net acres ○ PUD in process for 468 MF units and approximately 8 acres of commercial frontage ○ Located in SE Volusia County, just north of Kennedy Space Center and the Space Coast ○ One hour to the Orlando attractions and International Airport LAND | 3338 WEST INDIAN RIVER BLVD. | EDGEWATER, FL SVN | Alliance Commercial Real Estate Advisors KIMBERLY HARDEE kimberly.hardee@svn.com 386.314.6984 BARBARA COOMBER barbara.coomber@svn.com 813.220.7222 $114,345
- 29. www.SVN.com Events & Webinars THURSDAY AUGUST 24 Office Product Council Meeting 1:00 PM ET | 10:00 AM PT Date: August 21-26, 2023
- 30. THANK YOU for joining us!
- 31. 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.