SVN Live 8.12.24 Weekly Property Broadcast

SVNIC 132 views 27 slides Aug 11, 2024
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About This Presentation

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.


Slide Content

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A recent GlobeSt article investigates the impact of the CHIPS and Science Acts on commercial estate markets, as the 2022 laws introduced $52.7 in new spending, including both funding and incentives, for R&D and manufacturing in key science and tech sectors. The Texas market of Sherman-Denison was a key recipient of new federal funds with new semiconductor plants built by players like Texas Instruments and GlobiTech. The medium-term impact on the market includes the addition of up to 5,000 new jobs, bringing new residents and housing needs. The region is currently home to just 6,800 apartment units, reflecting the need for developers to fill the impending shortage. Economists largely expect the laws to incentivize companies to increase manufacturing in the US and will benefit regions with strong labor force dynamics, available skills, and a diverse supplier base—thereby increasing demand in local real estate sectors. Chip and Science Acts Spur CRE Demand

$ 2,549,500 10 acres $ 254,950 Current Zoning: Residential (RMF-1) Taxes: $6,434.99 (2021) Traffic count: 20,500 cars/day on Laurel Rd LAND | 0 CURRY LANE | NOKOMIS, FL SVN | SAUNDERS RALSTON DANTZLER Eric Ammon , CCIM [email protected] 863.602.1001 Craig Morby [email protected] 863.581.0059

$ 1,400,000 16,984 SF $82 Built in 1990, renovated in 2020 Zoned Commercial on front lot/Residential on rear lot; church is currently approved as a non-conforming use Ideal for congregations, events, and gatherings Ample space for community engagement Tailored to meet unique church needs OTHER | 3900 LAKE BLUE DRIVE | WINTER HAVEN, FL SVN | SAUNDERS RALSTON DANTZLER Stephen Batman [email protected] 863.608.1618 Augie Schmidt, SIOR [email protected] 863.409.2400

$1,159,000 6,800 SF $170 Seller and purchaser are clients. Seller bought the land and was building a property for themselves, then decided not to Purchaser had been looking in the area with me about 7 months and was about to put the project on hold Seller called me and said list it so I started the marketing and asked my purchaser if they would consider; it went under contract before I could formally launch it INDUSTRIAL | 1700 NORTHGATE DRIVE | RICHMOND, KY SVN | STONE COMMERCIAL REAL ESTATE Neal Metcalfe neal.metcalfe @svn.com 859.312.8069

$749,100+ $30,890,500+

LAND | 115 E PACIFIC AVE &112 E 1ST AVE | SPOKANE, WA $6,700,000 $167,500 42,098 SF NNN leased investment property available for sale or joint venture Rare opportunity to own an entire city block in Spokane's University District Potential 2 acre redevelopment site with very flexible GC-150 zoning Excellent location in an opportunity zone with close proximity to Downtown Spokane Current tenants are Healing Room Ministries and On Fire Ministries 104 striped parking spaces $159 SVN | CORNERSTONE Jordan Lester jordan.lester @svn.com 509.496.6922 Andrew Keef andrew.keef @svn.com 509.628.6678 5.31%

INDUSTRIAL | 1780 & 1790 INDUSTRIAL BLVD | LAKE HAVASU CITY, AZ $ 6,254,552 $125,091 32,262 SF Single or multi-tenant industrial property Each lot has its own entrance to Industrial Blvd and 1790 has access to Bahama Ave Two buildings on 1790 Indust. Blvd consist of 32,262 SF Front building is 10,000 SF with 1,200 SF office Back building 22,262 SF with 1 loading dock, 5 offices, and studio apartment 1780 Indust. Blvd is lighted, fenced & improved Purchase together or separately $194 SVN | CORNERSTONE Guy Byrd [email protected] 509.953.5109 5.31% SVN | DESERT COMMERCIAL ADVISORS Perry Laufenberg [email protected] 480.425.5510

LAND | 649 CALEAST RD | RICHMOND, KY $5,350,000 $160,500 152 acres Less than 1 mile to Exit 83 - I-75 Thousands of feet of Interstate road frontage Commercial or residential development possibilities Located in an opportunity zone 2 miles to regional airport, Richmond Industrial Park 4 miles south of Richmond, 6 miles north of Berea, under 30 miles to Lexington $35,197 7.58% SVN | STONE COMMERCIAL REAL ESTATE Neal Metcalfe [email protected] 859.312.8069

OFFICE | 4730 STATE ROAD 64 | BRADENTON, FL $5,250,000 $131,250 +/- 27,290 SF Beautiful, well-maintained NNN office investment Very low vacancy rates in the area Below market rents and CAM, allow value-add opportunity High traffic, high visibility area Close to I-75 and Lakewood Ranch Great tenant mix high value income Large Pylon signage on SR 64 +/-$192 SVN | COMMERCIAL ADVISORY GROUP Tony Veldkamp, CCIM tony.veldkamp @svn.com 941.487.6990 Matt Fenske matt.fenske @svn.com 941.487.3794 6.8%

OTHER | 645 SOUTH US HIGHWAY 17 | SAN MATEO, FL $3,500,000 $105,000 20 acres Family retreat on the St John's River 9 bedrooms Main house and two attached cottages $175,000 SVN | SAUNDERS RALSTON DANTZLER Todd Dantzler todd.dantzler @svn.com 863.287.3586 7.5%

MULTIFAMILY | 1911, 1913, & 1919 W CHICAGO AVENUE | CHICAGO, IL $2,887,000 $57,740 8 units Excellent West Town location Stabilized asset with a strong tenant mix, room for rent growth and upside through further development Located within the Chicago Avenue T.O.D boundaries Fully occupied This property is owned by an Illinois Real estate broker $360,875 SVN | CHICAGO COMMERCIAL Drew Dillon drew.dillon @svn.com 734.223.2315 Scott Maesel scott.maesel @svn.com 312.676.1860 Chad Schroedl chad.schroedl @svn.com 619.818.3480

RETAIL | 1934 W CHICAGO AVENUE | CHICAGO, IL $1,650,000 $33,000 4,650 SF Excellent West Town corner location Stabilized asset with a strong tenant mix Highly desirable brick building Fully rehabbed armchair investment Located within the Chicago Avenue T.O.D boundaries Broker owned $355 SVN | CHICAGO COMMERCIAL Drew Dillon drew.dillon @svn.com 734.223.2315 Scott Maesel scott.maesel @svn.com 312.676.1860 5.31%

GOLF & RESORTS | 8450 VERMILLION DRIVE | COOK, MN $2,795,000 $41,925 88 acres 5 spacious, charming cabins (sleeps 26) and 9 additional buildings, including an 845 sq ft lodge with a 200 sq ft lakeside porch ±3,000 feet of Lake Vermilion shoreline 4 hours from the Twin Cities and 2 hours from Duluth, MN, on 88 acres with rustic walking trails Popular vacation spot with world-class fishing and numerous activities including a sauna, biking/jogging paths and more $31,761 SVN | NORTHCO Frank Jermusek frank.jermusek @svn.com 952.820.1615 Edward Rupp edward.rupp @svn.com 952.820.1634 Emilia Molle [email protected] 952.820.1618 Mark Battles [email protected] 952.820.1633 5.31%

OFFICE | 955 MOUNT HERMON RD | SALISBURY, MD $2,500,000 $75,000 9,224 SF Class A office Fully leased to International CPA firm NOI - $207, 483 Lease expires 1/31/29 with a 5 year option The landlord has put a request in to the tenant to exercise the option early extending the lease to 1/31/34 $271 SVN | MILLER COMMERCIAL REAL ESTATE Chris Messick chris.messick @svn.com 443.523.9228 John McClellan, SIOR, CCIM john.mcclellan @svn.com 410.430.9964 8.30%

RETAIL | 212 MARKET ST | CHATTANOOGA, TN $2,300,000 $63,250 5,904 SF Zoned D-SH-6 Current parking on site generating revenue Existing building is 5,900 SF of former restaurant space Ample parking in surrounding lots and garages Major downtown events include Ironman, Wine Over Water, Three Sisters Bluegrass Festival Located in the heart of Chattanooga's downtown that includes $1.6B of annual tourism $390 SVN | SECOND STORY REAL ESTATE MANAGEMENT Kelly Fitzgerald kelly.fitzgerald @svn.com 615.714.6378 4.02%

OFFICE | 600 VILLAGE TRACE NE | MARIETTA, GA $1,995,000 $42,000 13,556 SF Three-story stand alone Close to retail shopping Surface parking 95% leased Average daily traffic count +/-42,800 Below market rents $147 SVN | CREVISTON REALTY INC. Colin Crowe colin.crowe @svn.com 678.628.9128 Del Creviston [email protected] 678.230.8541 4.02%

INDUSTRIAL | 411 UNION ST | GENEVA, IL $1,950,000 $58,500 37,000 SF Leased to Olon Industries through 7/31/26 with (2) 1-year options Sticky tenant has been in place since '07 NNN lease with minimal landlord responsibilities $53 SVN | LANDMARK COMMERCIAL REAL ESTATE Brian Lindgren brian.lindgren @svn.com 630.487.9433 7.24%

LAND | MAKENA DRIVE TRACT 2 | SOMERSET, KY $ 1,500,000 $45,000 1.25 acres Rare 1.25 acres with S HWY 27 frontage Multiple points of ingress & egress 29,335 VPD All utilities to site Off-site retention High visibility for retail development $360,875 SVN | STONE COMMERCIAL REAL ESTATE Nathan Dilly [email protected] 859.420.5492 Weston Lockhart [email protected] 859.317.3538

OFFICE | 205 N WILLIAMSBURG DRIVE | BLOOMINGTON, IL $1,150,000 $28,750 11,311 SF Great location - just 1 block east of Veterans Parkway Fully leased, turnkey property Increasing NOI with annual rent increases Bloomington is home to major employers like Rivian Automotive, State Farm, Illinois State University, Ferrero Chocolate, and many more $102 SVN | CORE 3 Carrie Tinucci-Troll carrie.troll @svn.com 309.590.7900 Demi Powell demi.powell @svn.com 309.590.7900 7.5%

LAND | 901-1001 S OCEAN DR | FORT PIERCE, FL Call for the Offers 1.5% 6.88 acres Entitled land! Site plan approved for 52 luxury townhomes State-of-the-art clubhouse and amenities Zoned PD (Planned Development) Strategic location on the highly coveted South Hutchison Island in Fort Pierce Direct beach access just steps from the entrance $147 SVN | COMMERCIAL PARTNERS Brandon Bollig brandon.bollig @svn.com 847.410.9047 Ashley Bloom ashley.bloom @svn.com 941.961.7109 Scott Maesel [email protected] 773.251.1166 4.02%

August 12-17, 2024 WEDNESDAY AUGUST 14 OFFICE PRODUCT COUNCIL MEETING 2:00 P M EST | 11:00 AM PT THURSDAY AUGUST 15 INDUSTRIAL PRODUCT COUNCIL MEETING 1:00 P M EST | 10:00 AM PT