SVN Live 8.5.24 Weekly Property Broadcast

SVNIC 186 views 23 slides Aug 04, 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 mid-year report from Capital Economics forecasts that transaction activity is likely to bottom out over the summer months — but that valuations may have more declines to undergo before similarly inflecting. The report’s analyst suggests that valuations would need to fall an additional 12% from Q1 levels to properly reflect the impact of higher interest rates. This will show up through rising cap rates, which they expect to climb another 80 bps before reaching a cyclical peak at the start of next year. Office yields are expected to see the largest rises to close 2024, while industrial and apartments are expected to lead the way after, though the latter two sectors are projected to be first and second in rent growth between 2024-2028, respectively. Mid-Year Commercial Property Outlook

$13,720,000 280 units $49,000 7th Multifamily closing with SVN Chicago & SVN Montgomery (JJ Mottram) collaborating Complex transaction with a mix of market rate and LIHTC affordable assets 6 months contract to close on 396 unit portfolio Navigated an international buyer with local affordable bureaucracy MULTIFAMILY | 4440 & 4616 VIRGINIA LOOP RD | MONTGOMERY, AL SVN | CHICAGO COMMERCIAL Reid Bennett, CCIM reid.bennett @svn.com 773.251.7342 Cody Doran cody.doran @svn.com 309.235.0995 4.51% SVN | JJMOTTRAM John Mottram john.mottram @svn.com 334.201.5002

$6,800,000 60,000 SF $113 Tenant pays own utilities Small office Private restroom Easy access to 1-75 and Turnpike INDUSTRIAL | 3384 NE 34TH AVE | WILDWOOD, FL SVN | SAUNDERS RALSTON DANTZLER Ali Manekia, CCIM, SIOR ali.manekia @svn.com 516.655.8700 Ryan Smith ryansmith @svn.com 407.616.3301

$4,150,000 10 units $415,000 10 unique upscale Pacific Northwest-themed cabins with a main lodge featuring a kitchen, breakfast area, office, and owner’s suite Located in charming Carson, WA, less than an hour from Portland/Vancouver in the Columbia River Gorge The seller was unsatisfied with the performance of a previous listing agent The buyer, using funds from a 1031 Exchange, closed quickly in 39 days, all cash HOSPITALITY | 1261 WIND RIVER HWY | CARSON, WA SVN | BLUESTONE Brian Resendez, CCIM brian.resendez @svn.com 503.577.7710 Joseph Aiston [email protected] 971.282.2031

$1,450,000 4,624 SF $314 Located within a professional and medical office park Less than 3/4 miles from City Center West Orange in Ocoee, FL Access to Fl Turnpike (1.1 ± miles) Access to 429 Expressway (1.5 ± miles) Easy access to W. Colonial Dr. Multiple retailers and restaurants nearby 20 parking spaces that include 3 covered spaces OFFICE | 2716 REW CIR | OCOEE, FL SVN | SAUNDERS RALSTON DANTZLER Rafael Mendez, CCIM rafael.mendez @svn.com 407.748.8970 Bill Nguyen bill.nguyen @svn.com 407.304.0553

$1,100,000 23,200 SF $47 Value-add opportunity Cash deal MULTIFAMILY | 6-10 S MASON AVENUE | CHICAGO, IL SVN | CHICAGO COMMERCIAL Joseph Connelly joseph.connelly @svn.com 312.414.0428

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LAND | 3690 EAGLE CREEK BLVD | SHAKOPEE, MN $8,995,000 $179,900 15 acres ±15 acres of prime development land in one of the Twin Cities metropolitan area's hottest submarkets, Shakopee This Property is well-situated for a residential, retail, or mixed use development Located amidst over 3,500 residential units under development within 2 mi of the property Near popular local attractions Nestled between bustling HWY 169 (10,542 VPD) & Eagle Creek Blvd (9,700 VPD) $599,667 7.25% SVN | NORTHCO Edward Rupp edward.rupp @svn.com 952.820.1634 Mark Battles mark.battles @svn.com 952.820.1633 Spencer McMillan spencer.mcmillan @svn.com 952.820.1631

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 7.25% SVN | NORTHCO Frank Jermusek frank.jermusek @svn.com 952.820.1615 Edward Rupp [email protected] 952.820.1634 Emilia Molle emilia.molle @svn.com 952.820.1618 Mark Battles [email protected] 952.820.1633

OFFICE | 7 MEDICAL OFFICE CONDOS | PHOENIX, AZ | TUCSON, AZ $4,585,000 $137,550 13,310 SF ST NNN investment opportunity 7 property portfolio available together or separate Brand new 5 year lease with 3% annual increases Strong tenants In operation since 2007 Well located offices throughout Phoenix and Tucson Markets $344 7.25% SVN | DESERT COMMERCIAL ADVISORS Justin Horwitz, SIOR [email protected] 480.425.5518 Richard Lewis Jr. [email protected] 480.425.5536 Aaron Gutierrez [email protected] 480.425.5517 Sean Alderman [email protected] 480.425.5520

MULTIFAMILY | 1910 STRAND | MISSOULA, MT $3,999,000 $79,980 14,741 SF Brand New 13 plex (8 2-bed/1-bath & 5 1-bed/1-bath) Fully leased, Gross rents approx: $275,000 NOI approx $205,000 Garages, interior corridors and storage, low exterior maintenance Close to Univ. of Montana, centrally located in Missoula Tremendous statewide growth, accelerated dramatically through Covid $271 5.13% Devin Khoury [email protected] 406.207.8200 SVN | PUREWEST

LAND | 10200 PLUM DRIVE | URBANDALE, IA $3,925,000 $117,750 11.928 acres 1, 3, & 5 mi demos are all over $100K HH Income Located within a Tax-Increment Financing (TIF) District Visibility to over 100,000 drivers at the highly-traveled "Rider Corner" where I-80/35 meets the new Hwy-141 overpass Ideal for big box retail, grocery, medical development, or corporate office users $329,058 5.29% Nora Walsh nora.walsh @svn.com 515.259.1041 Heath Bullock [email protected] 515.554.7412 SVN | CREATE

LAND | I-65 & SR 28 | FRANKFORT, IN $2,941,500 $88,245 37 acres Versatile B5 zoning allows for a variety of Commercial and Industrial uses All utilities at the site Preliminary site plan includes off site water storage Located halfway between the Purdue Research Park and Lebanon's Leap District $79,500 7.58% Jeff Hines [email protected] 317.709.6000 SVN | NORTHERN COMMERCIAL

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 5.29% Kelly Fitzgerald kelly.fitzgerald @svn.com 615.714.6378 SVN | SECOND STORY REAL ESTATE MANAGEMENT

INDUSTRIAL | 541 S OLD PIEDMONT HWY | GREENVILLE, SC $1,350,000 $40,500 4.5 acres $1,350,000 ($300k/ac OBO) Redevelopment [+-]5ac, Zoned I-1 I85. I185, White Horse Rd, Piedmont Hwy Connections Manufacturing, Warehousing, Storage, Logistics Applications Upstate, Greenville SC MSA $300,000 7.25% SVN | BLACKSTREAM Matthew Nocella matthew.nocella @svn.com 864.640.9580

LAND | 12801 WILLIAMS RD | PORT ST. LUCIE, FL Call for Offers .75% ±256 acres ±256 acres in Port St. Lucie in the midst of major developments and amenities. The in-place Annexation and Development Agreement provides the potential for the area's newest Master Plan community The Agreements permit 1,358 residential units, 154,20 2SF of commercial, and 161,912 SF of office/institutional facilities Located in close proximity to major commercial amenities and highways $79,500 7.58% Brandon Bollig brandon.bollig @svn.com 847.410.9047 Ashley Bloom [email protected] 941.366.1136 Scott Maesel [email protected] 773.251.1166 SVN | COMMERCIAL PARTNERS

August 5-10, 2024 WEDNESDAY AUGUST 7 HOSPITALITY MANAGEMENT PRODUCT COUNCIL MEETING 3:00 P M EST | 12:00 AM PT