Download - SVN Live 4-3-2017 Weekly Property Broadcast
© 2017 SVN International Corp.
WEEKLY PROPERTY BROADCAST
APRIL 3, 2017
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ECONOMIC TALKING POINTS
Recent Real Capital Analytics report shows minor cap rate increase following interest rate moves
• RCA reports cap rate increases of 20-30 bps in 4th quarter; annual volume decline of 11%, and annual price growth of 9%.
• Overall, 2016 was a very healthy year for all commercial real estate with the apartment sector seeing the most growth in deal volume; the 4th quarter shows a pause in some activity as investors and lenders were caught by surprise by the election result and resultant increase in rates; this may level out in the first quarter of ’17.
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© 2017 SVN International Corp.
• Trepp reports that the national CMBS delinquency rate fell 5 basis points to 5.18% in January; prior to this, the rate had moved up in 9 of the last 10 months.
• Overall, the very modest gains represent a clearance of default from legacy loans that had reached maturity; this should continue in 2017 assuming lending markets remain open.
CMBS delinquencies improve in January ’17, reversing multi-month trend
ECONOMIC TALKING POINTS
© 2017 SVN International Corp.
RECENTLY CLOSED DEALS
Sale Price $
Size
$/SF $
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | David Cook Co., LLC
DAVID [email protected]
972.389.5600
39.40
1,050,000
26,650 SF
• Sold to a user
• Buyer will occupy 40%
• Sold for 95.5% of asking price
INDUSTRIAL | 11720 CHAIRMAN | DALLAS, TX
Sale Price $
Size
$/Acre $
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Lord Partners
PAUL [email protected]
314.862.5566
13,298
1,250,000
94 Acres
• Owner was frustrated- fired second national CRE Firm then hired Paul Mann of SVN | Lord Partners in St. Louis
• Action plan:• Extensively counseled all client decision makers re market forces
and pricing • Secured government initiatives resolved floodplain issues• Subdivided larger parcel to carve out sites for restaurant and
assisted living
• 3 sales totaling over $2,000,000; 3 double ended commissions; higher net for client
LAND | 121 SOUTH BLUFF ROAD | METRO ST. LOUIS, IL
KURT [email protected]
314.862.5566
Sale Price $
Size
$/Acre $
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
880,282
1,250,000
1.42 Acres
• St. Andrews Bay front development parcel
• 1.42+/- acres
• 160’ of bay frontage on St. Andrews Bay
• Downtown district in City of Panama City
• Located at the Gateway to the Panama City Marina
LAND | 113 BEACH DRIVE | PANAMA CITY, FL
SVN | SouthLandCommercial
KEVIN WATTENBARGER
850.913.9133
Sale Price $
Size
$/SF $
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | SouthLandCommercial
KEVIN WATTENBARGER
850.913.9133
80.42
1,900,000
23,625 SF
• Off market transaction
• Former freestanding Office Max
• 2.1 acre out-parcel to Target
• Main Location: East 23rd and Highway 77 across from Panama City Mall
RETAIL | 731 EAST 23RD STREET | PANAMA CITY, FL
Sale Price $
Size
$/Acre $
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
681,395
1,465,000
2.15 Acres
• 35 unit affordable housing development site
• Former pre-school site
• Two and a half year contract
• Closed via friendly foreclosure
• Broker commission based on foreclosure value
MULTIFAMILY | 1787 GRANT AVENUE | NOVATO, CA
SVN | Delta Group Realty, Inc.
JOHN WILLIAMSBRE #0777607
415.897.4422
Sale Price $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Denver Commercial
KEVIN [email protected]
303.974.5893
105.09
7.15%
1,625,000
15,463 SF
• 68% occupied retail center
• All cash deal - 40 day close
• Sold at 96% of list price
• Had to amend several leases quickly to get the deal done
• The team worked on this property for seven years
RETAIL | 709 & 727 WEST RAY ROAD | GILBERT, AZTROY [email protected]
303.974.5737
RYAN [email protected]
480.425.5500
SVN | Desert Commercial Advisors
Sale Price $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Desert Commercial Advisors
CARRICK [email protected]
480.425.5529
65.32
8%
2,244,000
34,356 SF
• 65 Units
• $34,523/ unit
• Co-operation resulted in highest offer coming in from another broker
• Achieved top of market price for seller
MULTIFAMILY | 3665 NORTH 1ST AVENUE | TUCSON, AZ
CHIP [email protected]
480.425.5517
Sale Price $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Desert Commercial Advisors
DANNY [email protected]
480.425.5522
115.22
4.5%
2,850,000
24,736 SF
• Good location in northeast Mesa with great frontage
• All 2 bedroom/ 2 bath units with W/D hookups
• Well maintained property showed pride of ownership
• Historically high occupancy with rent upside
• Separately metered for electricity and water
• Sold under 4.5% cap rate
• Local cash buyer
• Contract to close in 30 days
MULTIFAMILY | 2850 E. BASELINE ROAD | MESA, AZ
© 2017 SVN International Corp.
FEATURED INVENTORY
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© 2017 SVN International Corp.
FEATURED INVENTORY$42,341,500
BUY-SIDE COMMISSION$906,305
FEATURED INVENTORY FINANCIAL SUMMARY
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | David Cook Co., LLC
DAVID [email protected]
972.387.5600
23,925 SF
71.06
1,700,000
42,500
7.3%
INDUSTRIAL | 1467 LEMAY | CARROLLTON, TX
• Multi tenant flex industrial
• 100% leased to three tenants
• 15,000 SF possible for user
• Great location
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Trinity Advisors
STEVE [email protected]
817.288.5524
40,288 SF
44.55
1,795,000
53,850
1.1%
• Great access to newly widened Airport Freeway (Highway 183/121)
• “Value Add” opportunity; existing occupancy of 43.8% vs. market occupancy of 90%
• Dynamic Dallas/ Fort Worth market with robust employment growth and consistent strong population increases
• Attractive pricing significantly below replacement cost
• Proforma cap rate of 17.1% after stabilized market occupancy
OFFICE | 1550 NORWOOD DRIVE | HURST, TX
CLINT [email protected]
817.288.5544
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Trinity Advisors
STEVE [email protected]
817.288.5524
37,171 SF
74.18
2,757,500
82,725
6.71%
• Located in Dallas/ Fort Worth and Houston, two of the most dynamic economies in the US
• Opportunity to purchase a portfolio of 26 properties in competitive markets where it is difficult to purchase individual homes
• Recent capital improvements: $49,000 in 2016; over $100,000 in 2017 for seven homes being renovated and made ready for rent/sale in 4-6 weeks
• Proven upside in rents and ultimate value of homes after renovations to remaining homes with long term tenants at low rents
• Multiple exit strategies in future
MULTIFAMILY | SINGLE FAMILY HOMES PORTFOLIO | TEXAS
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Denver Commercial
TROY [email protected]
303.974.5737
3,750 SF
517.33
1,940,000
38,000
6%
RETAIL | 373 & 389 E. FILMORE STREET | COLORADO SPRINGS, CO
• 100% occupied Jimmy John’s and T-Mobile
• Long term NNN leases with annual increases
• T-Mobile has 10% rent increase in year 4
• Located in the Colorado Springs central submarket, just north of downtown
• Over 30,000 vehicles per day
• More than 250,000 residents within five miles
KEVIN [email protected]
303.974.5893
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Denver Commercial
TROY MEYER
303.974.5737
32,885 SF
174.85
5,750,000
143,750
7.37%
RETAIL | 21476-21596 N. JOHN WAYNE PARKWAY | MARICOPA, AZ
• 94% occupied Class A shopping center anchored by Ace Hardware with excellent store sales
• Initial return on equity - 11.84%
• Fantastic access and visibility from the busiest thoroughfare in Maricopa
• Diverse and stable tenant mix
• No barriers to new financing
KEVIN MATTHEWS
303.974.5893
RYAN MOJAHED
480.425.5500
SVN | Desert Commercial Advisors
SVN | Rich Investment Real Estate Partners
TRAVIS ALBEE
818.227.8000
Price $
Buy Side Fee $
Size
$ /Unit $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Pacific Commercial Advisors
KEVIN CHIN, CCIM
BRE #00696127
415.922.2900
56 Units
80,358
4,500,000
112,500
6.3%
• 20% below market rents
• Average tenancy 6.5 years
• Central heat and air
• Individual hot water/ gas
• Trust sale - court confirmation required
WALTER HELMBRE #00831747
916.920.4432
MULTIFAMILY | 10430 COLOMA ROAD | RANCHO CORDOVA, CA
Price $
Buy Side Fee $
Size
$ /Unit $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
MULTIFAMILY | 7474 LA MANCHA WAY | SACRAMENTO, CA
SVN | Pacific Commercial Advisors
KEVIN CHIN, CCIM
BRE #00696127
415.922.2900
94 Units
95,745
9,000,000
225,000
6.2%
• Below market rents
• Gated community
• Washer/dryer hookups in all units
• Fitness Center and Spa
• Trust sale- court confirmation required
WALTER HELMBRE #00831747
916.920.4432
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Commercial Real Estate Advisors
SPENCER [email protected]
704.892.5653
70,756 SF
83.37
5,899,000
117,980
8%
RETAIL | 2471 SPRINGS ROAD | HICKORY, NC
• Galaxy Foods anchor along with many other national tenants including Dollar Tree, Subway, Nationwide, H&R Block and Boost Mobile
• Extremely strong grocer for this area with yearly sales in the $9,000,000 range and expecting to increase
• High traffic counts
• Close proximity to Charlotte
• Strong outparcels; i.e. McDonald’s, Taco Bell, Burger King
704.892.5653
FRANK [email protected]
704.892.5653
Price $
Buy Side Fee $
Size
$ /SF $
Cap
*For qualified transactions, 50% of the gross commission to the buy side.
50% OF THE COMMISSION | 100% OF THE T IME* | THE SVN DIFFERENCE
PROPERTY HIGHLIGHTSPROPERTY DETAILS
© 2017 SVN International Corp.
SVN | Hotels
SANJAY [email protected]
972.387.5600
55,448 SF
162.31
9,000,000
90,000
8.3%
HOSPITALITY | 8710 RESEARCH DRIVE | CHARLOTTE, NC
• 96 room extended stay hotel
• Conveniently located off I-85 (Exit 45B)
• Located in the heart of Charlotte Research Park
• Minutes from University of North Carolina at Charlotte
• The Shoppes at University Place across I-85
BRYAN [email protected]
919.913.1437
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© 2017 SVN International Corp.
SVN @ INDUSTRY TRADESHOWS
2017 SIOR Spring World Conference
April 26-29, 2017 | New Orleans, LA
Be sure to stop by and visit us at the SVN Booth (booth #22) at one of SIOR’s most important
events of the year!
RECon 2017
May 21-24, 2017 | Las Vegas, NV
SVN will be at 2017 RECon!Visit us at Booth #C162F.
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© 2017 SVN International Corp.
APRIL 3 – APRIL 8, 2017
EVENTS & WEBINARS
Monday, April 3rd
HOSPITALITY Council Meeting11:00 am PT / 2:00 pm ET
Tuesday, April 4th
LEASING Council Meeting8:30 am PT / 11:30 am ET
Thursday, April 6th
RETAIL Council Meeting10:00 am PT / 1:00 pm ET
Saturday, April 8th
JOHN MCDERMOTT’S SATURDAY Call8:30 am PT / 11:30 am ET
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© 2017 SVN International Corp.
THANK YOU FORJOINING US!
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.