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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
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.