sperry van ness #cre monday national sales meeting september 17, 2012
DESCRIPTION
The Sperry Van Ness® organization shares a portion of their new weekly listings via their national sales call. Email [email protected] if you would like to attend our weekly call which we open up to the brokerage community. All Sperry Van Ness® Offices are Independently Owned and OperatedTRANSCRIPT
Monday National Monday National Sales MeetingSales Meeting
September 17, 2012September 17, 2012
This Week’s Upcoming This Week’s Upcoming Calls and TrainingsCalls and Trainings
Tuesday, September 18thNational Self Storage Call (8:30am PST / 11:30am EST)
Thursday, September 20thNational Industrial Team Call (11:00am PST / 2:00pm EST)
Featured ClosingsFeatured Closings
Bank-Owned Daycare Facility | Plainfield, IL
Just Closed!
$800,000Transaction Highlights:•Represented Both Buyer And Seller•Bank REO - 3rd Sale With This Lender•First Contract fell apart after 8 months•2nd Contract closed at higher price •Procured National Day Care Tenant paired with investor/Buyer•Existing Day Care Operator retained until closing
Wayne [email protected], IL
Dan [email protected], IL
The Corvallis Clinic | Albany, OR
Just Closed!
$2,850,000Transaction Highlights:•Single Tenant Medical Office•6 years remaining on primary term•7.6% CAP Rate•Buyer had to assume an above-market interest rate loan that matures in 2014
Ryan [email protected], OR
Verizon Wireless | Warner Robbins, GA
Just Closed!
$2,915,000Transaction Highlights:•NNN leased deal•Major mall outparcel•All Cash Deal – 9.3% CAP•Retired BUYER looking for CASH FLOW
Barbara [email protected] Diego, CA
13 E. Read Street | Baltimore, MD
Just Closed!
$880,000Transaction Highlights:•List to Close 4 weeks •Bank REO •Cash deal, no financing •9 Full Renovated Units
Tony Casalena, [email protected], MD
Justin [email protected], MD
Bahama Bay II Condominium | Orlando, FL
Just Closed!
$8,000,000Transaction Highlights:•Broken Condo Project
•134 units and 234 additional pad
ready lots sold to Buyer
•Developer failed to complete
project, Partially built, Vacant for
5 years
•174 total units built in complex
•Took nearly 11 months from first
meeting to close
•Buyer intends to complete
project, rent and sell the
remaining units
Miguel de [email protected] Mary, FL
US Border Patrol Office | Cotulla, TX
Just Closed!
$4,300,000Transaction Highlights:
•SVN handled both Buy & Sell Side of this GSA Transaction
•Purchaser: Private Chicago Based Bond Structured Fund
•Overcame Short Term Lease with Lease Expiration Fears
Bruce [email protected], TX
Tim Strange & Mark Phillips & Jim Hancock405-605-6528 & 480-837-6028 & [email protected] & [email protected] City | Phoenix | Dallas
Bayside Farm | Snow Hill, MD Just Closed!
$1,000,000Transaction Highlights:•Farm is 250 Acres - 125 acres tillable farm
land - 125 managed in timberland
•Additionally conveyed 250 acres on a 5 year
lease for additional tillable acres on adjacent
farms
•Development Rights on the farm were sold
recently by Ben Alder and Conservation
Lands, Inc. - Value = $1.2M
•One Development Right and 8 acre Working
Farm Operation area allows for construction of
residence and farm buildings
•Young farmer attained financing through PNC
Bank - Agricultural Investments BranchBen [email protected], MD
Brent [email protected], MD
Days Inn | Southington, CT
Just Closed!
$2,425,000Transaction Highlights:•70 Rooms/Interior Corridors•REO Property•List to close 19 months
•Deal Sequence: Advised Lender 18 months prior to listing BOV Start Foreclosure BK Complete Foreclosure - Renovate, Reflag, Professional Management, Reposition Sell•SBA financedTom Hamm
Office Complex | Reno, NV
Just Closed!
$375,000Transaction Highlights:•Sold and Managed for US Bank•12,454 SF – Two Story Office Building, built 1981•Operated as executive suites•Buyer to Rehab, change use•Sold to Local Buyer
Tony [email protected] Diego, CA
Joel [email protected] City, NV
Jack Brower, [email protected] City, NV
Dollar Tree | El Centro, CA
Just Closed!
$1,830,000Transaction Highlights:•Bank Owned Retail Center•Sold at 8.2% Cap on Existing Income•Leased all vacancy in center to Spirit Halloween during escrow •Buyers agent not to be found until commission instructions•Buyer obtained financing from Wells Fargo at 4.25%Tony Yousif
[email protected] Diego, CA
Travis [email protected] Centro, CA
115 Acres of Raw Land | Lincoln, CA
Just Closed!
$825,000Transaction Highlights:•Sold for Bankruptcy Trustee•List to Closed in 60 Days•Sold Above Initial BOV Price•Congrats to Walter Helm – Newlywed
Walter [email protected], CA
Tony [email protected] Diego, CA
Closed Gas Station Site | Seattle, WA
Just Closed!
$1,300,000Transaction Highlights:•Sold in Receivership for Bank •Received 13 offers •Sold above banks expectations•Non-operating service station sold as-is
Tony [email protected] Diego, CA
Ben [email protected], WA
Family Dollar | Vidalia, LA
Just Closed!
$825,000Transaction Highlights:• 4 months on the market
before going into Contract• Closing Cap Rate 9%
David [email protected], FL
David Gilmore, [email protected], LA
Cummins and Southridge Village I&II | Des Moines, IA
Just Closed!
$7,400,000Transaction Highlights:•197 Unit Affordable Housing Portfolio (Section 8 HAP Contracts & LIHTC)•Multiple offers from across the nation•All Cash Transaction•Complex coordination between multiple partnerships
Cody [email protected], IL
Reid Bennett, [email protected], IL
Jim [email protected], IL
Millennium Plaza | Weston, FL
Just Leased!
$1,200,000Key Lease Terms:•Tenant is BurgerFi •10 Year Lease•+/- 3,034 SF Retail Space• 3% Annual Increases on Base Rent •$20 PSF Tenant Improvement Allowance•6 Months Free Gross Rent Abatement Period •Personal Guaranty from BurgerFi Corporate and Franchisees
Joel A. [email protected] Lauderdale, FL
Hernan Prohaszka [email protected] Lauderdale, FL
Total Inventory:Total Inventory:$62,602,900$62,602,900
Gross Fee Buy Side:Gross Fee Buy Side:$1,356,226$1,356,226
Alpine Mountain Top Resort | Burkesville, KY
Opening Bid/Reserve
$550,000Highlights:•Buy Side Fee: 2%•Swiss Architecture in Iconic Americana Style•26 Rooms - Gated Entry and Steep Slopes Provide Ultimate Privacy•Located Near World Famous Cumberland & Dale Hollow Lakes•A Retreat Property Perfect for Family, Friends and BusinessDon Erler, CAI, AARE
Bill Menish, CAI, [email protected], KY
SVN Q4 National Online Event October 23-25$100+ Million Real Estate & Loan Auction
Riverfront Lodge | Burkesville, KY
Opening Bid/Reserve
$550,000Highlights:•Buy Side Fee: 2%•Modern 40 Room Motel in South Central Kentucky•Opening Bid is Less Than 2 Times Annual Gross Revenues•3 Acres of Land with 100 Vehicle Parking Spaces•Right off US 90 - The Only Real Lodging Facility in Town
Don Erler, CAI, [email protected], KY
Bill Menish, CAI, [email protected], KY
SVN Q4 National Online Event October 23-25$100+ Million Real Estate & Loan Auction
Former Hudepohl Brewery | Cincinnati, OH
Opening Bid/Reserve
$250,000Highlights:•Buy Side Fee: 2%•Excellent Visibility & Immediate Access to Interstates 71 & 75•Plans in Place for a New Mixed-Use Green Development•150,000 SF of Old Improvements on a 1.61 Acre Site•Offered with Incredibly Low $250,000 Opening Bid
Don Erler, CAI, [email protected], KY
Bill Menish, CAI, [email protected], KY
SVN Q4 National Online Event October 23-25$100+ Million Real Estate & Loan Auction
2150 Chenault | Dallas (Carrollton), TX
$1,550,000- For Sale
$31,000-Buy Side Fee
Transaction Highlights:
•40,389 SF of Office Flex-100% Leased
•Opening Bid @ $38.37 /sf
•10 Year IRR @ 20.41% @ List Price
•Cash-On-Cash @ 12.04% @ List Price
•11.2% Cap Rate on Opening Bid Bruce [email protected], TX
SVN Auctionpoint.com Item # 180
Park Forest Plaza | Dallas, TX
$6,150,000- For Sale
$123,000-Buy Side Fee
Transaction Highlights:
•Value Add Investment @ 64% Occupancy on 205,439 SF of Flex
•Opening Bid @ $29.94 /sf
•Reproduction Cost @ $110 /sf
•25 Year IRR @ 25.6%
•Existing NOI @ 64% @ $483,767
•80% Occupancy NOI @ $716,968
Bruce [email protected], TX
SVN Auctionpoint.com Item # 270
13500 Midway | Dallas (Carrollton), TX
$2,750,000- For Sale
$55,000-Buy Side Fee
Transaction Highlights:
•43,374 SF of Retail Office-62% Leased
•Opening Bid @ $38.37 /sf
•10 Year IRR @ 27.04% @ List Price
•Cash-On-Cash @ 12.04% @ List Price
•“Value-Add” PlayBruce [email protected], TX
SVN Auctionpoint.com Item # 250
14240 Midway | Dallas (Farmers Branch), TX
$2,600,000- For Sale
$52,000-Buy Side Fee
Transaction Highlights:
•47,973 SF of Office-96% Leased
•Opening Bid @ $54.19 /sf
•25 Year IRR @ 26.71% @ List Price
•Cash-On-Cash @ 12.95% @ List Price
•11.2% Cap Rate on Opening Bid Bruce [email protected], TX
SVN Auctionpoint.com Item # 240
Lake Point Tower Commercial Condo | Chicago, IL
$1,282,900 | For Sale $44,901 |
Buy Side Fee
& a FIAT 500! (Must close by 12/31 for free car)
Offering Highlights:•Just Reduced by $700,000! •Highly Motivated Seller! •11,855 SF of Vanilla Box Previous Restaurant Space With Black Iron•65’ of Frontage Directly Across From Navy Pier Which Has 8,000,000 Visitors Annually•Just East of Lake Shore Drive With 151,000 Vehicles a Day
Scott [email protected], IL
Laurie [email protected], IL
4300 E. Magnolia | Phoenix, AZ
Price Reduction$750,000 | For Sale
$22,500 | Buy Side Fee
Offering Highlights:•Excellent Owner / User Investor Opportunity•Bank Owned, Will Consider All Offers
•Located Less Than A Mile From
The Hohokam 143 Expressway
Which Provides Easy Access To
The Loop 202, I-10, and US 60
Freeways•Centrally Located In The Heart Of The Industrial Airpark, Just South Of Sky Harbor Airport.
Neil [email protected], AZ
Justin [email protected], AZ
Nicole [email protected], AZ
Free-Standing Rite Aid with Drive-Thru | Virginia Beach, VA
$4,600,000 | For Sale
$138,000 | Buy Side Fee
Offering Highlights:•13,000 sq ft building on 2.296 acre site, built in 2004•Signalized intersection with 2 curb cuts, 3 mi. pop of 111,000•Cap Rate 8.5%•Term through 2023 with four (4) 5-year renewals thereafter
Katherine Campbell, [email protected], VA
Development Land | West Milwaukee, WI
$2,700,000 | For Sale
$54,000 | Buy Side Fee
Offering Highlights:•5.23 Acres adjacent to new Walmart (under construction)•1 block from major thoroughfare experiencing rapid commercial growth of major national tenants•Industrial user on property will lease-back short term•Ideal for new retail, bank branch, hospitality, restaurant development•In Village of West Milwaukee TIF District - municipality is eager and accommodating
Jay Hintze561-429- [email protected], WI
John Klement561-429- [email protected], WI
Ironwood Business Park | Greeley, CO
$4,100,000 | For Sale
$123,000 | Buy Side Fee
Offering Highlights:•Industrial Investment/ Development Opportunity•Across from New Leprino•Property Comprised of 12 Buildings/28 Tenants/27.88 Acres
Julius [email protected] Collins, CO
Cobblestone Fiesta Center | Maricopa, AZ
$5,350,000 | For Sale
$133,750 | Buy Side Fee
Offering Highlights:•Class A - Ace Hardware Anchored Center •Only Hardware Store in Town! Captive Market! •Excellent Traffic Counts & Demographics•Staggering Lease Expirations
Kevin [email protected], AZ
Ryan [email protected], AZ
3601 NW 54th Street | Miami, FL
$2,350,000 | For Sale
$70,500 | Buy Side Fee
Offering Highlights:•+/- 54,560 SF Warehouse Property comprised of Three Bays•User or Multi-Tenant Investment Property •10 Dock High Loading Doors• Situated on +/- 1.55 Acres • Wholesale/Retail Frontage
Joel A. [email protected] Lauderdale, FL
Hernan Prohaszka [email protected] Lauderdale, FL
Single Tenant Industrial Investment | Grand Rapids, MI
$7,635,000 | For Sale
$152,700 | Buy Side Fee
Offering Highlights:•Single Tenant NNN Leased with 10+ years left •Strong local company with $35M +/- sales •Assumable Bond Financing 73% LTV•8 cap plus rental increases
Peter [email protected] Rapids, MI
David [email protected] Rapids, MI
River City Chevron | Bullhead , AZ
$2,300,000 | For Sale
$57,500 | Buy Side Fee
Offering Highlights:•Chevron C-Store•100% Occupied Strip Center w/ Tire Store and Full Service Car Wash •Bank financing Available•7.8% Cap Rate
David [email protected], NV
David [email protected] Vegas, NV
Brandon [email protected] Vegas, NV
Riverwalk Professional Park Office Condo | Bradenton, FL
$1,050,000 | For Sale
$26,250 | Buy Side Fee
Offering Highlights:•Space contains 7,232 SF•Price per SF = $145.19•Great Location across from Manatee Memorial Hospital•Upgraded Finishes throughout including a back up generator•Ideal for Owner Occupied
T. Michael McNamara 941.366.1136 ex [email protected], FL
Arlington South Industrial | Arlington, TX
$1,185,000 | For Sale
$29,625 | Buy Side Fee
Offering Highlights:•36,000 SF•Front and Rear Load Warehouse•100% Leased•Owner Financing Available
James K. Blake, [email protected] Worth, TX
Masonic Plaza | Calistoga, Napa Valley, CA
$1,900,000 | For Sale
$47,500 | Buy Side Fee
Offering Highlights:•Bank REO•3 story, 10,911 SF, retail & office building in prime retail area of picturesque Calistoga•Currently leased to five tenants (1 mth-to-mth) with the potential for strong upside rent growth•Excellent condition after being totally renovated in 2006Catherine House, CCIM
[email protected] Francisco, CA
John [email protected], CA
Sylvan Park & Mirlen Court Apt | Raleigh, NC
$13,000,000 | For Sale
$195,000 | Buy Side Fee
Offering Highlights:•Fringe of Campus opportunity adjacent to NC State•Currently 100% occupied•6.56% Cap rate•178 total units•Operated conventionally, could be converted to all student housing
Jay Taylor, [email protected], NC
Harold [email protected], NC
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