For Lease- 7500 SF Dock High Warehouse Space

Posted by Chris Riehm on March 12, 2018 under by Tim Davis, Commercial Real Estate Definitions, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

SVN Alliance is offering +/- 7,500 SF for lease in 705 Fentress Blvd. The leasable area is the rear 2/3 of the building. The space features 450 SF of office space, and two ADA restrooms. Three 10×14 bay doors, above grade, one with a hydraulic leveler and the other two have a ramp parallel to the building for forklift access. Building has 800 amp power, 18’ clear height, and a 75’ truck court from the building to the property line. Metal Halide light fixtures in the shop with skylights provide excellent lighting. Current tenant in 1/3 of the building would be willing to relocate to the rear portion of a prospect wanted the front space with more office space and mezzanine storage above.

Price $6.50 SF/yr (NNN)

Contact info:

Tim Davis, CCIM

386-566-4917

tim.davis@svn.com

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New Listing- Hard Corner Commercial Development Site

Posted by Chris Riehm on March 5, 2018 under by Tim Davis, Commercial Real Estate Definitions, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

This 8+/- acre commercial development site is at the lighted intersection of two of Daytona Beach’s most active roadways, International Speedway Blvd (US 92) and LPGA Blvd. This area, and both of these roadways, are experiencing incredible growth and development today. The site is just minutes from Latitude Margaritaville, Daytona Beach Int’l Airport, Daytona International Speedway, Tanger Outlets and ONE Daytona. The property is already cleared, has incredible visibility to traffic and provides quick access to I-4 and I-95. This intersection would be ideal for gas/C-store and retail development.

Price 1,600,000

Tim Davis, CCIM

386-566-4917

tim.davis@svn.com

 

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New Listing +/-20,000 SF Build to Suit Industrial Site

Posted by Chris Riehm on March 1, 2018 under by Tim Davis, Commercial Real Estate Definitions, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, Uncategorized | Be the First to Comment

SVN Allianance is pleased to present an excellent industrial flex build-to-suit project along the US-1 corridor. The property is on the corner of Parque and Calle Grande, right on the border of Ormond Beach and Holly Hill. The site is +/- 1.5 acres and is fully engineered for approximately 20,000 SF. There could be some flexibility depending on parking requirements. The site plan is attached to this listing as a blank canvas for your concept.

The location is behind a Publix anchored shopping center, with multiple restaurants, retailers, banking centers nearby. This is clean, quiet, safe location for a new business with excellent access to all parts of east Volusia county and beyond.

Price $1,500,000

Tim Davis, CCIM

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21,000 SF Multi-Tenant Income Warehouse Park – Sold

Posted by admin on October 31, 2017 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, News Releases | Be the First to Comment

The 21,300 SF Fern Business Park located on Sixth St, directly across from the News Journal has sold. The Seller was Phyllis Oevermann, who was the developer of the business park. The land was purchased in 1972 and construction on the four buildings spanned into the mid-1980’s. A former Mainland High School teacher, Oevermann purchased the land and developed the buildings to facilitate here post-teaching career; she started and ran Shoreline Silks in the park for over 25 years.

The property was marketed by Tim Davis of SVN Alliance on and off for the last decade, and was placed back on the market in July of 2016. The park was 94% occupied at the time of sale, with a sale price of $782,500. This represents a sub-9% cap rate, and well in line with the current market for non-credit investment property.

The business park is best know for it’s long-term tenants. Notably Gina’s Deli, which has been in operation for 14 years at the location, with their predecesor Louis’ Deli was there for over 10 years. PJ Sign Systems, has been in the business park for over 15 years.

The Buyer was Fern Street LLC, and group represented by Len Marinaccio of Ormond Beach. The immediate plans are to operate the park as it is, and make some minor improvements and beutification along the way.

For any questions about the details of this sale (or other industrial properties in the market) do not hesitate to call Tim Davis with SVN Alliance.

Tim Davis, Partner
SVN Alliance
386-566-4917
tim.davis@svn.com

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Beachside Multi-Family Apartment Sells in Daytona Beach Shores

Posted by admin on July 8, 2015 under by Tim Davis, investment property for sale in daytona beach, News Releases | Be the First to Comment

The Sea Shell Villa, an eleven unit apartment building at 3760 S. Atlantic Ave in Daytona Beach Shores has sold. The property closed July 6, for $860,000. The property is located on the west side of A1A, with direct beach access. The Seller was Tom Thornton of Lockbourne Ohio, the purchaser was Ramesh Yeluri of Taylor Michigan.

This sale is significant for two reasons; first it represents another transaction by an out-of-state party making a significant investment in a beachside real estate. The Buyer’s interest was driving largely by the exciting pipeline of projects for beachside Daytona Beach. Secondly, the sale price represents a 7.6% capitalization rate. This is a near record low cap rate for a low-rise garden style multi-family property in the Daytona Beach area.

Charles Wayne Properties, Inc. is one of Central Florida’s largest commercial real estate brokers.  It manages, leases or owns in excess of 1,500,000 sq. ft. of retail and office properties, and has offices in Orlando, DeLand, Melbourne, Ocala and Daytona Beach.


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Florida’s Economy Continues to Outpace the U.S.

Posted by admin on March 17, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

 

 

 

 

 

 

 

 

 

 

 

 

From Wells Fargo’s Economic Group today, news that Florida’s unemployment rate fell 0.2 percentage points in January to 6.1 percent. Nonfarm employment figures were revised modestly higher and show Florida adding jobs at a pace well ahead of the nation. Florida has added a net of 244,000 new jobs over the trailing twelve months.

Read the full Wells Fargo White Paper HERE

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Hard Rock Daytona Beach – VIP Gala at Rolex 24

Posted by admin on January 23, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, Uncategorized | Be the First to Comment

 

 

 

 

 

 

 

 

 

 

 

 

Last night Bayshore Capital CEO Henry Wolfond asked me if I was excited as him about the Hard Rock hotel coming to Daytona Beach. I laughed and offered that maybe “excited” was a grand understatement in the context of what a project like this means to our city. We circulated around the room last night, looking at al of the Memorabilia on hand, from guitars to clothing worn by the music industry’s greatest acts.

A few years ago, when we were first assigned the task of marketing the land for the previous owner, I had no idea who would be interested in the site. We took on the task in July of 2010, and on one of those following summer afternoons, I went over to the site, and took some photos from teh top floor balcony of the condo to the south, as well as some from the beach, looking back at the seawall. Those shots looking back at the property from the shoreline really struck me – you do not realize the size of that vacant parcel driving by at 40mph.

Over the next year I made hundreds of phone calls to groups from all over the world, and dozens of personal visits to developers and opportunity funds in the northeast. I could see the massive potential in such a massive size parcel. Nearly a linear quarter mile of land, in a developed, mature coastal city, 4 miles from a national airport, and let us not forget the World Center of Racing, Daytona International Speedway.

I applaud the Bayshore team, and look forward to all of their development plans for not only this site, but the other 4 oceantfront properties they own.

Click HERE for This morning’s NewsJournal Story on the VIP Gala

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Daytona Beach Shores Resort Trades for $39+ Million

Posted by admin on January 8, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach, Uncategorized | Be the First to Comment

Fresh on the heels of a the Belaire Plaza Sale at $21.5mm – New York firm Garrison Investments has purchased the Shores Resort for $39.25mm.

At 211 rooms – this represents a sale price of $186,000 per room. Certainly a premium price for our market, the Shores is considered by many locals to be the hotel with the top amenities in the area. The hotel restaurant and bar – Azure – is a destination for locals and tourists alike. You must make some assumptions that the revenue from the restaurant and multiple pool-area bars is offsetting the per-key price.

At any rate – This is a further validation of the market, and catalyst for other transactions.

Full News Story by Bob Koslow 

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2014: Will Secondary Markets(and beyond) realize the same gains as Primary Markets have?

Posted by admin on December 23, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

Reading an article on Globe St this morning about secondary market transaction volume increasing in 2014. We operate in a third tier market (at best) and I wonder if we will see this capital start filtering down to markets our size.

In my commentary last week about the sale of Bellair Plaza, I commented that a fund the size of Nightingale purchasing an asset in our market is indeed an endorsement of our market. I had dinner last night with an old friend that worked for the Wyndam organization here in Daytona Beach for 7 years, and was relocated 2 years ago. He had not heard about the Daytona Beach Hotel & Convention Center, The Hard Rock Daytona Beach – he was impressed with even the announcement of a Hilton Garden Inn for the old Bermuda House hotel across from Bellair Plaza.

It some times takes an outsiders look to help us all see what is developing around us and in front of our eyes.

 

http://www.globest.com/news/12_757/national/acquisitions_dispositions/Push-For-Yield-Will-Lead-to-Secondary-Cities-in-2014-340871.html?ET=globest:e41438:472394a:&st=email&s=&cmp=gst:National_PM_20131218:editorial

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10 Year Treasury Rate Now over 2% – When do Cap Rates Rise?

Posted by admin on June 18, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

The 10-year treasury Rate has been solidly over 2% for a month now – 2.17% today – quite a solid amount higher than it was last summer when it bottomed out around 1.43% (7/12).

If the risk premium for commercial real estate has traditionally been  4-4.5% over the 10-year rate, and cap rates are as compressed as ever – with Walgreens, CVS, McDonalds – quality STNL trading at sub-6% rates – how long until we see cap rates rising on a national scale?

What becomes of these assets purchased at a 6 cap, with no significant NOI increases in next 5 years?

If you own this property type in your portfolio – seems like time to cash out if you have any plans to in the next 5 years.

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