9,000 SF Industrial Warehouse Sale, Local Company Expanding

Posted by admin on March 21, 2017 under by Tim Davis, News Releases | Be the First to Comment

File_001The 9,000 SF industrial warehouse located at 6 Aviator Way in the Ormond Airport Industrial Park has sold. The sale date was March 17th, for the sum of $500,000. The seller was a family trust based in Kentucky, but more importantly the buyer has a user for the building immediately. Another company in the industrial park will be expanding operations. Details on that have not yet been disclosed, but stay tuned for more.

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Florida Labor Market adds 54,300 jobs in January

Posted by admin on March 13, 2017 under by Tim Davis, Commercial Real Estate Definitions, News Releases | Be the First to Comment

A Labor report from Wells Fargo economists shows that Florida added 0.6% of new non-farm employment in January for a total of 54,300 jobs. The research shows that 10,700 of these are construction jobs, with the balance consisting of professional services, wholesale trade, and manufacturing sectors. The year over year gain is now at 3.2%. The charts below shows the unemployment rate holding at near 5% statewide.Screen Shot 2017-03-13 at 3.44.57 PM

Graphic courtesy of Wells Fargo Bank NA.

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200′ Oceanfront Land Parcel – Sold

Posted by admin on August 12, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases, Uncategorized | Be the First to Comment

The 1.28ac parcel at 834 N. Atlantic Ave has sold for $2,200,000. This is just under $40/SF, and now the highest sale per square foot, compared to any of any of the sites 200′ or greater.  The seller was DB Investments of Pinellas, who purchased the site as bank-owned foreclosure in July of 2011. This sale represents the first oceanfront land sale between 2 private parties since late 2007. It is also the first of the formerly bank-owned foreclosed parcels to re-trade from an pure investor to a group with development plans; this is a significant step forward for the beachfront property in Daytona Beach.

During the low part of the recession, there was a fair amount of negative publicity around the outside investment by private equity groups and real estate funds. The fears voiced at that time were that these outside investors would “sit on” the land for a decade or more, and that it would stall redevelopment of Daytona Beach. My counterpoint to those fears; Investors place money in assets seeking a desired rate of return. If that targeted return can be achieved in 20 years or 20 days, that is the event that triggers the sale the investment.

 

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Ormond Beach Retail / Warehouse/Showroom – Sold

Posted by admin on June 5, 2014 under Uncategorized | Be the First to Comment

A Texas based real estate investment group, MDD Enterprises has purchased  the building located at 912 S. Nova Road in Ormond Beach. The 6,000 SF single tenant building has a good local tenant in place, and represented a opportunity for the buyer to purchase a well-located building on a high-traffic arterial roadway. The purchase price represents a comfortable rate of return for an industrial warehouse building with a retail showroom/offices. Long term upside for the buyer lies in the Ormond beach location lending itself to future redevelopment of the site for a more intensive retail use. The buyer was represented by Tim Davis of Charles Wayne Properties.

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Ormond Beach Industrial Continues Run

Posted by admin on June 3, 2014 under Uncategorized | Be the First to Comment

Another building in the Ormond Beach Airport Industrial Park has traded, just 6 weeks after the sale at 30 Aviator. 4 Signal Blvd, totaling 11,600SF,  closed yesterday at $480,000 or just under $42/SF. This one of multiple industrial sales over the $40 SF mark in 2014, demonstrating extended support of this price point. The Buyer is World Color, currently located in the park. They were in the market for additional space to facilitate growth.  The seller was a real estate investment trust, American Environment Foundation. They decided this was an excellent price point for them to recycle their capital.

For other industrial warehouse information and listings – www.daytonawarehouse.com, or 386.566.4917
Tim Davis

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New Listing – Rare Ormond Beach Automotive-Use Building

Posted by admin on May 28, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, New Listings | Be the First to Comment

Very Rarely do you find high-quality automotive service buildings available for sale or lease in Ormond Beach – There are so few areas with the requisite zoning for these uses in Ormond – the opportunity to capitalize on a very clean second generation location could be very lucrative.

3,680 SF, with 5 service bay doors, on busy nova Road with over 29,000 cars per day. The property is available for lease at $18/SF Modified Gross – or for outright purchase at $750,000. A purchaser would also receive the Billboard income as an additional revenue stream.

Tim Davis – Charles Wayne Properties
386-566-4917

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Industrial Warehouse Sale – Ormond Airport Industrial Park

Posted by admin on April 24, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate | Be the First to Comment

A 10,560 SF industrial building has traded – 30 Tower Circle in the Ormond Airport Park. At $430,000, the sale represents a transaction price of just under $41/SF, showing increased recovery in the industrial warehouse subsection of the market.

For other industrial warehouse information and listings – www.daytonawarehouse.com, or 386.566.4917
Tim Davis

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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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