ProtoGroup Daytona Beach Hotel – Site Work Continues [VIDEO]

Posted by admin on May 2, 2017 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

Protogroup is moving right along with site work, drilling cores for the pouring of the concrete pilings that will be the foundation of the hotel tower.


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Sold – 1620 S. Atlantic Ave Land Sale, Daytona Beach .64 ac

Posted by admin on September 22, 2016 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

9/12/16

A 0.64 acre site on the west side of South Atlantic Ave has sold. The site at 1620 S. Atlantic is directly across from the Holiday Inn Beach Resort, and is the site of the former Steve’s Famous Diner and later Marco’s Italian. The structure has fallen into what is believed to be irrecoverable condition over the last few years, and the sale price of $600,000 demonstrates this was a land-value only transaction.

The seller was an investment company from Orlando, Humphrey Investments who purchased the property several years ago as an investment in the recovery of Daytona’s beachside. The recent sale of the neighboring Holiday Inn Beach Club for $27M certainly proves that growth. The buyer was a related company to the Nautilus Inn just north of the site. They plan to redevelop the site for some other retail use and to provide additional parking for the hotel.

Tim Davis of SVN Alliance represented the Buyer and Seller.

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9.2ac Industrial & Flex/Warehouse Land Sale

Posted by admin on under by Tim Davis, daytona beach commercial real estate, News Releases | Be the First to Comment

SVN Alliance is pleased to announce the closing of this 9.2ac development site. featuring over 2200′ of frontage on Parque Drive the site is located just behind the Publix shopping center on S. Yonge Street in Ormond Beach. The sellers were the Hardesty family who were original developers of nearby historical projects.

Ohio industrialist Walter C. Hardesty began developing land along what is present-day Calle Grande Street in the early 1900’s. In 1923 he built the 120-room Riviera Hotel as part of a proposed Rio Vista Resort that would stretch along canals to the west. A golf course began operating on Calle Grande Street after World War II and was expanded in 1955 into the present-day Riviera Country Club.

“It is neat to see infill locations such as this sell after a family has owned them for over 100 years. The original family members would purchased the land had grand plans, and it is good to see those carried out by someone after all these years” – Tim Davis

Tim Davis of SVN Alliance represented the Sellers in the transaction.

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Beachside Daytona Beach Office Building – Sold

Posted by admin on September 2, 2014 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, News Releases | Be the First to Comment

501 Plaza Blvd in Daytona Beach has sold – the 1700 SF freestanding office building just off of Atlantic Ave, adjacent to Bel Air Plaza closed today for $105,000. The seller was ET Partners out of Knoxville Tennessee, who acquired the building via a bulk note purchase earlier this year which this asset was collateralizing.

The buyer is Timeless Touch Inc. They have no immediate plans for the building and like the investment opportunity the building poses.

Tim Davis of Charles Wayne Properties Inc was the broker of record in the transaction for ET Partners.

 

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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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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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