Waffle House Strikes Again – closes on fourth Daytona Location

Posted by admin on May 18, 2017 under by Tim Davis, Commercial Real Estate Definitions | Be the First to Comment

Waffle House restaurants has completed the purchase of 319 Seabreeze Blvd, making the fourth location added in the last year. 319 Seabreeze Blvd is a 1.1 acre site located on the corner of Seabreeze and Oleander Ave. Two locations in Port Orange, a location in Daytona Beach Shores was purchased earlier this month, and now in Daytona Beach. The Seller was Steiner Inc, out of Palm Beach Gardens. Tim Davis of SVN Alliance represented by the Seller and Waffle House in this transaction.

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Waffle House Continues Expansion – New Daytona Beach Shores Location

Posted by admin on April 24, 2017 under by Tim Davis, News Releases | Be the First to Comment

4/24/17

Waffle House Restaurants is continuing the aggressive expansion into Volusia County with the acquisition of the 3200 S. Atlantic Ave in Daytona Beach Shores. The site was a former restaurant that was closed 3 years ago. Waffle House plans to demolish the existing structure and building their newest prototype store. The purchase price was $435,000.

In the last year Waffle House has purchased and constructed a new store at  3740 S Nova Rd in Port Orange, and continues to look at attractive sites in the market.

 

Tim Davis of SVN Alliance Commercial Real Estate Advisors represented the Seller and Buyer in this transaction. 

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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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Int’l Speedway Corp’s “One Daytona” makes its debut at ICSC – 1.1 million SF.

Posted by admin on May 22, 2013 under by Tim Davis, News Releases | Be the First to Comment

From Bisnow:

During this week’s ICSC RECon convention in Las Vegas, Jacoby’s Jim Jacoby and Brian Leary gave an exclusive peek into the firm’s latest mega project—a 1.1M SF mixed-use development directly connected to the Daytona International Speedway called One Daytona. The development—if the partnership can pass municipal muster and round up local incentives—will contain apartments, 500k SF of retail, and two hotels. Over the course of years, ISC assembled 180 acres of land contiguous with the NASCAR racetrack and the firm’s 200k SF HQ. Jacoby already has LOIs from a “major outdoor sporting goods retailer” and a movie theater. Click the video to hear Brian describe one of its three parts.

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REO Inventory slowing down – Sign of Market Restoration?

Posted by admin on April 23, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate | Be the First to Comment

This morning I met with my team in our weekly “REO Team” meeting. We have met weekly(or more) since late 2010 when the velocity of commercial REO started to roll into our office as listings. We formed our team in October 2010, and by mid-2011 had 45-60 commercial properties on the market for a variety of lenders.

In our meeting today, the agenda was looking a bit stark – not many new properties flowing in from our lender relationships – and the ones we still have on the market are quickly moving into contract. Based on my personal experience and sales year-to-date – The market has corrected and is poised to now move forward. I’ve sold several investment properties at market price(for their asset class)and both the buyers and sellers have been pleased with the pricing.

If the foreclosures coming to the market have slowed, and loans are being worked out, do you feel like we are back to a normalized CRE market?

TD

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Freshly Leased Space. Ahh – the Excitement of a New Business Expansion!

Posted by admin on April 16, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate | Be the First to Comment

JUST LEASED – at 1640 S. Segrave in South Daytona – 6,000 Sf of Industrial Warehouse Space – in a Dock high distribution building. The tenant, Daytona Cash&Carry plans to use the space to expand their business into wholesale distribution. They currently operate several retail stores in the Daytona Beach area, and now hope to move into the wholesale market by suppling goods to other retailers in the area. The principle products are dry food goods and imported candies. Tim Davis of Coldwell Banker Commercial represented both the landlord and the tenant in this transaction.

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Florida adds 134,000 New Jobs – Statewide Unemployment Under National Average

Posted by admin on March 20, 2013 under by Tim Davis, daytona beach commercial real estate, Daytona Commercial Real Estate, Jokers..., News Releases | Be the First to Comment

A report released today from Wells Fargo shows that Florida has added 134,000 new jobs over the 12 months ended January 2013. The annual unemployment drop f 1.4% (to 7.8%) is the largest drop of any state. The only sectors of showing a reduction in job growth still are information and government jobs. Another interesting thought is that when analyzing the data by MSA – Orlando and Tampa are leading the way in job growth.

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Apartment Sector Stays Super Heated – Another Multi-Family Sale in Daytona Beach

Posted by admin on March 6, 2013 under daytona beach commercial real estate, Daytona Commercial Real Estate, investment property for sale in daytona beach | Be the First to Comment

The Ridgewood Apartments, located at 1101 S. Ridgewood Ave., recently sold for $600,000. The seller was Peter and Deborah Glover and the buyer was JustBAA, LLC. The property consists of 14 apartments and a single family home on 2 acres of land spanning from S. Ridgewood east to S. Palmetto along Francis Parkman Place.  The Glovers had recently remodeled all of the units.  Bob Rand, of Coldwell Banker Commercial Benchmark, represented the buyer and Peter Glover represented himself as the Seller.

 

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How much Distressed Property is still out there?

Posted by admin on March 5, 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

This is a great question, and we get it many times from buyers and bankers alike.

I bring forth 2 examples today. The first, an interview by GlobeSt with Rich Walter of Bank Assetpoint. In the interview,  you can watch here, Rich breaks it out as follows:

$10B in REO
$40B in Non-performing Assets, or Non-accruing Assets
$20B still tied up in Loss-Share
That equates to $70B worth of distressed property.

The chart at left is from Bank of America’s 4Q CRE report, which seems to show approximately $175B in “troubled and REO” While these two measures are far apart, the take away I am focusing on is that they are numbers far lower than what we were facing in 2010.

Email me or leave a comment below with your email if you would like to see the entire report from Wells Fargo.

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