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Ten-X.com February 2023 5 6 DC MAYOR AIMS TO ADD 7 MILLION SQUARE FEET OF RESIDENTIAL SPACE DOWNTOWN 8 DC APARTMENT MARKET MAY SEE RECORD CONSTRUCTION IN 2023 Features
COSTAR NEWS INSIGHT
DC Mayor Aims To Add 7 Million Square Feet of Residential Space Downtown
Reprinted With Permission from CoStar
‘Comeback Plan’ Seeks To Grow Population by 35,000, Relying on Office Conversions
By Katherine Hamilton CoStar NewsJanuary 10, 2023
Mayor Muriel Bowser has released a “Comeback Plan” outlining Washington, D.C.’s economic development goals for the next five years, including adding 7 million square feet of residential units to the city’s historically office-laden downtown.
The plan, announced Monday, serves as D.C.’s Comprehensive Economic Development Strategy, the city’s economic roadmap that’s created by analyzing economic assets and needs across neighborhoods. The last CEDS was approved in 2010 at the beginning of the last population boom. It allows the city and its stakeholders to apply for federal funding that could support the strategy’s efforts.
Bowser’s plan orbits around D.C.’s population growth, which has slowed during the COVID-19 pandemic after about a decade of rapid growth in the 2010s. The city’s population is at about 671,000, down from almost 690,000 in 2020, according to
the U.S. Census Bureau. One of Bowser’s goals is to bump the population up to 725,000 by 2028, which would be the highest it’s been since the 1970s.
A major part of this population increase will lie in her promise to bring 15,000 residents to downtown D.C., an idea she first floated in her swearing-in speech last week and included in her list of six goals that make up the Comeback Plan. She clarified in Monday’s announcement that she would achieve the downtown benchmark by adding 7 million square feet of residential units downtown. This would most likely involve office conversions, as the central business district has struggled over the past two years with office vacancies due to remote work policies. Bowser has also called on the federal government to assist in either bringing federal workers back into the office full time or ceding underutilized office buildings to become housing.
6
In addition to increasing overall and downtown populations in D.C., Bowser also set goals to create 35,000 new jobs, increase the share of minorityowned businesses to 33%, eliminate disparities in food, housing and internet access, and lift the median household income of Black residents by $25,000. All six goals are set to be achieved by 2028.
“This is a comeback that is focused on equity,” Bowser wrote in the announcement of her plan,
which was created in collaboration with the Office of the Deputy Mayor for Planning and Economic Development. “This is about making sure we have the revenues to support our world-class city services, our robust network of social programs, and the resources — like our schools and rec centers — that keep people in DC.”
7 Ten-X.com February 2023
Office-to-residential conversions, such as the one planned at 1825 Connecticut Ave. NW, will likely help Washington, D.C., Mayor Muriel Bowser meet her goal of adding 7 million square feet of multifamily units downtown. (CoStar)
Muriel Bowser Mayor - Washington DC
“
This is about making sure we have the revenues to support our world-class city services, our robust network of social programs, and the resources — like our schools and rec centers — that keep people in DC.By Chris LeBarton
8
Apartment Market May See Record Construction in 2023 COSTAR NEWS INSIGHT Reprinted With Permission from CoStar
CoStar Analytics January 10, 2023 Even With Shortfall, New Units Should Top 10,000 for 11th Straight Year A Decade of Five-Digit Apartment Growth in DC
DC
The Washington, D.C., area’s apartment market faces challenges in 2023. Assessing the supplydemand balance — and where vacancy comes out in the wash — can help owners, operators and investors prepare for the new year’s hurdles and unearth opportunities.
Drawing on CoStar’s extensive multifamily data, this analysis highlights macro trends and where supply pressure is highest and lowest among neighborhoods, in addition to a look at two bellwether projects on track for a 2023 completion.
Record Year in Reach
For the 10th straight year, more than 10,000 market-rate apartments opened in the Washington area, and there are still 35,000 more under construction across the region. Nearly 16,000 of those units are slated to be completed in 2023, a number that would surpass 2014 for the highest gross unit total ever in a given year.
Already the nation’s fifth-largest apartment market by units, the Washington area is projected to have the fifth-most gross units completed this year, trailing New York, with 27,000; Austin, Texas, with 19,500; Dallas-Fort Worth, with 19,250; and Atlanta, with 18,500.
Still, there are several factors that could keep the 2014 mark atop the leaderboard, ranging from
zoning delays to continued strains on labor and materials. But even if current estimates fell by 10%, 2023 would still see the third-biggest one-year addition to the area in terms of new apartments coming on line. In 2020, over 14,500 gross units were finished.
Usual and Unusual Suspects Lead Apartment Construction
Anyone remotely familiar with the Washington apartment market knows that two areas — Southwest-Navy Yard and H Street-NoMa — have been the brightest spots on the development heat map for years. The pair consistently has between 15% and 30% of units under construction compared
9 Ten-X.com February 2023
This live-work unit at Mission Lofts, the second office-to-residential conversion from Highland Square Holdings, demonstrates how the firm utilizes large office floor plates. (Highland Square Holdings)
to their respective inventories, and together these two neighborhoods house 20% of all units under construction in the area.
Both areas are expected to see a lighter completion schedule this year than in the past two years, but any units add more strain to operators in increasingly competitive landscapes. Vacancy in each area is in the mid-teens and asking rent growth has evaporated in the second half of 2022.
Spotsylvania, Virginia, falls well below both D.C. powerhouses in terms of overall apartment construction, but the far-flung suburb 65 miles southwest of Washington is expanding nearly as quickly. Roughly 600 units were under construction in the final week of 2022 —equivalent to almost 20% of market-rate units in the area today — and all are set to hit the market next year. Pandemic flight trends from major urban centers and remote work accelerated Spotsylvania’s growing popularity as an affordability play at the southern end of the Washington metropolitan area.
The Brightwood and nearby Fort Totten neighborhoods in D.C. have over 1,500 units under construction, as does the Anacostia neighborhood in Southeast. The neighborhoods have relatively large market-rate inventories, but most of the development is skewed to middle- and upper-tier units.
Live-Work-Play, in One Building
Calls for office-to-residential conversions have never been louder, and the Washington area has one of the more unique projects in that space.
Dubbed Three Collective, a trio of former office towers on Leesburg Pike in Bailey’s Crossroads, Virginia, is being redeveloped into 675 units of
“flexidential” space. Each loft unit is designed to have three different permitted uses at all times: a residence, a loft office or true live-work space. It is also set to feature a collaborative workspace, bowling alley, arcade and recording studio when construction finishes.
Washington’s office market is one of the most troubled in the country — both in terms of leased space and workers utilizing it. Washington began the year with nearly 16% of its 520 million square feet of office space vacant, trailing only Houston, at 19%; Dallas-Fort Worth, at 17.5%; and San Francisco, at 16.7%, among major markets. In theory, converting obsolete or distressed office buildings into multifamily reduces vacancy and increases housing, but it is far easier said than done. Most office buildings weren’t designed in ways that can be easily retrofitted for residential use, and even the ones that do make sense face significant hurdles. Zoning changes and planning components can take years, and construction financing is both difficult to come by and prohibitively expensive for most sponsors.
10
This live-work unit at Mission Lofts, the second office-to-residential conversion from Highland Square Holdings, demonstrates how the firm utilizes large office floor plates. (Highland Square Holdings)
The joint venture behind Three Collective, The Wolff Co. and Highland Square Holdings, started out with two critical advantages, however: An enviable basis and a proven conversion model to follow.
The three-building campus, previously known as Skyline, saw its assessed value drop from $680 million roughly a decade ago to $300 million in 2018. The joint venture was able to purchase it in 2019 for $215 million. Skyline also provided a similar, albeit larger, opportunity for Highland to follow a conversion roadmap it had capitalized on previously.
In 2017, Highland acquired a 240,000-square-foot building on Ford Avenue in Alexandria, Virginia. A $52 million renovation created what the firm called a revolutionary real estate concept with highly amenitized loft-style spaces that can each be used as either an apartment, office or live-work space. The 200-unit property sold one year later at a 4.75% capitalization rate, or rate of return — 20 basis points higher than 4- and 5-Star buildings in that same quarter.
Not long after, Highland and Wolff joined forces for the first time to run the same playbook on an office building at 5600 Columbia Pike in Falls Church, Virginia. It reopened in 2020 as the Mission Lofts, a
156-unit live-work complex with units that average 900 square feet.
About 50 miles southwest of Washington in Fredericksburg, Virginia, the Factory at Upper Spotsy is a more traditional redevelopment. Still, its lease-up should shine a light on the ongoing renter dislocation from core D.C. areas. Four industrial buildings are being demolished and hundreds of apartments are being returned as part of the Factory project. The first phase has over 250 units, and developers have plans for roughly 300 more in the future. Average rents in Spotsylvania come in at around $1,700 per unit, slightly more than a 15% discount to the D.C. region’s average of $2,025 per unit.
Fredericksburg, an independent city that shares boundaries with Stafford and Spotsylvania counties, was already on a growth trajectory before the pandemic. Its population grew by almost 15% between 2010 and 2020, and the U.S. Census Bureau estimates that the growth pace held again from 2020 to 2021. The Interstate 95 Express Lane expansion is set to finish later this year, and the Virginia Railway Express is set to expand over the next decade as the $3.7 billion Transforming Rail in Virginia TRIV initiative rolls out.
11 Ten-X.com February 2023
Calls for office-to-residential conversions have never been louder, and the Washington area has one of the more unique projects in that space.
Chris LeBarton - CoStar Analytics
PROPERTY TYPE Office LOCATION Wilmington, DE CLOSED Dec 2022 PAGE VIEWS 8,866 VAULT VIEWS 151 PURCHASE PRICE $18,518,500 SELLER Private Client BROKER Newmark MARKETED. SOLD. CLOSED. 71 DAYS FEATURED CLOSING 12
OFFICE | LISTINGS 13 Ten-X.com February 2023
701 Technology Drive
PA FEATURED LISTING STARTING BID $2,900,000 SIZE $2,900,000 BID ONLINE Feb 27-Mar 2 LEARN MORE www.10x.com/M023024-D Carl Neilson | Colliers | (610) 684-1856 | carl.neilson@colliers.com | Lic# PA RS170623L Paul Horan | Colliers | (412) 515-8525 | paul.horan@colliers.com | Lic# PA RS178346L 14 Broker Co-Op Available Learn More
Canonsburg,
650 H Street NE Washington, DC FEATURED LISTING STARTING BID $2,400,000 SIZE 14,655 SF BID ONLINE Feb 13-15 LEARN MORE www.10x.com/M022774-D Financing Available Ten-X.com Andrew Genova | Donohoe | (202) 625-8415 | andrewg@donohoe.com | Lic# DC SP98369980 Matt Weber | Donohoe | (202) 631-6454 | mattwe@donohoe.com | Lic# DC SP98378678 February 2023 15 FEATURED | OFFICE LISTINGS Learn More
16 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $2,800,000 SIZE 175,000 SF LEARN MORE www.10x.com/M023006-D Frank DiTommaso Cushman & Wakefield (973) 879-1310 frank.ditommaso@cushwake.com Lic# NJ 1861409 Dawn Helms Ten-X (804) 807-7872 dhelms@ten-x.com
Kimball Drive Parsippany, NJ BID ONLINE Feb 27-Mar 2 STARTING BID $2,700,000 SIZE 187,129 SF LEARN MORE www.10x.com/M023003-D Thomas Hernandez Ciminelli Real Estate Services of Florida LLC (813) 908-1727 thernandez@ciminelli.com Lic# FL BK3159123 Mary Foley Ciminelli Real Estate Services of Florida LLC (727) 480-5433 mfoley@ciminelli.com Lic# FL SL590467 6700 Lakeview Center Drive Tampa, FL
200
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(614) 437-4494
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(512) 677-9069
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Jeremy Hakimi Empire Capital Group
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Financing Available 17 Ten-X.com February 2023 BID ONLINE Feb 27-Mar 1 STARTING BID $2,150,000 SIZE 132,424 SF LEARN MORE www.10x.com/M022970-D
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18 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $1,000,000 SIZE 155,177 SF LEARN MORE www.10x.com/M023041-D John Viggers Cushman & Wakefield Iowa Commercial Advisors (515) 778-2605 jviggers@iowaca.com Lic# IA S27531000 Cheri Mascitelli Ten-X (305) 537-9318 cmascitelli@ten-x.com
Sycamore
Waterloo,
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501
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Marcus & Millichap (201) 742-6118
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John Moroz
Investment Associate (201) 742-6131
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Jeff Hart
Suntide Commercial Realty (612) 747-7794
jeffhart@suntide.com
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Suntide Commercial Realty
(612) 834-2250
kevinpeck@suntide.com
Lic# MN 20587160
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213 4th Street Saint Paul, MN
msiegel@corp-realty.com Lic# MS
Derek Rudd Ten-X (949) 398-2589
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14858
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Eddie Mendizabal Bradley Company (317) 645-6424
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Premier Commercial Real Estate
(317) 454-7171
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Premier Commercial Real Estate (317) 454-7171
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RE/MAX Heritage
(816) 224-8484
dlwiesemann@gmail.com
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Derek Rudd
Ten-X
(949) 398-2589
drudd@ten-x.com
Financing Available 17 Ten-X.com February 2023 BID ONLINE Feb 27-Mar 1 STARTING BID $600,000 SIZE 63,852 SF LEARN MORE www.10x.com/M023007-D
14611 W Commerce Road Daleville, IN BID ONLINE Feb 27-Mar 2 STARTING BID $500,000 SIZE 23,860 SF LEARN MORE www.10x.com/M022925-D
700 R D Mize Road
Springs,
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MO
803 N Jackson Street (Alt: 313 First Ave) Albany, GA
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Mary Linda Cotten | Coldwell Branker/Walden & Kirkland (229) 347-0953 | marylindacotten@gmail.com Lic# GA 281464
Christopher Rivera | Ten-X (305) 509-6751 | crivera@ten-x.com
4919 S Renellie Drive Tampa, FL
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5900 Mosteller Drive 21 Oklahoma City, OK
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22 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $250,000 SIZE 6,020 SF
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Financing Available 17 Ten-X.com February 2023 23
24 PROPERTY TYPE Multifamily LOCATION Vero Beach, FL CLOSED Dec 2022 PAGE VIEWS 13,272 VAULT VIEWS 364 PURCHASE PRICE $1,339,000 SELLER Private Client BROKER Inkwell MARKETED. SOLD. CLOSED. 76 DAYS FEATURED CLOSING
Ten-X.com February 2023 25 MULTIFAMILY | LISTINGS
MI
26 Broker Co-Op Available FEATURED LISTING STARTING BID $1,000,000 SIZE 48 Units BID ONLINE Feb 27-Mar 2 LEARN MORE www.10x.com/M023021-D Learn More
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Ten-X.com February 2023 Financing Available 27 Brian Richardson | Kidder Mathews | (425) 450-1123 | brian.richardson@kidder.com | Lic# WA 78371 Josh Mehlberger | Ten-X | (949) 379-8633 | jmehlberger@ten-x.com 3125 Oak Harbor Road Oak Harbor, WA 27 FEATURED | MULTIFAMILY LISTINGS FEATURED LISTING STARTING BID $1,000,000 SIZE 29 Units BID ONLINE Feb 13-16 LEARN MORE www.10x.com/M022956-D Learn More
28 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $1,300,000 SIZE 17 Units LEARN MORE www.10x.com/M023051-D Guthrie Garvin JLL (917) 412-9996 guthrie.garvin@am.jll.com Lic# NY NY30GA1030860 Darlene Johnson Ten-X (512) 439-3543 djohnson1@ten-x.com 444 E 13th Street New York, NY BID ONLINE Feb 27-Mar 2 STARTING BID $650,000 SIZE 12 Units LEARN MORE www.10x.com/M023018-D Frank Gyorody Ardor Commercial Advisor (704) 877-7402 frank@ardorcre.com Lic# NC 295338 Nicholas Lancetti Ardor Commercial Advisor (704) 885-5552 nlancetti@ardorcre.com Lic# NC 320264 421 Honeywood Avenue Charlotte, NC
Rob
Colliers (407) 733-5764
rob.graham@colliers.com Lic# FL SL3403629 Cheri Mascitelli Ten-X (305) 537-9318
cmascitelli@ten-x.com
Financing Available 17 Ten-X.com February 2023 29 BID ONLINE Feb 13-15 STARTING BID $600,000 SIZE 15 Units LEARN MORE www.10x.com/M022955-D
Graham
244 E Graves Avenue Orange City, FL BID ONLINE Feb 27-Mar 2 STARTING BID $350,000 SIZE 77 Units LEARN MORE www.10x.com/M022982-D Kyle Hallion
Healthcare Real Estate Advisors
Mark Riso
Healthcare Real Estate Advisors
3006 Hoffmeyer Road
SC
Blueprint
(312) 300-4762 khallion@blueprinthcre.com Lic# KY 276079
Blueprint
Lic# SC 68935
Florence,
1777 Ali Baba Avenue Opa Locka, FL
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Laura Sanchez | Green Lands Realty (305) 503-4121 | laura@lauraisyourrealtor.com Lic# FL 3200886
Jorge Peraza (305) 781-5220 | assistant@lauraisyourrealtor.com Lic# FL 0000
W2613 and W2629 Barney Court
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Mark Riso | Blueprint Healthcare Real Estate Advisors Lic# FL BK3376059
30 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $300,000 SIZE 6 Units
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BID
2 STARTING BID $100,000 SIZE 37 Units
Appleton, WI
ONLINE Feb 27-Mar
2767 Raymond Diehl Road Tallahassee, FL
1125
Quincy, FL
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997
Aurora Road Sagamore Hills, OH
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Financing Available 17 Ten-X.com February 2023 BID ONLINE Feb 27-Mar 2 STARTING BID $100,000 SIZE 39 Units
Strong Road
Mark Riso | Blueprint Healthcare Real Estate Advisors Lic# FL BK3376059 BID ONLINE Feb 27-Mar 2 STARTING BID $100,000 SIZE 103 Units
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PROPERTY TYPE Retail LOCATION Washington, DC CLOSED Nov 2022 PAGE VIEWS 33,308 VAULT VIEWS 36 PURCHASE PRICE $1,442,000 SELLER Private Client BROKER Miller Walker Retail Real Estate 81 DAYS MARKETED. SOLD. CLOSED. FEATURED CLOSING 32
33 RETAIL | LISTINGS Ten-X.com February 2023
34 Broker Co-Op Available Michael Nieder | JLL | (312) 300-7291 | michael.nieder@am.jll.com | Lic# IL 475189942 Jaime Fink | JLL | (312) 528-3683 | jamie.fink@am.jll.com | Lic# WI 5416390 FEATURED LISTING STARTING BID $7,000,000 SIZE 241,283 SF BID ONLINE Feb 27-Mar 1 LEARN MORE www.10x.com/M022998-D Learn More 5700 Capitol Drive Milwaukee, WI
Financing Available Ten-X.com February 2023 Kyle Danielson | Horvath & Tremblay | (202) 847-4200 | kdanielson@htretail.com | Lic# MA 9538605 Austin Smith | Horvath & Tremblay | Lic# VA 0225241692 35 FEATURED | RETAIL LISTINGS FEATURED LISTING STARTING BID $1,000,000 SIZE 5,145 SF BID ONLINE Feb 27-Mar 2 LEARN MORE www.10x.com/M023012-D Learn More 1701 Financial Loop Woodbridge, VA
36 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $1,500,000 SIZE 6,145 SF LEARN MORE www.10x.com/M023016-D
Chesler Colliers
299-3083
NJ 9587537
Norris Colliers
299-3010
Jacklene
(973)
jacklene.chesler@colliers.com Lic#
Patrick
(973)
patrick.norris@colliers.com Lic# NJ 146766
BID ONLINE Feb 13-16 STARTING BID $950,000 SIZE 5,359 SF LEARN MORE www.10x.com/M023023-D Houmehr Panoussi
Business Advisors
816-1141
CA 01853627
Silguero Ten-X
493-2579
144 E Palmdale Blvd Palmdale, CA
81 Route 4 W 101 & 103 Paramus, NJ
Liberty
(661)
panoussi.lba@gmail.com Lic#
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(909)
csilguero@ten-x.com
Houston,
Ann Tran
Compass Real Estate (281) 524-9540
ann.tran@compass.com
Lic# TX 0531375
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Ten-X (949) 398-2589
drudd@ten-x.com
Alvin,
Justin Miller Marcus & Millichap (713) 452-4287
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Jameson Kuykendall
Ten-X (949) 383-5670
jkuykendall@ten-x.com
Financing Available 17 Ten-X.com February 2023 37 BID ONLINE Feb 27-Mar 2 STARTING BID $700,000 SIZE 10,297 SF LEARN MORE www.10x.com/M022976-D
Point Lookout Drive
18000
TX BID ONLINE Feb 13-16 STARTING BID $450,000 SIZE 7,880 SF LEARN MORE www.10x.com/M022928-D
S Gordon Street
1509
TX
14402 Walters Road Houston, TX
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Recy Dunn | KW Commercial - Houston Professionals (281) 444-3900 | askrecy@kwcommercial.com Lic# TX 614951
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3612 Oro Dam Blvd
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Russ Moroz | Marcus & Millichap (916) 724-1310 | russ.moroz@marcusmillichap.com Lic# CA 01807787
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16850 Northchase Drive
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38 Broker Co-Op Available BID ONLINE Feb 27-Mar 1 STARTING BID $350,000 SIZE 1,816 SF
BID ONLINE Feb 27-Mar 2 STARTING BID $75,000 SIZE 1,075 SF
BID
27-Mar 1 STARTING BID $75,000 SIZE 2,208 SF
Oroville, CA
ONLINE Feb
Houston, TX
Financing Available 17 Ten-X.com February 2023 39
PROPERTY TYPE Hotel LOCATION Houston, TX CLOSED Dec 2022 PAGE VIEWS 5,750 VAULT VIEWS 193 PURCHASE PRICE $11,730,000 SELLER Private Client BROKER CBRE MARKETED. SOLD. CLOSED. 100 DAYS FEATURED CLOSING 40
41 HOTEL | LISTINGS Ten-X.com February 2023
Corina Swartz | Hotel Brokers of America | (661) 910-8003 | corina@hotelbrokersinc.com | Lic# CA 01905002 Niti Naik | Hotel Brokers of America | Lic# TX 735690 42 Broker Co-Op Available FEATURED LISTING STARTING BID $3,100,000 SIZE 113 Rooms BID ONLINE Feb 13-16 LEARN MORE www.10x.com/M022978-D Learn More 11069 Composite Drive Dallas, TX
Ten-X.com February 2023 Financing Available Michael Yu | CBRE | (713) 577-1629 | michael.yu@cbre.com | Lic# TX 568947 Tyler Bean | CBRE | (713) 577-1670 | tyler.bean@cbre.com 43 FEATURED | HOTEL LISTINGS FEATURED LISTING STARTING BID $2,750,000 SIZE 127 Rooms BID ONLINE Feb 27-Mar 2 LEARN MORE www.10x.com/M022991-D Learn More 1577 Gateway Blvd Richardson, TX
44 Broker Co-Op Available BID ONLINE Feb 27-Mar 1 STARTING BID $2,250,000 SIZE 122 Rooms LEARN MORE www.10x.com/M022988-D Dinesh Dan Rama NewGen Advisory (602) 478-9636 dan.rama@newgenadv.com Lic# AZ BR515223000 Dean Nix Harbert Realty Services (205) 458-8123 dnix@harbertrealty.com Lic# AL 0000307880
BID ONLINE Feb 27-Mar 1 STARTING BID $2,000,000 SIZE 77 Rooms LEARN MORE www.10x.com/M022992-D Steve Leslie JLL (404) 995-2158 steve.leslie@am.jll.com Guy Oswalt JLL Lic# AL 0001170870 29450 N
Street
4300 Colonnade Parkway Birmingham, AL
Main
Daphne, AL
Mabelle Perez
Berkadia Real Estate Advisors
(786) 208-4795
mabelle.perez@berkadia.com
Lic# FL SL3393845
Gregg Cordaro
Bekadia Real Estate Advisors
Lic# LA BROK47906AACT
Bullhead
Brian Smuckler
CBRE
(602) 735-5688
brian.smuckler@cbre.com
Lic# AZ SA101740000
Josh Mehlberger
Ten-X
(949) 379-8633
jmehlberger@ten-x.com
Financing Available 17 Ten-X.com February 2023 45 BID ONLINE Feb 13-15 STARTING BID $2,000,000 SIZE 77 Rooms LEARN MORE www.10x.com/M022883-D
Prien Lake Road
Charles, LA BID ONLINE Feb 13-16 STARTING BID $1,350,000 SIZE 81 Rooms LEARN MORE www.10x.com/M023025-D
1731
Lake
Lee Avenue
336
City,
AZ
12924 GA Highway 251 Darien, GA
46 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $850,000 SIZE 66 Rooms LEARN MORE www.10x.com/M022994-D Randy Taylor DSH Hotel Advisors (813) 605-1756 randytaylor@dshhoteladvisors.com Jennifer Stein Lic# GA 79082
BID ONLINE Feb 13-16 STARTING BID $800,000 SIZE 57 Rooms LEARN MORE www.10x.com/M022922-D Kami Burnette Paramount Lodging Advisors (512) 831-5605 kburnette@paramountlodging.com Lic# TX 688841 Mason McDavid Paramount Lodging Advisors (512) 543-4653 mmcdavid@paramountlodging.com 2400 Mulberry Street Angleton,
TX
Financing Available 17 Ten-X.com February 2023 47 BID ONLINE Feb 13-15 STARTING BID $600,000 SIZE 67 Rooms LEARN MORE www.10x.com/M022921-D Brad Sinclair Avison Young Hotel Group (678) 522-5000 brad.sinclair@avisonyoung.com ANITA GAIL CROWDER Avision Young Lic# MS B14412 215 Dande Drive Brandon, MS BID ONLINE Feb 27-Mar 2 STARTING BID $300,000 SIZE 41 Rooms LEARN MORE www.10x.com/M022993-D Madhur Gupta M Hotels, LLC (919) 428-9840 dialmforhotels@gmail.com Lic# NC 296538 Brian Brockman
Realty
IL 471020548 630 Main Street El Paso, IL
Bang
Lic#
PROPERTY TYPE Industrial LOCATION Kingman, AZ CLOSED Oct 2022 PAGE VIEWS 14,364 VAULT VIEWS 65 PURCHASE PRICE $2,961,250 SELLER Private Client BROKER Citywide Commercial 91 DAYS MARKETED. SOLD. CLOSED. FEATURED CLOSING
49 INDUSTRIAL | LISTINGS Ten-X.com February 2023
11173 - 11193 Dundee Road
50 Broker Co-Op Available BID ONLINE Feb 13-15 STARTING BID $600,000 SIZE 50,281 SF LEARN MORE www.10x.com/M022840-D Justin Harris Cawley Chicago Commercial Real Estate (630) 234-8593 jharris@cawleychicago.com Lic# IL 475175605 Keisha Hartshorn Ten-X (949) 818-6210 khartshorn@ten-x.com
BID ONLINE Feb 27-Mar 2 STARTING BID $450,000 SIZE 16,190 SF LEARN MORE www.10x.com/M023022-D Tom Verducci KW Commercial - Coastal Bend (210) 445-7223 tom@soldbytomv.com Lic# TX 537279 Josh Mehlberger Ten-X (949) 379-8633 jmehlberger@ten-x.com 5401 Leopard Street Corpus Christi, TX
Huntley, IL
Michael Fine Fine & Company LLC
(312) 278-0600
michael@fineandcompany.com Lic# IL 471009718
Corey Talley Ten-X (804) 404-2215
ctalley@ten-x.com
Financing Available 17 Ten-X.com February 2023 BID ONLINE Feb 13-15 STARTING BID $200,000 SIZE 45,000 SF LEARN MORE www.10x.com/M022633-D
3220 Stanton Street Springfield, IL
PROPERTY TYPE Land LOCATION Dallas, TX CLOSED Oct 2022 PAGE VIEWS 2,528 VAULT VIEWS 100 PURCHASE PRICE $651,000 SELLER Private Client BROKER DuWest Realty 77 DAYS MARKETED. SOLD. CLOSED. FEATURED CLOSING 52
53 LAND | LISTINGS Ten-X.com February 2023
54 Broker Co-Op Available BID ONLINE Feb 27-Mar 2 STARTING BID $850,000 SIZE .49 Acres LEARN MORE www.10x.com/M023032-D Glenn Dickerson NewQuest Properties (281) 477-4384 gdickerson@newquest.com Lic# TX 542479 Josh Mehlberger Ten-X (949) 379-8633 jmehlberger@ten-x.com 1207-1209 S 1st Street Austin, TX BID ONLINE Feb 27-Mar 1 STARTING BID $650,000 SIZE 68 Acres LEARN MORE www.10x.com/M022881-D Jason Sasser CBRE (813) 830-8409 jason.sasser@cbre.com Lic# FL SL3230636 Andrea Delgado Ten-X (305) 503-2638 adelgado@ten-x.com Carter Road Lakeland, FL
Jasmine Golia Pacific Coast Commercial
(619) 469-3600
jasmine@ pacificcoastcommercial.com
Brian Brockman Bang Realty Lic# IL 471020548
Amy Foote Landqwest Commercial, LLC
(407) 451-5171
afoote@lqwest.com Lic# FL SL3172331
Christopher Rivera Ten-X
(305) 509-6751
crivera@ten-x.com
Financing Available 17 Ten-X.com February 2023 55 BID ONLINE Feb 27-Mar 2 STARTING BID $75,000 SIZE .36 Acres LEARN MORE www.10x.com/M023000-D
228 W Irving Park Road Bensenville, IL BID ONLINE Feb 13-16 STARTING BID $1 SIZE 5.6 Acres LEARN MORE www.10x.com/M022950-D
SR 419 & Edgemon Avenue
Springs, FL
Winter
Isle of Palms Perry, FL
LEARN MORE www.10x.com/M022954-D
Jason Sasser | CBRE (813) 830-8409 | jason.sasser@cbre.com Lic# FL SL3230636
Andrea Delgado | Ten-X (305) 503-2638 | adelgado@ten-x.com
56 Broker Co-Op Available BID ONLINE Feb 13-16 STARTING BID $1 SIZE 94 Acres
Financing Available 17 Ten-X.com February 2023 57
Index By Property Type
58
PROPERTY TYPE CITY STATE SIZE STARTING BID ADDRESS SALE DATE PAGE Office Canonsburg PA 201,299 SF $2,900,000 701 Technology Drive Feb 27 - Mar 2 14 Office Parsippany NJ 175,000 SF $2,800,000 200 Kimball Drive Feb 27 - Mar 2 16 Office Tampa FL 187,129 SF $2,700,000 6700 Lakeview Center Drive Feb 27 - Mar 2 16 Office Washington DC 14,655 SF $2,400,000 650 H Street NE Feb 13-15 15 Office Canton OH 132,424 SF $2,150,000 220 Market Avenue S Feb 27 - Mar 1 17 Office Las Vegas NV 13,000 SF $1,000,000 319 3rd Street Feb 13-16 18 Office Pasadena TX 55,956 SF $1,000,000 213 W Southmore Avenue Feb 13-16 17 Office Waterloo IA 155,177 SF $1,000,000 501 Sycamore Street Feb 27 - Mar 2 18 Office Wayne NJ 25,954 SF $875,000 40 Galesi Drive Feb 13-16 19 Office Saint Paul MN 36,060 SF $850,000 213 4th Street Feb 27 - Mar 2 19 Office Jackson MS 161,542 SF $750,000 200 E Capitol Street Feb 13-16 20 Office Indianapolis IN 25,648 SF $700,000 5726 Professional Circle Feb 27 - Mar 2 20 Office Daleville IN 63,852 SF $600,000 14611 W Commerce Road Feb 27 - Mar 1 21 Office Blue Springs MO 23,860 SF $500,000 700 R D Mize Road Feb 27 - Mar 2 21 Office Albany GA 6,020 SF $250,000 803 N Jackson Street (Alt: 313 First Avenue) Feb 27 - Mar 2 22 Office Tampa FL 3,001 SF $200,000 4919 S Renellie Drive Feb 27 - Mar 2 22 Office Oklahoma City OK 5,343 SF $125,000 5900 Mosteller Drive 21 Feb 27 - Mar 2 22 Multifamily New York NY 17 Units $1,300,000 444 E 13th Street Feb 27 - Mar 2 28 Multifamily Oak Harbor WA 29 Units $1,000,000 3125 Oak Harbor Road Feb 13-16 27 Multifamily Springfield MI 48 Units $1,000,000 54 - 60 Springview Drive Feb 27 - Mar 2 26 Multifamily Charlotte NC 12 Units $650,000 421 Honeywood Avenue Feb 27 - Mar 2 28 Multifamily Orange City FL 15 Units $600,000 244 E Graves Avenue Feb 13-15 29 Multifamily Florence SC 77 Units $350,000 3006 Hoffmeyer Road Feb 27 - Mar 2 29 Multifamily Opa Locka FL 6 Units $300,000 1777 Ali Baba Avenune Feb 27 - Mar 2 30 Multifamily Appleton WI 32 Units $100,000 W2613 and W2629 Barney Court Feb 27 - Mar 2 30 Multifamily Quincy FL 39 Units $100,000 1125 Strong Road Feb 27 - Mar 2 31 Multifamily Sagamore Hills OH 103 Units $100,000 997 Aurora Road Feb 27 - Mar 2 31 Multifamily Tallahassee FL 37 Units $100,000 2767 Raymond Diehl Road Feb 27 - Mar 2 30 Retail Milwaukee WI 241,283 SF $7,000,000 5700 Capitol Drive Feb 27 - Mar 1 34 Retail Paramus NJ 6,145 SF $1,500,000 81 Route 4 W 101 & 103 Feb 27 - Mar 2 36 Retail Woodbridge VA 5,145 SF $1,000,000 1701 Financial Loop Feb 27 - Mar 2 35 Retail Palmdale CA 5,359 SF $950,000 144 E Palmdale Blvd Feb 13-16 36 Retail Houston TX 10,297 SF $700,000 18000 Point Lookout Drive Feb 27 - Mar 2 37 Retail Alvin TX 7,880 SF $450,000 1509 S Gordon Street Feb 13-16 37
17 Ten-X.com February 2023 59 PROPERTY TYPE CITY STATE SIZE STARTING BID ADDRESS SALE DATE PAGE Retail Houston TX 1,816 SF $350,000 14402 Walters Road Feb 27 - Mar 1 38 Retail Houston TX 2,208 SF $75,000 16850 Northchase Drive Feb 27 - Mar 1 38 Retail Oroville CA 1,075 SF $75,000 3612 Oro Dam Blvd Feb 27 - Mar 2 38 Hotel Dallas TX 113 Rooms $3,100,000 11069 Composite Drive Feb 13-16 42 Hotel Richardson TX 127 Rooms $2,750,000 1577 Gateway Blvd Feb 27 - Mar 2 43 Hotel Birmingham AL 122 Rooms $2,250,000 4300 Colonnade Parkway Feb 27 - Mar 1 44 Hotel Daphne AL 77 Rooms $2,000,000 29450 N Main Street Feb 27 - Mar 1 44 Hotel Lake Charles LA 77 Rooms $2,000,000 1731 Prien Lake Road Feb 13-15 45 Hotel Bullhead City AZ 81 Rooms $1,350,000 336 Lee Avenue Feb 13-16 45 Hotel Darien GA 66 Rooms $850,000 12924 GA Highway 251 Feb 27 - Mar 2 46 Hotel Angleton TX 57 Rooms $800,000 2400 Mulberry Street Feb 13-16 46 Hotel Brandon MS 67 Rooms $600,000 215 Dande Drive Feb 13-15 47 Hotel El Paso IL 41 Rooms $300,000 630 Main Street Feb 27 - Mar 2 47 Industrial Huntley IL 50,281 SF $600,000 11173 - 11193 Dundee Road Feb 13-15 50 Industrial Corpus Christi TX 16,190 SF $450,000 5401 Leopard Street Feb 27 - Mar 2 50 Industrial Springfield IL 45,000 SF $200,000 3220 Stanton Street Feb 13-15 51 Land Austin TX .49 Acres $850,000 1207-1209 S 1st Street Feb 27 - Mar 2 54 Land Lakeland FL 68 Acres $650,000 Carter Road Feb 27 - Mar 1 54 Land Bensenville IL .36 Acres $75,000 228 W Irving Park Road Feb 27 - Mar 2 55 Land Perry FL 94 Acres $1 Isle of Palms Feb 13-16 56 Land Winter Springs FL 5.6 Acres $1 SR 419 & Edgemon Avenue Feb 13-16 55
Index By Property State
60
PROPERTY TYPE CITY STATE SIZE STARTING BID ADDRESS SALE DATE PAGE Hotel Birmingham AL 122 Rooms $2,250,000 4300 Colonnade Parkway Feb 27 - Mar 1 44 Hotel Daphne AL 77 Rooms $2,000,000 29450 N Main Street Feb 27 - Mar 1 44 Hotel Bullhead City AZ 81 Rooms $1,350,000 336 Lee Avenue Feb 13-16 45 Retail Oroville CA 1,075 SF $75,000 3612 Oro Dam Blvd Feb 27 - Mar 2 38 Retail Palmdale CA 5,359 SF $950,000 144 E Palmdale Blvd Feb 13-16 36 Office Washington DC 14,655 SF $2,400,000 650 H Street NE Feb 13-15 15 Land Lakeland FL 68 Acres $650,000 Carter Road Feb 27 - Mar 1 54 Multifamily Opa Locka FL 6 Units $300,000 1777 Ali Baba Avenune Feb 27 - Mar 2 30 Multifamily Orange City FL 15 Units $600,000 244 E Graves Avenue Feb 13-15 29 Land Perry FL 94 Acres $1 Isle of Palms Feb 13-16 56 Multifamily Quincy FL 39 Units $100,000 1125 Strong Road Feb 27 - Mar 2 31 Multifamily Tallahassee FL 37 Units $100,000 2767 Raymond Diehl Road Feb 27 - Mar 2 30 Office Tampa FL 187,129 SF $2,700,000 6700 Lakeview Center Drive Feb 27 - Mar 2 16 Office Tampa FL 3,001 SF $200,000 4919 S Renellie Drive Feb 27 - Mar 2 22 Land Winter Springs FL 5.6 Acres $1 SR 419 & Edgemon Avenue Feb 13-16 55 Office Albany GA 6,020 SF $250,000 803 N Jackson Street (Alt: 313 First Avenue) Feb 27 - Mar 2 22 Hotel Darien GA 66 Rooms $850,000 12924 GA Highway 251 Feb 27 - Mar 2 46 Office Waterloo IA 155,177 SF $1,000,000 501 Sycamore Street Feb 27 - Mar 2 18 Land Bensenville IL .36 Acres $75,000 228 W Irving Park Road Feb 27 - Mar 2 55 Hotel El Paso IL 41 Rooms $300,000 630 Main Street Feb 27 - Mar 2 47 Industrial Huntley IL 50,281 SF $600,000 11173 - 11193 Dundee Road Feb 13-15 50 Industrial Springfield IL 45,000 SF $200,000 3220 Stanton Street Feb 13-15 51 Office Daleville IN 63,852 SF $600,000 14611 W Commerce Road Feb 27 - Mar 1 21 Office Indianapolis IN 25,648 SF $700,000 5726 Professional Circle Feb 27 - Mar 2 20 Hotel Lake Charles LA 77 Rooms $2,000,000 1731 Prien Lake Road Feb 13-15 45 Multifamily Springfield MI 48 Units $1,000,000 54 - 60 Springview Drive Feb 27 - Mar 2 26 Office Saint Paul MN 36,060 SF $850,000 213 4th Street Feb 27 - Mar 2 19 Office Blue Springs MO 23,860 SF $500,000 700 R D Mize Road Feb 27 - Mar 2 21 Hotel Brandon MS 67 Rooms $600,000 215 Dande Drive Feb 13-15 47 Office Jackson MS 161,542 SF $750,000 200 E Capitol Street Feb 13-16 20 Multifamily Charlotte NC 12 Units $650,000 421 Honeywood Avenue Feb 27 - Mar 2 28 Retail Paramus NJ 6,145 SF $1,500,000 81 Route 4 W 101 & 103 Feb 27 - Mar 2 36 Office Parsippany NJ 175,000 SF $2,800,000 200 Kimball Drive Feb 27 - Mar 2 16 Office Wayne NJ 25,954 SF $875,000 40 Galesi Drive Feb 13-16 19
PROPERTY TYPE CITY STATE SIZE STARTING BID ADDRESS SALE DATE PAGE Office Las Vegas NV 13,000 SF $1,000,000 319 3rd Street Feb 13-16 18 Multifamily New York NY 17 Units $1,300,000 444 E 13th Street Feb 27 - Mar 2 28 Office Canton OH 132,424 SF $2,150,000 220 Market Avenue S Feb 27 - Mar 1 17 Multifamily Sagamore Hills OH 103 Units $100,000 997 Aurora Road Feb 27 - Mar 2 31 Office Oklahoma City OK 5,343 SF $125,000 5900 Mosteller Drive 21 Feb 27 - Mar 2 22 Office Canonsburg PA 201,299 SF $2,900,000 701 Technology Drive Feb 27 - Mar 2 14 Multifamily Florence SC 30,246 SF 77 Units 3006 Hoffmeyer Road Feb 27 - Mar 2 29 Retail Alvin TX 7,880 SF $450,000 1509 S Gordon Street Feb 13-16 37 Hotel Angleton TX 57 Rooms $800,000 2400 Mulberry Street Feb 13-16 46 Land Austin TX .49 Acres $850,000 1207-1209 S 1st Street Feb 27 - Mar 2 54 Industrial Corpus Christi TX 16,190 SF $450,000 5401 Leopard Street Feb 27 - Mar 2 50 Hotel Dallas TX 113 Rooms $3,100,000 11069 Composite Drive Feb 13-16 42 Retail Houston TX 10,297 SF $700,000 18000 Point Lookout Drive Feb 27 - Mar 2 37 Retail Houston TX 1,816 SF $350,000 14402 Walters Road Feb 27 - Mar 1 38 Retail Houston TX 2,208 SF $75,000 16850 Northchase Drive Feb 27 - Mar 1 38 Office Pasadena TX 55,956 SF $1,000,000 213 W Southmore Avenue Feb 13-16 17 Hotel Richardson TX 127 Rooms $2,750,000 1577 Gateway Blvd Feb 27 - Mar 2 43 Retail Woodbridge VA 5,145 SF $1,000,000 1701 Financial Loop Feb 27 - Mar 2 35 Multifamily Oak Harbor WA 29 Units $1,000,000 3125 Oak Harbor Road Feb 13-16 27 Multifamily Appleton WI 32 Units $100,000 W2613 and W2629 Barney Court Feb 27 - Mar 2 30 Retail Milwaukee WI 241,283 SF $7,000,000 5700 Capitol Drive Feb 27 - Mar 1 34 17 Ten-X.com February 2023 61
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