Inflation, Jobs Report, & CRE | Economic Update June, 2021
• According to the Bureau of Labor Statistics, consumer prices rose by a seasonally adjusted 0.6% in May from the month prior. While the month-over-month reading was lower than April’s growth rate (0.8% MoM), May’s 5.0% year-over-year change in average prices...
Behind the Surge in Lumber Prices
If you follow the commodities markets, you might wonder why bling isn’t made of wood instead of gold these days. Builders can get lumber if they wait and are willing to pay through the nose. Construction is more expensive, with obvious impacts on strategies at all...
Has Bridge Financing Cast a Shadow Over Agency Lenders?
Pricing has become aligned with how aggressive the private debt funds have gotten in recent months and how aggressively priced multifamily deals have become overall. With the resilience of the multifamily sector of the commercial real estate industry, alternative...
Mike Migone, CCIM Manages Sale of $2.7M Medical Office Building
Sarasota, FLA. (May 19, 2021) – Senior advisor Mike Migone, CCIM of SVN Commercial Advisory Group recently coordinated the sale of a 15,395 SF, multi-level medical office building at 5922 Cattlemen Lane in Sarasota, FLA. The seller, Medical Leasing Group, LLC, was...
GDP, Lumber Prices & The Labor Market | Economic Update
• According to the Bureau of Economic Analysis, Real GDP increased at a seasonally adjusted annualized rate of 6.4% during the first quarter of 2021. • Personal consumption expenditures (PCE), a sub-component of GDP output, rose at an annualized 14.6% in the first...
Gail Bowden of SVN CAG Manages Sale of 3,000 SF Office in Englewood
Englewood, Fla. (May 10, 2021) – Senior advisor Gail Bowden, of SVN Commercial Advisory Group, recently coordinated the sale of a 3,932 SF office suite located at 900 Pine Street, Suite 111 in Englewood, FLA. Tammy Birbeck D.O. PLLC was the buyer. Lemon Bay Vilco,...
SVN CAG Manages Sale-Leaseback of Stearns Bank Branch in St. Pete
St. Petersburg, Fla. (May 11, 2021) – Senior advisor Brad Lindberg, of SVN Commerical Advisory Group, recently coordinated the sale-leaseback of an 11,236 SF bank building located at 7555 MLK Jr. Street North in St. Petersburg, FLA. PR St. Pete, LLC was the buyer....
SVN CAG, CCA manage many $1 million+ deals in Q1
Advisors adapt to changing CRE market amid pandemic and economic contraction Sarasota, Florida (May 07, 2021) – During the first quarter of 2021, advisors from the SVN Commercial Advisory Group and SVN Coastal Commercial Advisors completed more than 50 deals exceeding...
Economic Update | April 30, 2021
• The 7-day moving average of daily COVID-19 cases in the US ticked down to 67,175 on April 19th, a modest decrease that comes after two weeks of near-daily increases. While the trend has started to re-improve, the current mark remains 4% above its recent low measured...
SVN CAG manages sale of 2.16 Acre Ground Lease in North Port
North Port, Fla. (April 19, 2021) – Senior advisor Mike Migone, CCIM of SVN Commercial Advisory Group recently coordinated the 20-year ground lease of 2.16 acres at 17900 Tamiami Trail in North Port, FLA. The landlord, Select Properties of Florida, was represented by...