562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL
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562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL Aerial • 480 Offices • 61 Countries • 15,000 Professionals • $52 Billion in Transactions • 1+ Billion SF Managed • $2 Billion in Revenue About Colliers Colliers International is a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence, and a shared sense of initiative, we have integrated the resources of real estate specialists worldwide to accelerate the success of our clients. Property Profile Competitive Offerings The Colliers Team Building Type: Manufacturing / Distribution Size: 562,817± SF Location: Lake Mary, FL Land Size: 32.58± acres Year Built: 1995, 1998 Dock High Doors: 48 Power: Progress Energy Drive Ins: 2 Zoning: M-2A, City of Lake Mary Parking: 300+ Trevor Hall, Jr. Director Land Services Direct +1 407 362 6173 Mobile +1 407 758 8017 [email protected] Comparable Sales Property Summary Sale Price Property: 1010 W Weir Road Address: 1010 W Weir Road Size: 314,467 Year Built: 1991 Price PSF: $10.33 $3,250,000 Property: Madison Technology Park Address: 2500 Dr F E Wright Drive Size: 568,606 Year Built: 1991 Price PSF: $12.31 $7,000,000 Property: 2905 Old Oakwood Road Address: 2905 Old Oakwood Road Size: 309,000 Year Built: 1998 Price PSF: $14.56 $4,500,000 Property: Former Reebok Building Address: 3965 Pilot Drive Size: 336,080 Year Built: 1987 Price PSF: $15.18 $5,100,000 Property: 1 Mutec Drive Address: 1 Mutec Drive Size: 340,170 Year Built: 1989 Price PSF: $15.29 $5,200,000 Property: Braselton 85 Address: 900 Hwy 124 Size: 422,920 Year Built: 1989 Price PSF: $19.39 $8,200,000 Property: Mikasa Address: 1980 Clements Ferry Road Size: 849,850 Year Built: 1998 Price PSF: $23.53 $20,000,000 Property: Region Court Address: 5200 Region Court Size: 407,000 Year Built: 1988 Price PSF: $32.92 $13,400,000 Marketing Strategy Dolores S. Seymour, MCR, CCIM, SIOR Managing Director Industrial Services Direct +1 813 871 8506 Mobile +1 813 495 6247 [email protected] Marketing Objective • Maximize Sales Price • Minimize Time to Closing Property • Understanding the property Built as Manufacturing/Distribution Facility •8 th largest industrial building in Orlando Market • Not economically feasible to reconfigure to alternate use Establish approximate market value • Comparable Sales • Competitive Offerings on Market Identify Buyers Local, Regional, National, and International Marketing must reach out to all prospective buyers regardless of location Marketing Create / Install / Insert High Quality Marketing Materials • Two or Four page flyer, marketing brochure is appropriate • Create / Host a dedicated secure website for the property • Install signs on the property Rose Shorten Regional Director Property Management Direct +1 407 362 6169 Mobile +1 407 468 8504 [email protected] William E. Parke, SIOR Director Industrial Services Direct +1 407 362 6149 Mobile +1 407 252 5248 [email protected] Edward L. Miller, CCIM, SIOR Principal, Managing Director Industrial Services Direct +1 813 871 8507 Mobile +1 813 508 2084 [email protected] Danny Rice GIS & Market Analytics Direct +1 407 362 6153 Fax +1 407 843 4485 [email protected] Property Summary Asking Price Property: 88 Armory Road Address: 88 Armory Road Size: 301,550 SF Year Built: 1998 Price PSF: $15.92 $4,800,000 Property: Mohawk Distribution Center Address: 212 Burlington Drive Size: 565,793 SF Year Built: 1996 Price PSF: $17.32 $9,800,000 Property: Elkin Industrial Park Address: 1000 Candle Wycke Land Size: 416,000 SF Year Built: 1997 Price PSF: $20.43 $8,500,000 Property: Florence Industrial Center Address: 1500 Range Way Size: 423,581 SF Year Built: 1989 Price PSF: $23.61 $10,000,000 Property: Santens of America Address: 5121 Old Pearman Dairy Road Size: 427,377 SF Year Built: 1989 Price PSF: $24.57 $10,500,000 Property: 9105 Hacks Cross Road Address: 9105 Hacks Cross Road Size: 605,427 SF Year Built: 1995 Price PSF: $28.08 $17,000,000 Property: NACOM Address: 375 Airport Road Size: 509,000 SF Year Built: 1997 Price PSF: $29.47 $15,000,000 Property: Kelly Road Warehouse Address: 2973 Kelly Boulevard Size: 411,706 SF Year Built: 1999 Price PSF: $40.08 $16,500,000 Acquisitions Tenant Representation Landlord Representation Real Estate Management Construction Management Appraisal & Valuation Core Services Investment Sales Office Sales & Leasing Industrial Sales & Leasing Retail Sales & Leasing Land Sales Multi-Family Negotiate terms for the Purchase and Sale Considerations • Timing • Price • Contingencies • Financial capability of buyer • Buyer’s proposed use of property Closing on Sale Estim ated Tim e from Listing to ContractatAsking Price/SF Price Paid 3 M onths 6 M onths 9 M onths 12 M onths 15 M onths 18 M onths 21 M onths 24 M onths 27 M onths $24.00 13,507,608 $ Average ofC om petitive O fferings less highestand low est $23.00 12,944,791 $ $22.00 12,381,974 $ $21.00 11,819,157 $ $20.00 11,256,340 $ $19.00 10,693,523 $ $18.00 10,130,706 $ $17.00 9,567,889 $ $16.00 9,005,072 $ Average ofC om parable Sales less highestand low est $15.00 8,442,255 $
description
562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL. Property Profile. Comparable Sales. Competitive Offerings. About Colliers - PowerPoint PPT Presentation
Transcript of 562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL
562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL
Aerial
• 480 Offices
• 61 Countries
• 15,000 Professionals
• $52 Billion in Transactions
• 1+ Billion SF Managed
• $2 Billion in Revenue
About ColliersColliers International is a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence, and a shared sense of initiative, we have integrated the resources of real estate specialists worldwide to accelerate the success of our clients.
Property Profile Competitive Offerings
The Colliers Team
Building Type: Manufacturing / Distribution
Size: 562,817± SF
Location: Lake Mary, FL
Land Size: 32.58± acres
Year Built: 1995, 1998
Dock High Doors: 48
Power: Progress Energy
Drive Ins: 2
Zoning: M-2A, City of Lake Mary
Parking: 300+
Trevor Hall, Jr.DirectorLand Services
Direct +1 407 362 6173Mobile +1 407 758 [email protected]
Comparable Sales
Property Summary Sale Price
Property: 1010 W Weir RoadAddress:1010 W Weir RoadSize: 314,467Year Built: 1991Price PSF: $10.33
$3,250,000
Property: Madison Technology ParkAddress:2500 Dr F E Wright DriveSize: 568,606Year Built: 1991Price PSF: $12.31
$7,000,000
Property: 2905 Old Oakwood RoadAddress:2905 Old Oakwood RoadSize: 309,000Year Built: 1998Price PSF: $14.56
$4,500,000
Property: Former Reebok BuildingAddress:3965 Pilot DriveSize: 336,080Year Built: 1987Price PSF: $15.18
$5,100,000
Property: 1 Mutec DriveAddress:1 Mutec DriveSize: 340,170Year Built: 1989Price PSF: $15.29
$5,200,000
Property: Braselton 85Address:900 Hwy 124Size: 422,920Year Built: 1989Price PSF: $19.39
$8,200,000
Property: MikasaAddress:1980 Clements Ferry RoadSize: 849,850Year Built: 1998Price PSF: $23.53
$20,000,000
Property: Region CourtAddress:5200 Region CourtSize: 407,000Year Built: 1988Price PSF: $32.92
$13,400,000
Marketing Strategy
Dolores S. Seymour, MCR, CCIM, SIORManaging DirectorIndustrial Services
Direct +1 813 871 8506Mobile +1 813 495 [email protected]
Marketing Objective
• Maximize Sales Price
• Minimize Time to Closing
Property
• Understanding the propertyBuilt as Manufacturing/Distribution Facility
• 8th largest industrial building in Orlando Market
• Not economically feasible to reconfigure to alternate useEstablish approximate market value
• Comparable Sales
• Competitive Offerings on Market
Identify BuyersLocal, Regional, National, and InternationalMarketing must reach out to all prospective buyers regardless of
location
MarketingCreate / Install / Insert High Quality Marketing Materials
• Two or Four page flyer, marketing brochure is appropriate
• Create / Host a dedicated secure website for the property
• Install signs on the property
• Broker / User email blasts
• Create a list of user / investors for a mass mailing via USPS
Rose ShortenRegional DirectorProperty Management
Direct +1 407 362 6169Mobile +1 407 468 [email protected]
William E. Parke, SIORDirectorIndustrial Services
Direct +1 407 362 6149Mobile +1 407 252 [email protected]
Edward L. Miller, CCIM, SIORPrincipal, Managing DirectorIndustrial Services
Direct +1 813 871 8507Mobile +1 813 508 [email protected]
Danny RiceGIS & Market Analytics
Direct +1 407 362 6153Fax +1 407 843 [email protected]
Property Summary Asking Price
Property: 88 Armory RoadAddress:88 Armory RoadSize: 301,550 SFYear Built: 1998Price PSF: $15.92
$4,800,000
Property: Mohawk Distribution CenterAddress:212 Burlington DriveSize: 565,793 SFYear Built: 1996Price PSF: $17.32
$9,800,000
Property: Elkin Industrial ParkAddress:1000 Candle Wycke LandSize: 416,000 SFYear Built: 1997Price PSF: $20.43
$8,500,000
Property: Florence Industrial CenterAddress:1500 Range WaySize: 423,581 SFYear Built: 1989Price PSF: $23.61
$10,000,000
Property: Santens of AmericaAddress:5121 Old Pearman Dairy RoadSize: 427,377 SFYear Built: 1989Price PSF: $24.57
$10,500,000
Property: 9105 Hacks Cross RoadAddress:9105 Hacks Cross RoadSize: 605,427 SFYear Built: 1995Price PSF: $28.08
$17,000,000
Property: NACOMAddress:375 Airport RoadSize: 509,000 SFYear Built: 1997Price PSF: $29.47
$15,000,000
Property: Kelly Road WarehouseAddress:2973 Kelly BoulevardSize: 411,706 SFYear Built: 1999Price PSF: $40.08
$16,500,000Acquisitions
Tenant Representation
Landlord Representation
Real Estate Management
Construction Management
Appraisal & Valuation
Core ServicesInvestment Sales
Office Sales & Leasing
Industrial Sales & Leasing
Retail Sales & Leasing
Land Sales
Multi-Family
Negotiate terms for the Purchase and SaleConsiderations
• Timing
• Price
• Contingencies
• Financial capability of buyer
• Buyer’s proposed use of property
Closing on Sale
Estimated Time from Listing to Contract at Asking Price/SF
Price Paid
3
Months6
Months9
Months12
Months15
Months18
Months21
Months24
Months27
Months
$24.00 13,507,608$ Average of Competitive Offerings less highest and lowest
$23.00 12,944,791$
$22.00 12,381,974$
$21.00 11,819,157$
$20.00 11,256,340$
$19.00 10,693,523$
$18.00 10,130,706$
$17.00 9,567,889$
$16.00 9,005,072$ Average of comparable sales less highest and lowestof Comparable Sales less highest and lowest
$15.00 8,442,255$
