Restaurant and Food Grade
How SVN | CREATE can help you
The SVN Restaurant Specialty Practice Group positions its clients to benefit from its extensive, industry-specific experience. Restaurants, taverns, drink shops, bakeries, catering kitchens, and food manufacturers rely on our deep involvement in the retail and food service sector and local market expertise. Our members actively participate in restaurant related professional groups and events in order to stay up to date with the latest trends and pride ourselves on our industry relationships.The SVN Restaurant Specialty Practice Group represents all owners and occupiers of commercial real estate in the food and service sector. Our deep understanding of not only real estate, but the workings of the operations themselves gives us the aptitude to efficiently advise landlords, sellers, buyers, and tenants alike.
Nora Walsh
Associate Advisor
Office: (515) 259-1041
Cell: (847) 431-6672
Email: nora.walsh@svn.com
Nora moved from the suburbs of Chicago to attend the business school at Drake University and graduated with an Integrated Marketing Communications and Direct & Interactive Marketing major and Information Systems minor. Her family background in Commercial Real Estate in the Des Moines and Chicagoland areas spiked her interest in the industry at a young age and gave her the enthusiasm for real estate that she has today.
After working actively for two years in residential property management, Nora fell in love with Iowa and decided to make the transition to become an active Iowa Realtor and joined ICREA, ICSC, IRA and CREW shortly thereafter. She joined the SVN | CREATE team in 2018 and hopes to bring a strategic, yet personable approach to the commercial buying and selling process.
Memberships
Iowa Commercial Real Estate Association
Commercial Real Estate Women of Iowa
International Council of Shopping Centers
West Des Moines Chamber Member
Our experience and property development has shown results as we have had the ability to reduce operating expenses, increase income service tenants, increase properties value and provide the owner(s) with comprehensive reports and recommendations.
Property Management Services
- Property & Asset Management
- Budgeting, Accounting, Reporting Services
- Construction Management Services
- Consulting Services
- Facility Management
- General & Emergency Property Maintenance
- Lease Administration
- Long Range Capital Planning
- Preventative Maintenance Programs
- Property Inspection
- Service Contract Management
- Tenant Relations
- Real-Estate Evaluations & Tax Appeals
- Asset Evaluation
- Association Management
- Multifamily Management
- Capital Improvements
Real Estate Accounting
- Setting up and maintaining fiscal responsibilities
- Reconciling checking accounts each month
- Multi-checking Accounts Payable for accuracy
- Preparing and delivering invoices monthly
- Preparing and delivering past-due collection reports and invoices as needed
- Complete, un-audited financial reports available for our clients and their accountant
- Setting up and monitoring budgets to ensure good cash flow
Tenant Relations
- Provide tenant oriented management
- Perform the onsite duties necessary to insure your assets achieves peak performance
- Utilize our vast network of vendors who perform quality work at reasonable pricing
- Provide full service financial management
- Provide monthly statements to ownership and to communicate regularly
- Provide 24-hour support for tenant emergencies
- Perform ongoing property inspections to discover problems before they happen
- Assist with financial and capital budgeting
- Establish a separate bank account for each property
- Utilization of leading edge software to managing properties efficiently and cost-effectively
Success Stories
6378 Mills Civic Parkway
This property had an out-of-state owner with a leasehold position in place. After leasing the restaurant to a franchisee for close to 15 years, ownership had a desire to sell the building; however, there was a deep concern that the existing operation and employees could be jeopardized.
The footprint of this building also posed a challenge as it was built for a specific user and only a select few operators are successful at producing a significant cash flow with this many restaurant seats. Additionally, at the time of construction and development of this site the immediate out lots were not developed. As additional restaurants located in the area there became a deficiency in parking. The size of the building as it stood was approximately fifteen parking stalls short, with not enough land to satisfy both parking, building area and green space requirements.
SVN engaged in a 45-day quiet marketing period with the direct solicitation of local and national restaurant operators in an effort to protect the existing operations. After extensive analysis of the market and trends, they listed the building at $2.4m, with the expectation from ownership to receive offers between $1.7m and $2.45m. During this short period, ownership was able to entertain several offers, but ultimately decided on an offer for $2.25m with 45 days of due diligence from an investor/developer looking for a project in the area.
The buyer for this site was able to execute a ground lease, based off of a tenant that SVN had identified in the quiet listing process. This resolved the issue of the existing building footprint, while maintaining the protection of the existing operation and its employees up until the date of the property sale and existing businesses closing.
Local News/National News
First time locating real estate for your business? Listen to some tips given by Nora when she was asked to be a guest speaker for the Iowa Center for Economic Success!
Check out Nora’s feature in Elevate Business Magazine
“SVN is committed to our local community and we stand by our business owners – especially when times are tough.”
Recent Clients
