Retail & Restaurant

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.

RETAIL

Retail real estate comes in many forms, whether you’re looking to buy, sell, or lease space in a local strip center, larger anchored or shadow anchored centers, large power centers, or free standing leased investments, Our Advisors are here to help! Our up-to-date market research allows us to advise our clients in making informed decisions that further their long-term business goals. In combination with our strategic and personalized marketing plans, SVN Advisors work tirelessly to ensure clients’ space needs are met.

 

Restaurant and Retail Specialists
Nora Walsh
Wouter Wulffers

Nora Walsh

Associate Advisor
Office: (515) 259-1041
Cell: (847) 431-6672
Email: nora.walsh@svn.com

Property Management

      • 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

Deal Story

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.

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.

Past Clients