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Memphis & Shelby County Commercial Sales up 14% in 1st Quarter

April 24th, 2014 Comments off

There were 223 commercial property sales recorded in the first quarter of 2014 compared to 196 in the first quarter of 2013, a 14% increase in total sales volume. Average sales prices were up 13% to $1.5 million compared to $1.3 million in Q1 2013.

Multi-family properties had the largest increase in sales activity with 33 recorded for the quarter, up 83% from last year. Apartments made up most of these sales with 30 recorded averaging $2.9 million per transaction.

Retail, Office and Land sales all showed improvements over last year while Industrial, Entertainment and the sales of Churches & Schools were down.

Vacant land over 1 acre had 42 sales claiming the most sales for the quarter followed by neighborhood single tenant commercial properties with 34 sales, apartments with 30 sales and warehouses with 27 sales.

Midtown’s 38104 recorded the most commercial sales for the quarter with 19 total averaging $805,000.

The largest commercial transaction recorded for the quarter was the sale of  Miller Creek of Germantown apartments located in Southeast Shelby County. The 330-unit complex sold for $44 million on January 21st. Click here for a full report of the transaction from The Daily News.

Download our complete collection of commercial market trends for the 1st Quarter including:

  • Commercial Foreclosures by Zip Code
  • Commercial Sales by Property Groups (Office, Retail, Industrial, etc.)
  • Commercial Sales by Property Type (Apartment, Warehouse, Church, etc.)
  • Commercial Sales by Zip Code – Bank vs. Non-Bank
  • Commercial Sales by Property Type – Bank vs. Non-Bank

Commercial Market Conditions - Shelby County

 

 

2013 Commercial Real Estate Review: Seminar Recap

November 14th, 2013 Comments off

Commercial Real Estate Market Reawakens

Article by: Amos Maki, The Daily News

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

However, to make sure the commercial real estate market continues its rebound, civic and business leaders must maintain a laser focus on job creation.

Those themes emerged during the 2013 Commercial Real Estate Review & Forecast hosted by The Daily News on Thursday, Nov. 7, at the Memphis Brooks Museum of Art.

Click here to read the full article from The Daily News.

You may review the presentations delivered by speakers Wyatt Aiken, Brad Kornegay, Blake Pera and Jason Polley by clicking the links below:

Office Real Estate  – Wyatt Aiken, Commercial Advisors 

Industrial Real Estate – Brad Kornegay, Colliers International

Multifamily Real Estate – Blake Pera, CB Richard Ellis

Retail Real Estate– Jason Polley, Stonecrest Investments

 

2nd Qtr 2013 Commercial Market Trends

July 12th, 2013 Comments off

Commercial Market Conditions - Shelby CountyOur 2nd Quarter 2013 Commercial Market Trends Reports are now available for download! Review all commercial sales and foreclosure activity in Memphis and Shelby County by zip code.

Reports include:

  • Commercial Foreclosures by Zip Code
  • Commercial Sales by Property Groups
  • Commercial Sales by Property Type
  • Commercial Sales by Zip Code – Bank v. Non-Bank
  • Commercial Sales by Property Type – Bank v. Non-Bank
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    Click here to download today!

    Shelby County’s Top 5 Commercial Sales of 2012

    January 30th, 2013 Comments off

    Commercial sales were up 2.5% from 2011 with 743 sales recorded. Total sales revenue was up 36% from last year with $1 billion in sales compared to $799 million in 2011.

    Following are the top 5 commercial transactions:

    4660 Collierville Rd , 38017 on May 8, 2012 for $54,000,000-Carriage Avenue Shopping Center

     

    Property Photo

    4500 Quality Dr, 38118 on July 9, 2012 for $37,250,000-Lots 4-10 in Southpark Distribution Center

    Property Photo

    6750 Poplar Ave, 38138 on March 23, 2012 for $33,000,000-Office Building

    Property Photo

    160 Madison Farms, 38017 on June 20, 2012 for $32,100,000-The Madison at Schilling Farms Apartments

    Property Photo

    8840 Bristol Park Dr, 38133 on June 14, 2012 for $29,985,375-The Legends at Wolfchase Apartments

     

    Property Photo

    June Lender Analysis Report

    July 30th, 2012 Comments off
    743 residential loans were filed at time of sale, up 7% from last June, totaling $126 million.
     
    The average loan amount at time of sale was $169,163, up 12% from $150,767 in June 2011.

     

    377 loans were conventional fixed rate with an average mortgage amount of $185,734.
     
    196 loans were FHA fixed rate with an average mortgage amount of $145,318.
     
    There were 35 loans where 2 mortgages were taken at time of sale, averaging $257,737.

    The average sale amount on a residential loan was $197,316 making the average loan to value ratio 86%,  unchanged from last year.

    The majority of loans (23%) were between $50,000-$99,999.

    There were six residential loans filed at time of sale that were over $1 million.

    The Top Lenders by total number of residential loans at time of sale were: Community Mortgage (71 loans), Magna Bank (51 loans) and BancorpSouth (45 loans). 

    The Top Lenders by total number of all residential loans, including refinances, were: Wells Fargo (161 loans), Regions Bank (110 loans) and Magna Bank (105 loans).

    Commercial loans at time of sale were also up, by 56%, with 28 filed averaging $5.5 million and totaling $155 million. 

    The largest commercial loan at time of sale was filed by CWCapital LLC for $25.7 million.

    Click here to view our complimentary Residential Market Conditions trend reports.
     
    Contact us to subscribe to our monthly Lender Analysis reports ($25/month).