Sperry Van Ness

Asset Recovery

SVN’s Asset Recovery Team provides immediate underwriting nationwide and disposition solutions to financial institutions and real estate clients with distressed portfolio assets. Please click here to learn more about the full scope of this service.

Auction

The Sperry Van Ness Accelerated Marketing Team has planned, orchestrated and conducted successful auctions, sealed bid initiatives and asset dispositions throughout the United States, Mexico, Puerto Rico and the Virgin Islands. Our team has hundreds of years of combined experience working for major corporate clients, financial institutions, government agencies, bankruptcy courts, receivers, trustees, developers and investors. We understand that each portfolio or individual property demands creative thinking, strategic actions, and comprehensive analysis to achieve the best results available in the market. Our goal is to create maximum competition, which equals maximum value for our clients. The Sperry Van Ness Accelerated Marketing Team is built for better results. Be advised – there is a difference!

Open Out-Cry Auction:
This is by far the most traditional and recognized method of the auction process. The seller defines the terms. Pre-sale marketing and due diligence are conducted beforehand and the auction event takes place during a predetermined date, time and location. Bidders are pre-qualified with certified funds to bid and the event is open and conducted live in a competitive environment. Live Online-Internet Bidding is often a value added component.

Sealed Bid:
While this is similar to the Open Out-Cry Auction, offers are submitted in a Sealed Bid format to a certain location on a predetermined day, date and time. Offers are then opened in a closed-door environment and reviewed by the seller and our team as to the price and conformity with the terms of the offering predefined by the seller. This format insures more control over the transaction and is usually best suited for hard to value assets. In this case, the seller has the flexibility to request “best and final” offers from qualified buyers in the competitive range of pricing.

Sealed Bid + Auction:
In this hybrid method of Open Out-Cry and Sealed Bid, terms are established that allow for the sealed-bid process to precede the Open Out-Cry event with up to the five highest bidders invited to participate in the Open Out-Cry auction. The highest sealed bid offer received determines the minimum opening bid for the Open Out-Cry auction. This format provides control and flexibility over the transaction and forces interested prospects to make a strong initial offer in order to be eligible to participate in the second phase.

Accelerated Listing:
In this method, assets are aggressively priced and exposed to the market for a limited period of time. If necessary, this phase is followed by an accelerated marketing program customized for the asset.

Online Auction:
Assets are marketed using a customized accelerated marketing program however all bidding takes place on the internet for the convenience of all bidders.

Brokerage

Sperry Van Ness has Advisors nationwide who are market leaders and recognized experts in retail, office, industrial, self storage, land, multifamily as well as leasing and auctions.

Each Advisor develops the best strategy using all the vast Sperry Van Ness marketing resources and mobilizing the entire brokerage community to work on a specific client’s behalf. Since many of the firm’s Advisors have an average of 10 to 15 years of experience with the added credibility and diligence earned through key real estate designations, they bring an elevated level of specific property knowledge to each transaction.

Many of our brokers have advanced designations such as CCIM and SIOR, which demonstrate an added level of training and expertise. In fact, the total number of these advanced professionals at Sperry Van Ness significantly outnumber those in the brokerage community as a whole. Be advised. There is a difference!

Leasing

The value of any piece of real estate is driven by the rent it generates or the realization of its highest and best use. That is why Sperry Van Ness has developed effective marketing programs and leasing strategies that produce qualified tenants and ensure speed to market. These programs increase the regional and national exposure for a property among qualified buyers. For the owner, the difference is realized in increased rents for their property and value maximization.

Sperry Van Ness Advisors employ “state-of-the-science” data mining coupled with highly experienced real estate research to deliver results through Sperry Van Ness’ distinctive 575 Target Marketing. This sophisticated use of technology, ideal for owners of office or industrial properties, goes far beyond a D&B MarketPlace or InfoUSA search which is typically used by most brokers. Advisors use 575 Target Marketing to find potential local users of space based on expanded metrics starting with SIC code, building size, employees, sales and geography, among other in depth analysis. This complete package produces a significant competitive advantage in the marketplace over other firms or individuals who cannot provide the same depth of resources or wide range of experience, especially for the diversity of prices and properties in the marketplace.

Simply stated, Sperry Van Ness Advisors can produce more qualified buyers and tenants sooner for both entrepreneurial and institutional clients.

Lending

Sperry Van Ness has long standing relationships with local, regional and national investment bankers. Through these relationships we are able to find the best source of funding for each commercial real estate project or investment. Recently, SVN launched SVN/Better Capital Partners. You can find more information at www.svnbcp.com

Property Management

Sperry Van Ness provides property owners with the day-to-day peace of mind that their investment is cared for in a courteous and responsive manner.

Sperry Van Ness provides a full range of management services including, but not limited to:

• Annual budget preparation and periodic reviews
  
• Monthly variance reporting
  
• Lease negotiation (both new and renewals), preparation and administration
  
• Collecting, posting, and depositing all rental payments
  
• Enforcement of tenant rules and regulations
  
• Obtaining, evaluating and administering vendor bids and contracts
  
• Maintaining files in accordance with management contract
  
• Oversee maintenance and ensure work orders are completed
  
• Market property for leasing purposes
  
• Manage property to ensure safety, longevity, and curb appeal
  
• Disbursements of fund as agreed upon by owners and Broker
  
• Reviewing and enforcing leases
  
• Establishing bank accounts and administration of accounts
  
• Soliciting bids for insurance coverage
  
• Negotiation of vendor contracts
  
• Planning and implementation of preventative, seasonal and corrective maintenance
  
• Fielding tenant inquiries and resolving issues
  
• Preparation and mailing of all tenant correspondence
  
• Supervision of all vendor actions including routine and emergency maintenance
  
• Oversee tenant improvement construction

Sperry Van Ness Management Listings

RETAIL

Frankfort Place Shopping Center, 193 Versailles Road, Frankfort, KY

Frankfort Place Shopping Center is a community level shopping center and office center located on one of Frankfort’s most heavily traveled roads (US 60). The center consists of approximately 40,000 square feet of retail space and 30,000 square feet of office space. Frankfort Place offers Frankfort residents with two exceptional restaurant, Arandas and Pizza Hut, as well as other services such as Capital Fitness, Movie Warehouse, Payday USA, Memories A la Mode, and Wireless Blue.

Gateway Shopping Center, Indian Mound Drive, Mt. Sterling, KY
Gateway Shopping Center is a JC Penny’s anchored shopping center located next to Interstate 64 in Mt. Sterling, Kentucky. This community level center consists of 160,949 square feet and several separately owned outparcels.

Zandale Shopping Center, 2220 Nicholasville Road, Lexington, KY
Zandale Shopping Center is a neighborhood level center located within the major retail corridor of Lexington residents. The center consists of 72,580 square feet including Plato’s Closet, Once
Upon A Child, and Chase Bank.

Idle Hour Shopping Center, 2051-2121 Richmond Road, Lexington, KY
Idle Hour Shopping Center is a community level shopping center and passive office center located on one of Lexington s most heavily traveled arterials. The center consists of 50,773 square feet of retail space and 10,789 square feet of office space. Idle Hour Shopping Center offers Lexington residents with two exceptional restaurants as well as other services such as a barber shop, All State insurance, and dry cleaners.

Tattersalls Shoppe’s, 861 South Broadway, Lexington, KY
Tattersalls Shoppe’s is a multi-tenant building consisting of 7,140 square feet located on South Broadway near downtown Lexington.

Whitesburg Plaza, Whitesburg, KY
Whitesburg Plaza is a community level shopping center and it serves the trade area of Letcher County. Whitesburg Plaza is solidly anchored by Wal-Mart and IGA Food World. Other tenants include Little Caesars, A Plus Rent To Own, Auto Zone, Shoe Show, and Cato’ s. The center consists of 111,022 square feet.

Malabu Heights, 2348-2358 Nicholasville Road, Lexington, KY
Malabu Heights is a neighborhood level center located on the busiest retail corridor roads in Lexington. The center consists of 34, 479 square feet including many service style tenants as well as a restaurant and nail salon.

OFFICE

Perimeter Center, 651 Perimeter Drive, Lexington, KY
Perimeter center is a beautiful six story class “A” office building located in Perimeter Office Park. The building consists of 69,172 square feet primarily occupied by Bluegrass Family Health Insurance Company. The office building is located near New Circle Road and Man O’ War Boulevard- two major collector roads in the Lexington market.

INDUSTRIAL / FLEX/ WAREHOUSE

Flex/Warehouse Buildings, 501-575 Horton Court and 2061 Buck Lane, Lexington, KY

These four flex space building are conveniently located just off Buck Lane at Greendale Road. There are 4 buildings totaling approximately 130,000 sf. The tenants include, Crop Production Services, Hillyard, PODS, and Athens Paper. This area has great ingress and egress for trucks and great New Circle and Interstate 64/75 access.

Office / Warehouse Buildings, 2520-2526 Regency Road, Lexington, KY
These two flex space building are conveniently located just off Nicholasville Road at New Circle Road on Regency Road. Each building consists 15,300 square feet.

Kentucky Indoor Soccer and Sports Facility, 404 Sporting Court, Lexington, KY
A 44,000 s.f. two field indoor soccer facility located just off of Reynolds Road in South Lexington.

MULTI-FAMILY

Stable View Apartments, 1100 Horsemans Lane, Lexington, KY
Stable View Apartments consists of twenty four two bedroom two bathroom apartments located less than a mile from the University Of Kentucky’s Campus.

TenantBuyer Representation

Tenant/Buyer Representation
Tenant/Buyer Representation is a specialized niche in commercial real estate brokerage that represents users of commercial real estate in their search for land or a building.

Our Goal
Our goal is to provide the most professional level of services resulting in acquiring an ideal property at the most competitive rate possible in the market with the least amount of your time and effort.

Our Promise (or How we will get you there)
1. Clearly understand your needs and requirements.
2. Explore every possibility in the market.
3. Provide a professional tour of the most suitable options.
4. Create competition for your occupancy.
5. Provide you with comparative analysis.
6. Assist you in negotiating a favorable lease or purchase.
7. Monitor the construction of improvements
8. Help you with coordination of the move to new space
9. Complete the final walkthrough.
10. Provide you a transaction summary.

Our Process
1. Develop a Project Plan

• Identify the key outcomes to be accomplished
• Identify team members and clarify roles for your real estate team and the Sperry Van Ness team.
• Execute a written representation agreement that outlines the duties and compensation for Sperry Van Ness.
• List the most important expectations of Sperry Van Ness by you – the client.

2. Analyze your Needs

• Space requirements, present and future
• Growth
• Budget, operating costs and capital requirements
• Location
• Building Requirements

3. Search the Market

• Market survey – Leave no stone unturned
• Property tours
• Short list selection – Establish a 1st, 2nd and 3rd choice
• Develop & distribute RFP – Help the landlords and sellers be responsive to your needs. Our goal is to create competition among the landlords and sellers by providing a well developed list of your requirements & expectations. . . then facilitate a bidding environment.

4. Occupancy

• RFP responses – analyze proposals
• Financial analysis – compare proposals
• Lease or purchase negotiations
• Improvements construction monitoring – if required
• Move-in – assist in coordinating relocation
• Lease commencement – Sale closing.