Boston, MA, Oct. 04, 2022 (GLOBE NEWSWIRE) — SVN International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, announces the addition of its newest franchise office, SVN | Veler Commercial, headquartered in Dallas, Texas.

Led by Managing Director Timothy Veler, SVN | Veler Commercial specializes in high level commercial real estate consulting for clients, both national and local, including acquisition/ disposition, investment sales, agency leasing, and tenant representation. Timothy Veler brings over 28 years of experience as an owner/partner of a real estate investment business focusing on commercial real estate investments, and is responsible for the acquisition, disposition, and management of privately-held and publicly-held commercial investment properties.

A strategic alliance with SVN made perfect sense for Veler, who was drawn to the organization’s unique culture and core values of transparency, innovation, and inclusivity. By leveraging SVN’s extensive network, technologies and nationwide opportunities, SVN | Veler Commercial is eager to expand their services in the Dallas area and beyond.

“We look forward to continuing to grow our services to our clients by growing our team of like minded individuals, and by serving our clients well,” stated Veler.

SVN | Veler Commercial focuses on clients’ goals to understand and fulfill their needs within market-driven timelines, and to assure efficient and professional handling of their transactions. Leasing/ownership services transactions have included Project Leasing for Prologis Inc. (local partner to global tradeTM) and LINK Logistics Industrial, as well as many local investors, landlords, and business owners.

For more information, visit www.svnVeler.com.

About SVN | Veler Commercial

SVN | Veler Commercial specializes in high level commercial real estate consulting for clients, both national and local, including acquisition/ disposition, investment sales, agency leasing, and tenant representation. SVN | Veler Commercial focuses on clients’ goals to understand and fulfill their needs within market-driven timelines, and to assure efficient and professional handling of their transactions. Timothy Veler brings over 28 years of experience as an owner/partner of a real estate investment business focusing on commercial real estate investments, and is responsible for the acquisition, disposition, and management of privately-held and publicly-held commercial investment properties.

About SVN®

The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues, and our communities. The SVN brand is comprised of over 2,000 advisors and staff in more than 200 offices across the globe in six countries. Our brand pillars represent the transparency, innovation, and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues, and communities. For more information, visit www.svn.com.

All SVN offices are independently owned and operated. To learn more about becoming an SVN commercial real estate business owner, visit //www.svn.com/franchising-opportunities/.

LinkedIn: SVN® International Corp.
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Facebook: @SVNIC

The Austin office market had a stable third quarter of 2022, with elevated demand but rising vacancy rates. The average rental rate jumped to over $41.00/SF, while vacancy climbed to 18.0%. The Austin market continues to see unprecedented development, with a full construction pipeline and 1.3 million square feet of construction starts in the third quarter of 2022. Annualized investment volume has decreased steadily over the year and was down 62.0% in the third quarter of 2022 at $320.8 million. Year to date, investment volume in the Austin market totals $1.66 billion. Healthy market
fundamentals and economic expansion should carry the Austin office market through the end of the year.

Rental Rates and Vacancy Climb to New Heights In the third quarter of 2022, rental rates continued to climb, and the overall rate posted $41.27/SF at the end of the quarter. Overall rates in the Austin market have increased by 3.6% year over year as landlords keep pace with demand and inflation. Both direct rates and sublease rates increased in the third quarter of 2022 to $42.19/SF and $35.20/SF, respectively. The average price discount for sublease space stands at 16.5%. Vacancy accelerated to 18.0%, fueled by construction deliveries and sublease space added to the market in the third quarter of 2022. Vacancy is likely to increase further as additional space delivers by year-end. The Class A market, which consists of more than 50% of the region’s building stock, had moderate changes in vacancy and availability quarter over quarter. Vacancy in the asset class rose 130 basis points to 17.2%, while availability also increased 130 basis points to 27.5%. Absorption remained positive in the third quarter of 2022, with a healthy 434,932 square feet taken up by occupiers. Click to read more at www.nmrk.com.

Not as flashy as other sectors, but life science mustn’t be overlooked when considering new opportunities. The sector has continued to gain traction in recent years, and Chicago has been highlighted as one of the best markets for this kind of venture.

Despite turmoil in the public markets, a slowdown in VC funding and volatility in interest rates, Chicago remains well-positioned for future growth, according to a recent report by Newmark.

Still an emerging life science market compared to others across the U.S., Chicago is home to 11 research universities and several hospital systems as well as pharmaceutical and medical device companies including Abbott Labs, Abbvie, Baxter, Hospira (Pfizer), Tempus, Akorn, Fresenius Kabi, Astellas Pharma, and Horizon Therapeutics.

Leasing has remained strong throughout 2022, based on the report, and many tenants have expanded existing leases like Portal Innovations, a life science investment and incubation company, or signed new ones. And a major plus? Challenges that continue to affect tenant demand for conventional office do not exist for laboratory product—life science landlords can rely on research and development being done onsite and not remotely.

And with new leases comes more jobs. Life science job growth in Chicago continues to be strong, with the number of data and medical scientist roles increasing the most. In fact, Newmark said the number of recent graduate degrees being earned for biological and biomedical sciences has doubled in the last 15 years.

Market Stats:

Market Size: 1,527,910 SF
Rent: $35-$60 PSF
Vacancy Rate: 12%
Under Construction: 543,454 SF
Proposed: 1,950,000 SF
1H22 Venture Capital Funding: $326M
12-Month Sales Volume: $131M
Compared to Texas, another major player in the sector, Chicago sits just below Austin in terms of market size, 1.5 million square feet versus 1.6 million square feet, respectively.

Austin’s market has continued to benefit from demographic tailwinds, based on the report, with life science employment expanding nearly 74% in the last few years and expected to grow at 6.5% through 2025. Life science VC funding for healthcare and life science companies has also reportedly increased 47.8% year-over-year in 1H2022, making it among the top performing cluster markets.

The Innovation District seems to be the heartbeat the area’s sector, along with the Dell Medical School at the University of Texas at Austin. Recent developments include Parmer Labs, delivering 100,000 square feet of lab and office space in 2023, as well as the conversion of the Highland Mall into the ACC Bioscience Incubator.

To widen the lens even further, Chicago and Austin, though growing rapidly, have significantly smaller markets when compared to Houston’s 8,034,643 square feet, Philadelphia’s 11,685,611 square feet, or Maryland’s 17,259,502 square feet. The same, too, could be said for Boston, San Francisco, San Diego and Raleigh/Durham—the largest life science markets in the U.S, making up over 93 million square feet of GMP space with a future construction and renovation pipeline of 33.2 million square feet.

FORT WORTH, TEXAS – Oct. 20, 2022 – With assistance from Stream Realty Partners and Stan Johnson Company, Empire Holdings has sold a nine-building national industrial portfolio to Philadelphia-based Arden Group, a leading U.S. middle-market real estate fund manager.

Arden Group purchased the approximately 350,000-square-foot, single-tenant portfolio that includes assets across five states. Ranging from 16,000 square feet to 150,000 square feet, the properties are strategically located in major industrial markets with low building coverage and boast outside storage or excess land with opportunities for future growth or expansion. Stream Executive Managing Director and Partner Seth Koschak and Vice President of the Fort Worth Industrial division Jeff Rein represented the seller in the transaction. The national real estate services, development, and investment company is based in Texas, where five of the nine warehouses are located. In addition, Zach Harris and Jeff Hughes of Stan Johnson Company partnered with Stream to co-represent the seller in the transaction.

“After an extensive evaluation of the nation’s top brokerage teams to assist with this sales process, we selected Stream Realty and Stan Johnson Company as our trusted partners,” said Bowie Holland, president of Empire Holdings. “We were particularly impressed with their substantial due diligence on our portfolio and the innovative marketing strategies they brought to the table. We look forward to many more collaborations in the future.”

The deal included eight freestanding net-leased industrial buildings in the Texas markets of Dallas-Fort Worth, Houston, Austin, and San Antonio as well as Fort Lauderdale, Florida; Memphis, Tennessee; Atlanta, Georgia; and Tulsa, Oklahoma. A speculative industrial building in Houston that just completed construction also was part of the transaction.

“With the supply of available IOS properties becoming more limited, this portfolio represented a unique opportunity to acquire stabilized outside storage assets throughout strategic markets nationally,” Rein said. “Empire Holdings is an experienced operator, which is reflected throughout the portfolio with well-maintained buildings and above-standard finishes. We are excited to have identified a partner in Arden Group with their growing presence and focus within the IOS / ISF sector.”

Buildings in more than two-thirds of the portfolio were built between 1999 and now. All offer stable tenancy in their respective markets.

“This portfolio acquisition is part of our investment focus on Industrial Service Facilities (ISF), including industrial outdoor storage sites, truck terminals, trailer parking and last mile port facilities in core U.S. markets,” said Christian Vergilio, Director of Acquisitions for Arden Logistics Parks.

Arden recently formed a $1B Joint Venture specifically focused on acquiring ISFs, or low site coverage industrial assets, situated in dense, infill locations. “The Empire Portfolio is emblematic of the types of partnerships we are looking to form with users in the ISF space and we look forward to continuing the relationship with the team,” Vergilio noted. Koschak, along with Executive Managing Director and Partner Matteson Hamilton, helped Stream expand its national platform in February 2022 by launching an Industrial Capital Markets division beginning in Texas. The service centralizes the investment sale process for transactions such as the Empire Holdings deal to create

opportunity and value for the firm’s clients. The group specializes in investment sales and acquisitions, equity and fund placement, debt placement, and other services that provide real-time market data and trend analysis.

About Stream Realty Partners

Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,100 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

About Arden Group

Arden Group is a privately held, vertically integrated real estate company and private fund manager focused on acquiring, developing, and managing industrial, hotels, office, multi-family and student housing real estate assets in the top 25 U.S. MSAs and dynamic growth markets. Founded in 1989, Arden has acquired $7 billion of properties and asset managed $12 billion of commercial real estate assets. Arden Group is headquartered in Philadelphia, with 10 offices including New York, Boston, Tampa, Miami, Dallas, and Newport Beach. Arden’s fund management platform has been consistently ranked globally as a top performing Private Real Estate Fund Manager by both Cambridge Associates and Preqin including Preqin’s #1 global ranking in 2017, 2018 and 2019. For more information, visit www.ardengroup.com.

About Empire Holdings

Empire Holdings is a commercial real estate developer that specializes in single-tenant, build-to-suit industrial properties with design, technology, and innovation at the forefront. Backed by a powerhouse team led by 40-year commercial real estate industry vet Sandra McGlothin, Empire Holdings is changing the way commercial industrial spaces are built. Together, the team has already led Empire Holdings to acquire and develop more than 100 properties spanning 1.1 million square feet across five states, with a primary focus on Texas.

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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033