Phoenix, Arizona – January 10, 2017 – It was an extraordinary year for Desert Commercial Advisors in Phoenix, AZ and SVN still has reason to toast to the New Year. One of the most nationally recognized retail development deal called, Chandler Crossings hit the headlines over more than 20 media outlets across the nation in 2016. So how can they top that in 2017? Only four days into the New Year, the SVN brokers have closed on a land sale in downtown Phoenix, closed on a multifamily sale in Tempe, finalized a retail lease with a well-known salon, and SVN brought in the first new sale listing of the year.
Office brokers, Justin Horwitz and Paul Borgesen III recently represented the seller, Luis Michale and Karla Lu in the 7,000 SF land sale at 813 N. 1st Street in Phoenix. The buyer, Barry Light with Light Development, LLC purchased the land for $420,000. The 7,000 SF lot is located just south of Roosevelt Row. SVN Advisor Justin Horwtiz stated, “This sale represents another sign of positive redevelopment in Downtown Phoenix.” While the new owners can’t release specifics at this time about the redevelopment, there will be immediate plans for an upscale concept that should be extremely well received by the community. Patti Graham with Fidelity National Title Agency handled the sale transaction this week.
Directors of Retail Sales & Leasing, Mary Nollenberger and Rommie Mojahed recently executed a lease deal for their client, Palette Collective. The new tenant will be moving into the Elliot Plaza located at 7720 S. Priest Rd. in Tempe, AZ. Other tenants include LA Fitness, Applebee’s, Pet Club, McDonald’s, The Tile Shop and Goodwill.
SVN’s multifamily team was also recognized last year with their $17M sale of Amber Gardens in Tempe. No surprise here that primary Associate Advisor, Alex Feria and his co-brokers, Chip Kloppenburg and Carrick Sears have sold a 4-plex in Tempe at 1333 W. 5th Street for $425,000. Less than a mile away is Arizona State University. Feria continues to focus on student housing investment opportunities all over the valley, while CCIM’s Kloppenburg and Sears are currently in the process of negotiating $10M deals.
One of the greatest investment opportunities you can find as a buyer is a property that is 100% occupied and already generating income. The newest listing with SVN is with advisors Rommie Mojahed and Beau Flahart as they team up in an effort to sell the office building suite located at 6859 E. Rembrandt Ave. in Mesa, AZ. The listing price is $425K. Only four days in, you can see that SVN focuses on taking care of their clients all year long, bar none.
SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.
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Media Contact: Melissa Swader
melissa.swader@svn.com
