Phoenix, Arizona – July 24, 2017 – The second quarter transactions proved that retail and office sales and leases are still consistent. With over $10 million in sale and lease transactions, SVN Desert Commercial Advisors is on pace to top last year’s transaction volume for the year. The Phoenix office had some significant deals this past quarter including the sale of the office flex space off 16th Street. The building was owned by Red Cup Living founder, Michael Romley who was in the press years ago when he first opened his doors. Not only did the office and retail do well, SVN also sold a multifamily property and a couple of land deals for new development.
SALES
Chip Kloppenburg has sold 126,760 square-feet of land to Ben Johnson with South 40th, LLC for $850,000. The land is located at 2812 S. 40th Street. The seller was represented by the SVN Phoenix office. Vicki Etherton with Landmark Title Assurance Agency of Arizona handled the sale transaction.
Jonathan Levy and Justin Horwitz have sold 1,730 square-feet to Hany Ashmalla for $155,000. The office property is located at 131 W. University Drive in Mesa. The seller, Edward Greer of JJG Properties, LLC, was represented by the SVN Phoenix office. Nohemi Velasco with Empire West Title Agency handled the sale transaction.
Paul Borgesen and Justin Horwitz have sold 1,218 square-feet of office space to Robert Nagle for $240,000. The property is located at 531 E. Osborn Road in Phoenix. The seller was represented by the SVN Phoenix office. Colleen Stout with First American Title handled the sale transaction.
Director of Sales and Leasing, Rommie Mojahed, sold 4,500 square-feet at McClintock Arbors for a total amount of $954,504. The retail property is located at 1300 N. McClintock Drive in Chandler. The seller, White Star Line, LLC was represented by the SVN Phoenix office. Vicki Bartlett with Security Title handled the sale transaction.
Justin Horwitz and Paul Borgesen have sold 6,300 square-feet to Thomas Castleberry of in the amount of $1,500,000. The 12-unit multifamily property is located at 821 N 3rd Street. The seller, Matt Moore with Marill Moore Studios, LLC was represented by SVN. Jason Privette with Premier Title Agency handled the sale transaction.
Rommie Mojahed, alongside Director of Retail Sales and Leasing, Mary Nollenberger, have sold 87,120 square-feet at Higley Village to Tuck Bettin of Papago Enterprises, LLC for a total amount of $1,650,000. The retail property is located at the southeast corner of Higley Road and Queen Creek Road in Gilbert. The SVN Phoenix office represented the seller in the transaction. Vicki Bartlett with Security Title handled the sale transaction.
Justin Horwitz and Paul Borgesen have sold 4,500 square-feet of multifamily property for $750,000. The 8-unit multifamily complex is located at 1009 N 1st Street in Phoenix. The SVN Phoenix office represented both the buyer and seller in the transaction. Robin Mouser with Chicago Title handled the transaction.
Carrick Sears represented buyer Gregory Leet in the purchase of 3,892 square-feet of multifamily property. The four unit property is located at 3313 W Harmont in Phoenix and was acquired for $270,000. Shannon Porter with Great American Title handled the transaction.
Paul Borgesen and Justin Horwitz have sold 1,300 square-feet of office space to Valerie Gutierrez for a total of $207,500. The property is located at 2713 N 7th Street in Phoenix. The seller was represented by the SVN Phoenix office. Elaine Nielsen with Chicago Title handled the sale transaction.
Justin Horwitz and Jonathan Levy have sold 1,500 square-feet of office space at the Brookside Bell Office Park for $235,000. The property is located at 15282 W Brookside Lane in Surprise. The seller, Sean Starner with Instant Properties, LLC, was represented by the SVN Phoenix office. Heidi Cerepanya with Stewart Title handled the sale transaction.
Rommie Mojahed, Paul Borgesen, and Justin Horwitz have sold 8,579 square-feet of office/flex warehouse space to Tom Drath for $985,000. The seller, Mike Romley, was represented by the SVN Phoenix office. The property is located at 3840 N. 16th Street in Phoenix. Neil Moffet with Security Title handled the sale transaction.
LEASES
Nicole Ridberg has leased 859 square-feet of office space at Green Gables Office Complex to SP Jedi. The space is located at 2345 E Thomas Road in Phoenix. The landlord, GRA-D Corp, was represented by the Desert Commercial Advisors in the lease transaction.
Rommie Mojahed and Beau Flahart have leased 2,000 square-feet at Village Grove Center to Starbucks Corp. The retail space is located at 1927 N. Gilbert Road in Mesa. The landlord, CVP-Village Grove, LLC, was represented by the SVN Phoenix office.
Jonathan Levy has leased 112 square-feet of office space at Executive Villas at Dana Point to Simpure. The office complex is located at 3303 E. Baseline Road in Gilbert. The landlord, Arizona Commercial Advisors, LLC, was represented by the SVN Phoenix office.
Justin Horwitz and Jonathan Levy have leased 979 square-feet of space at Ventura Gateway to Florence Management, LLC. The office space is located at 8687 E Via De Ventura in Scottsdale. The landlord, Ventura Management, LLC, was represented by the SVN Phoenix office.
Beau Flahart and Rommie Mojahed have leased 1,155 square-feet at 5540 E Broadway Road in Mesa. The suite in Broadway Plaza was leased to Barre Physique. The landlord, Gabriel G Saia, Jr. was represented by the SVN Phoenix office.
Justin Horwitz and Jonathan Levy have leased 4,918 square-feet of office space at 1760 E Pecos in Gilbert. The space was leased to New Direction Fertility Centers, LLC. The landlord, Rome Towers, LLC, was represented by SVN in the lease deal.
Mary Nollenberger and Rommie Mojahed have leased 4,132 square-feet of retail space to Q Nail Bar, LLC. The space is located at 9190 W Union Hills Drive in Peoria. The landlord was the represented by the Retail team with the SVN Phoenix office.
Jonathan Levy and Justin Horwitz have leased 1,472 square-feet to Summit Medical Weightloss Clinics. They both represented the landlord, 10240 Bell Road Associates, LLC in the transaction. The property is located at 10240 W Bell Road in Sun City.
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
