Desert Commercial Advisors announce August sales and lease transactions

Above: Village Grove Plaza was sold for $7,000,000. (Photo courtesy of Desert Commercial Advisors) Real Estate | 16 Sep, 2016 |

Desert Commercial Advisors continue to prove that retail and office are still thriving in today’s Arizona market. Directors of Retail Leasing and Investment Sales, Rommie Mojahed and Mary Nollenberger have focused on the economic development of Chandler and Surprise, Arizona. The team has been instrumental in lease transactions for the upscale entertainment center at Chandler Crossings in Chandler and working with the owners of Dairy Queen to expand into Surprise.

The $7,000,000 sale of Village Grove off McKellips Road in Mesa is another shopping plaza that will be bringing in a mix-use of tenants.  Advisors, Beau Flahart, Mojahed and Nollenberger were all involved with the transaction at the beginning of August.  In addition to the retail deals, the SVN Office team was also in full swing with over $2 million in deals in August alone.

Leases

Justin Horwitz and Paul Borgesen III leased 1,428 square-feet of office space to Statim Biomedical.  The property is in the Camelhead Business Center located at 2600 N. 44th St.  The landlord Weksker 2600, LLC was represented by SVN advisors with Desert Commercial Advisors in the lease transaction.

Sales

Beau Flahart, Rommie Mojahed and Mary Nollenberger sold Village Grove Plaza in Mesa for $7,000,000. The shopping plaza makes up a total of 82,373 square feet.  The property is located at 2029 E. McKellips Rd. in Mesa.  SVN advisors represented the buyer, Zach Bonsall with Cole Valley Partners, LLC from Portland, Oregon in the transaction.  The seller, Village Grove Plaza Realty, LLC is from Northridge, CA.  Kristina Gooding from Thomas Title handled the transaction.

Beau Flahart sold 11,257 square-feet of another shopping plaza for $2,500,000 to G2K2, LLC in Scottsdale. Red Mountain Plaza is located at 1152 N. Power Road in Mesa.  SVN advisor, Flahart represented the seller, 8350 East Evans LLC in the sale. Jim Balsbaugh with Stewart Title Agency, Inc. handled the transaction.

Paul Borgesen III and Justin Horwitz represented the buyer in a recent land sale transaction.  SVN client purchased the land for $285,000 for 0.56 acres.  The vacant land is located at 4818 N. 12th St. right across 12th street from the Courtesy Chevrolet car dealership and behind Chapman BMW on Camelback Rd.

Paul Borgesen III and Justin Horwitz sold 5,000 square feet of space to a fitness owner who will be opening a new training facility in North Phoenix.  This location right off the 51 Freeway and Bell Rd. sold for $1,150,000 to owner and operator, Seth Thurston (LLC).  The property is located at 3614 E. Bell Rd. in Phoenix.  SVN advisors represented the seller, AZ Bell Rd, LLC in the sale transaction handled by Robin Mouser with Chicago Title Agency.

Paul Borgesen III and Justin Horwitz represented the buyer in a recent land sale for $425,000.  The 3.41 acres of land is located nearby two golf courses in Mesa.  The property is located at 2736 S. Sossaman Rd. Buyer Parpart Real Estate, LLC and Seller Sossy, LLC are located in the east valley. The land sale transaction was handled by Destiney Fletcher with Chicago Title Agency.

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