Midtown and the Central corridor in Phoenix continues to add more value to the midtown urban community growth. SVN Desert Commercial‘s director of retail leasing and sales investments, Rommie Mojahed, and associate advisor, Lindsey Dulle, closed the sale of the Duke Photography building, one of the most iconic and memorable buildings in Phoenix, for $2,000,000.
The property is known to many high schoolers in the valley. Duke Photography was home to senior and family portraits. The property is located at 2810 N 7th Ave. The 9,500 square-foot building played a big part of history with over 60 years of experience. Owner Charles Duke with Duke Real Estate Holdings, LLC sold to local investor, Aaron Klusman with Klusman Family Holdings, LLC. “The building will always be known for the history and memories it brought to the valley for decades. I look forward to what is to come in 2021 with the new owners,” said Rommie Mojahed.
The property more than exceeded the buyer’s expectations on the price which set a comp in the neighborhood near 7th Ave & Thomas Rd at $210/SF. Mojahed and his team of retail advisors cover the entire Metro area. Beau Flahart plays a big role with the shopping center investment properties, along with Eddie Gonzalez who knows the central Phoenix corridor very well, as a Phoenix native to the same area. They all contribute to the various areas with tenant and landlord representation. The 2020 Top Retail Broker of AZ Business Leaders magazine and his team have closed more than $500M in sales & lease transactions over the last decade. Mojahed and Dulle represented both parties in the final transaction with SVN Desert Commercial Advisors.