Phoenix, Arizona – It is exciting to announce the sale of the previous Oink restaurant building in Tempe, AZ. The freestanding building recently sold for $1.8 million ($371 PSF) after falling out of escrow several times in 2020. Director of Leasing & Sales Investments, Rommie Mojahed and Associate advisor, Lindsey Dulle with SVN in Phoenix represented the seller in the transaction.
Mojahed and Dulle took this to market just before the pandemic and received a lot of traction right from the beginning. Just months into the pandemic, it started to slow way down. The sale even fell out of escrow a couple of times last year because the potential buyers had some roadblocks of their own.
SVN advisor, Lindsey Dulle stated, “I am excited for our client as this has been on the market through the pandemic and it’s great to see it get to the finish line.”
“This is a great area that is surrounded by residential communities so the new karate school should do very well,” said Mojahed.
The property is located at 1701 E. Warner Rd. in Tempe. The seller, Donald Baxla with Baxla Tempe Real Estate sold to Alfred Sandavol who will be repurposing the freestanding building into a multi-tenant use. Sandavol has a successful karate business and will be expanding in the Tempe area. The new owner also plans to lease out some of the 4,856-square-foot building to other tenants as well.