Phoenix, Arizona – Midtown and the Central corridor in Phoenix continues to add more value to the midtown urban community growth. Director of Retail Leasing & Sales Investments, Rommie Mojahed and Associate advisor, Lindsey Dulle close the sale of 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 & 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.

Phoenix, AZ – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $13,600,000 / $77,273 per Unit / $95.95 per SF sale of Bella Vista Townhomes, a 176-unit property at 3201 E Seneca Street in Tucson, AZ.

Built in 1972, Bella Vista Townhomes features an attractive mix of 40 one-bedroom units, 128 two-bedroom townhome-style units and 8 three-bedroom townhome-style units with large private patios in select units. Each unit is master metered for heating and cooling. Community amenities include leasing office, business center, three laundry facilities, dog park, children’s playground, basketball court, pool and barbecue areas.

Bella Vista Townhomes is situated just a short drive from the city’s primary employer and economic driver, The University of Arizona. The townhome community is also located near numerous shopping, dining, and entertainment options such as a Whole Foods Market, the Tucson Botanical Gardens, Reid Park Zoo, Randolph Dell Urich Golf Course and the El Con Shopping Center.

Alon Shnitzer, Senior Managing Partner at ABI who represented the buyer and seller states, “Bella Vista presented the buyer with a value-add opportunity to improve on unit interiors and common areas. In addition to the value-add component, the uniqueness of this property with a majority offering of townhome-style units drew in lots of interest during the marketing process.”

Ryan Kippes, Vice President at ABI who also represented the buyer and seller added, “The property features a prime location being so close to the University of Arizona, one of the largest universities in the nation, in addition to Sam Fox’s The Yard dining complex less than a mile away. All of this being in a market currently witnessing very high occupancy rates.”

ABI Multifamily’s Alon Shnitzer, Ryan Kippes, John Kobierowski, Rue Bax, Doug Lazovick and Eddie Chang represented the buyer and seller.

The buyer, APT Capital Group, led by managing partners Kyle Mitchell and Gary Lipsky, is based in California. The seller, The Wolcott Group LLC, is a private investment group based in Illinois.

ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions, with offices in Phoenix, Tucson, Sacramento and San Diego.

Company Expanding and Opening Ninth Substance Abuse Treatment Facility

Phoenix, Arizona– A behavioral health facility at 1200 N. 77th St. in Scottsdale has sold for $5.5 million. Crossroads, Inc. has purchased the property to expand its operations in the Greater Phoenix metro area.

“There were multiple buyers that had immediate interest in this rare Scottsdale behavioral health facility,” says Alexandra Loye of Colliers International in Arizona. “I was thrilled we were able secure the property and assist Crossroads in furthering their mission to provide much needed services to Arizonans.” This facility will serve as Crossroad’s ninth Valley inpatient facility.

Loye represented Crossroads, Inc. in the acquisition of the property. The seller was The New Foundation.

“The timing of this new project could not be more ideal as we continue to experience an increase in need for substance abuse treatment as a result of the pandemic,” said Crossroads Executive Director Lee Pioske. “Crossroads has been on the front lines, fighting both the opioid epidemic and COVID-19 and we are excited to add more boots on the ground as we expand and provide our life-saving programs and services to more recovering addicts across the Valley.”

The property, which is located near the intersection of Hayden and McDowell roads, is comprised of two buildings totaling 33,000 square feet. The buildings are situated on a 2.38-acre parcel.

“This property is strategically placed away from main streets, providing the perfect balance of privacy for the business and yet enough visibility for new clients to locate,” says Loye. The property offers a large, paved parking lot for employees and clients, as well as an ample common/recreational area with a beautiful green park behind the property. Built in 1974, the development offers close proximity to freeways.

Crossroads will be preparing the buildings for its unique uses and plans to open its new operations at the site in Summer 2021. Crossroads’ mission is “To provide high quality, affordable, comprehensive substance abuse treatment programs and services that promote recovery from alcoholism and drug addiction, personal growth, accountability, self-sufficiency, and healing.” To learn more about the program, visit https://thecrossroadsinc.org/about-us/.