Phoenix, Arizona – Downtown Phoenix has been a trending and thriving commercial real estate market for over the last several months for SVN Desert Commercial Advisors who have closed over two dozen properties in the downtown Phoenix area over the last couple of years.  For advisors, Justin Horwitz and Paul Borgesen III, the land sale off 4^th Ave just north of Van Buren marks a celebratory 10^th sale in the downtown Phoenix area in 2019 alone.

The SVN advisors have been recognized for their expert knowledge in the DT Phx submarkets, closing on several properties around the Roosevelt Row Arts District, notoriously recognized for their advocacy in arts, community culture, and artists who cultivate arts experience.  Surrounded by the trending retail and restaurant industry that is being revitalized downtown, the advisors have their hands invested into the economic development still growing today.

The land owner, 4^th Ave. Dev. 1 LLC sold to Rastegar Property Company (RPC N 4^th, LLC) out of Austin, Texas.  They make its entry into the downtown Phoenix market with its acquisition of a ±0.62 site on 4^th Ave. between Fillmore and Van Buren.  The property address from 326 – 338 N. 4^th Avenue sold for $2,310,000 or $86.06/Land SF.  Justin Horwitz stated, “We are extremely excited about the plans for this site.  Roosevelt Row has been capturing a lot of attention in the downtown submarket, but this particular pocket west of Central Ave. along Van Buren is really starting to gain momentum.”

Rastegar is still in the early stages of the design process, but preliminary plans call for a large scale mixed used development consisting of high-end residential apartments along with ground floor retail amenities.  SVN advisors represented the seller, Glasir Capital Partners (4^th Ave Dev 1, LLC) in the disposition of this first of two development sites in this corridor.  The second site is still remaining for sale situated just across the street from the subject property. This ±0.52 AC parcel is still available for $1,965,720 ($88/Land SF).

Horwitz said, “This planned development by Rastegar along with the others in the immediate area will offer yet another unique experience in downtown Phoenix.”  Both sites are located in a highly desirable area and Opportunity Zone and offer “DTC” zoning with highly flexible entitlements for an upscale high rise development to complement the surrounding area.

TUCSON, Arizona – Russ Lyon Sotheby’s International Realty — Arizona’s leader in luxury real estate — is excited to announce Judy Smedes and Kate Herk, a top-performing team, have joined the Tucson office.

Smedes and Herk — a mother-daughter team — have moved to Russ Lyon Sotheby’s International Realty’s from a competing brokerage. The duo did an impressive $23.5 million in transactions via 49 sales in 2018. Judy Smedes has been a licensed agent in the Tucson market for 30 years. Her daughter, Kate Herk, has been a licensed agent for the last 15 years.

“We are thrilled to have Judy Smedes and Kate Herk join our team. They are a dynamic and top performing team in the Tucson market and add to our already strong roster of agents. Their move is testament to the exceptional service we provide clients throughout Arizona,” said Todd Gillenwater, CEO and owner of Russ Lyon Sotheby’s International Realty.

Russ Lyon Sotheby’s International Realty has 79 agents in Tucson and more than 850 across Arizona.

“As real estate professionals, we understand buying and selling a home is so much more than just a transaction. It’s a life-changing experience. That is why we dedicate exceptional and personalized service to all our clients. We see that level of dedication and service at Russ Lyon Sotheby’s International Realty,” Judy Smedes said.

Smedes has been a full-time, active real estate agent since 1988 and has sold some of the highest-priced homes in Tucson.

“I have been working alongside my mom as a Realtor for the past 15 years. We specialize in delivering innovative marketing plans for our listings including drone videos, professional photography and social media advertising. For our buyers, we focus on finding them properties before they hit the market through our extensive network of real estate colleagues,” Kate Herk said.

New Sonoran Medical Center will serve growing health and wellness needs of north Phoenix and Anthem residents

PHOENIX, Ariz. – HonorHealth, a leading Valley healthcare system serving an area of 1.6 million people, brought together staff and community members today to celebrate the topping out of its sixth Valley hospital located at Interstate 17 and Dove Valley Road in north Phoenix.

Dozens of people attended the event commemorating the last major milestone before construction on the three-story hospital is complete.

“Today marks another step forward in HonorHealth’s century-long legacy of improving the health and well-being of patients in our communities,” said HonorHealth CEO Todd LaPorte. “With the opening of this new hospital, we are able to extend our reach and provide North Phoenix and Anthem residents with access to award-winning, comprehensive care that’s close to home.”

Once complete, the new 210,000-square-foot HonorHealth Sonoran Medical Center will feature an inpatient hospital offering 40 beds, with the ability to expand to nearly 80 beds, based on the needs of the community. The facility will also feature a new 24-hour emergency center for patients of all ages, minimally invasive orthopedic and spine services, a state-of-the-art surgical unit, and comprehensive obstetrical and gynecological care with labor delivery services and a Level II neonatal intensive care unit.

The existing Sonoran Health and Emergency Center, which serves 17,000 patients annually, will become an outpatient center that includes a Breast Health Center, medical imaging services and space for future expansion. In addition, a new ambulatory surgery center on the campus will offer cost-effective, same-day surgical services and will house obstetric, pediatric, orthopedic and general surgery physician offices.

Slated to open in September 2020, the HonorHealth Sonoran Medical Center represents an investment of $170 million in the community. Once complete in late 2020, the new facility is expected to bring 200 jobs to the Valley in the first year.