Phoenix, Arizona –  SVN Desert Commercial Advisors has been an instrumental part of the economic development in downtown/midtown Phoenix.  Advisors, Justin Horwitz and Paul Borgesen III, often relied on as experts of the Downtown Phoenix submarket, have facilitated yet another transaction representing Fore Properties in the acquisition of the former O’Neil Printing building for $9,325,000.

The property is located at 366 N 2^nd Ave. (the SEC of 2^nd Ave & Fillmore St.), a significant site in the heart of Downtown Phoenix’s Opportunity Zone. This property consists of approximately 2.56 acres of land with three sides of street frontage.  Development plans for the call for a high-end mixed-use development consisting of seven stories, 323 apartment units, and ground floor retail and restaurant space in a project totaling approximately 285,000 SF. The community will feature a combination of studios, 1 bedroom and 2-bedroom units as well as a rooftop deck with views of downtown Phoenix, a pool, and fitness center.

Fore Property plans to start construction in the first quarter of 2020 with a target completion of mid-2022.  This transaction marks the 11^th Downtown Phoenix sale in 2019 by Justin Horwitz and Paul Borgesen.  “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. is really starting to gain momentum,” states Horwitiz. Borgesen adds, “This planned development by Fore along with other in the immediate area will offer yet another unique experience in the submarket.”

The property is proximate to Downtown’s central business district and several large educational and research institutions, including Arizona State University’s Downtown campus, Phoenix Biomedical Campus, and the University of Arizona School of Medicine. The project also benefits from access to retail and entertainment amenities, including Downtown’s restaurants and multiple sporting and theater venues, as well as and convenient transit accessibility with a Metro Light Rail station located one block from the site.

GILBERT, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dairy Queen, a 3,200-square-foot triple-net-leased property located in Gilbert, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,650,000 ($828 PSF).

Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer completed a 1031 exchange.

Dairy Queen is located at 2770 South Santan Village Parkway just south of East Williams Field Road in Gilbert, Arizona. The 3,200-square-foot property was recently built in 2018 on a 1.41-acre lot. It is ideally located near multiple grocery stores such as Costco, Sam’s Club, Sprouts and Natural Grocers as well as large retailers including Walmart Supercenter, Big Lots, Old Navy, Dick’s Sporting Goods, Barnes & Noble and Best Buy. Restaurants in the immediate area include McDonald’s, Panera, Chick-fil-A, In-N-Out Burger, Starbucks, and more.

PHOENIX, ARIZONA – With more than 20 years of combined experience in the Valley, local minority business people Samantha Root and Vince Ortiz have collaborated to launch Lujo Commercial Cleaning.

The new company, located at 2801 E. Camelback Road, Suite 230, in Phoenix, will provide full-service commercial cleaning. Services include power washing, commercial floor care (carpet and solid floors), window washing, commercial evening and/or daytime cleaning, medical office cleaning, day porter service, detail cleaning projects and construction cleanup.

“We have designed a commercial cleaning company that has woven its principals and values into every single thing that has our name on it,” said Root, who hold the title of co-owner. “We are intentional in everything we do, making it a point to live our values in and out of the commercial cleaning industry.”

Root, who has more 18 years of marketing and sales experience, previously worked for a commercial cleaning company. It catered to a diverse commercial market. Root is active among local Root holds real estate licenses in Arizona and Texas, of which she is a native. She is a resident of Peoria and the mother of five children. She and her husband have been married for 12 years.

Ortiz, also co-owner, possesses more than 32 years of experience in commercial cleaning services. He served as a regional manager for a national commercial cleaning company overseeing its operations. A resident of Goodyear, Ortiz is a native of San Diego. He has five children.

For more information, contact Root at (623) 341-5379.