Phoenix, Arizona – SVN Desert Commercial Advisors is known for their full service brokerage offering commercial real estate services in most property types, however 2017 has been quite a change for SVN since land owners are in a hurry in putting their property up for sale. Director of Leasing and Sale Investments, Rommie Mojahed is one of most notable retail advisors in the valley that specializes in pre-leasing, leasing, sales investments and lately, land research and acquisition for development opportunities.
Mojahed currently has over half of the 30 active land listings at SVN in Phoenix. His client properties are located all over the valley, including Surprise, Phoenix, Mesa, Chandler, Apache Junction, Queen Creek and as far as San Tan Valley. Mojahed stated, “We are seeing developer’s purchase land valley wide. It is a perfect time to test the market.” The Shoppes at Chandler Heights is a great example of the potential of getting a great buyer in to change the dynamics of the area. The new owner renamed the property to Chandler Crossings, which includes Alamo Cinema Draft House, Blue 32, East Valley School of Music and so much more. Greenway Marketplace in Surprise was just a few parcels of dirt and now a fully constructed retail building with Dairy Queen, Mathnasium, Jenny Craig with a couple more tenants to fill.
Rommie Mojahed has worked with the City of Chandler Economic Developers for years. “Economic developers like to see that the developers provide a project that is designed well, benefits the community and is planned with a long term vision,” said Mojahed. SVN advisor, Beau Flahart is working with Mojahed on several of these land sales in the east valley.
The scarcity of the land opportunities in Tempe is evident. Instead of growing out, Tempe’s growth is building up. High rise office buildings and multifamily properties are showing a vast amount of growth because there is not much land left in the area. SVN advisor, Paul Borgesen III and Justin Horwitz were recently recognized for their prime land sale off Central Avenue & Indian School Rd. which went into double-escrow the same day. “We are seeing a rush of buyers who are looking in the downtown areas,” said Borgesen III. “The urban infill is the hot new product type and land owners know it is the right time to sell because of the high demand.”
Are developers looking to build assisted living facilities, hotels, retail entertainment centers, and medical offices? Yes! Senior advisor Judy Jones just sold land in Avondale to TransEquity Development, Inc. who is now under construction to build a $38 million assisted living and memory care facility. In short, SVN has a long list of land sales and more land opportunities to prove it.