PHOENIX, ARIZONA – NAI Horizon Senior Vice President John Filli represented the seller in negotiating the $1.035 million investment-related sale of an office-retail complex in Gilbert, Arizona.
The property was listed with Global Financial & Trading LLC, of Scottsdale, an Arizona limited liability company from May 27, 2015, through March 6, 2020 (close of escrow).
The asset at 788 and 746 W. Guadalupe Road comprises two, identical 5,154-square-foot buildings totaling 10,308-square-feet The gray shell complex, which was built in 2006, was never occupied and foreclosed upon by the lender in 2014.
It is surrounded by great demographics and sits on approximately .9056 acres at the NEC of Cooper and Guadalupe in Gilbert. It features nine covered and 21 surface parking spots.
“Even though it took much longer than normal to sell the property – 5 years to be exact – I enjoyed dealing with and resolving the many challenges that this particular listing assignment had to offer,” Filli said. “Some of the challenges included taking several years to achieve a seller-approved and justifiable asking sale price and weathering nine months of accessibility issues resulting from the modifications and improvements to the intersection of Cooper and Guadalupe roads.
“As I look back on this experience, I am reminded of the following words appearing on a billboard sign in northern Arizona: ‘Spur no faster than you can ride,’ ” Filli said.
The buyer, WNDG LLC, of Scottsdale, an Arizona limited liability company, was represented by Julie Harris and Jennifer Hill of Diversified Partners LLC.