PHOENIX, AZ - Capital Asset Management, Phoenix, announced today the successful sale of a 3-property portfolio sale comprised of The Horizon Ridge Shopping Center 1651 N Horizon Ridge Henderson, Nev., the Gibson Road Shopping Center 193 Gibson Rd Henderson, Nev., and the Lower Buckeye Plaza Shopping Center 8240 W Lower Buckeye Rd Buckeye, Ariz. totaling 35,035-square-feet on 3.90 acres. The deal was brokered by Jason Hersker, Stephen Herman, Scott Smith, and Rachael Cisco of Capital Asset Management.
The buyer is Diversified Business Strategies, LLC, a Utah limited liability Company and the seller is 2010-1 RADC/CADC Property IV, LLC a Delaware limited liability company, formed by Cohen Financial. After having acquired these assets on February 25th 2014, Cohen Financial hired Capital Asset Management for their ability to work with complex assets and create value. In this case, Capital Asset Management worked to solidify the tenant mix in each center and to identify any operational inefficiencies prior to preparing the assets for sale.
“Selling multiple retail properties in different states is very difficult. With Capital Asset Management it was very simple and the closing occurred without delays,” said seller Chris Martin, Senior Asset Manager Cohen Financial.