Phoenix, AZ – Sperry Commercial, Insignia CRE closes the sale on an office/retail building off Black Canyon Highway. Senior Associate advisor, Adam Lam and his team represented the seller in the sale.
The property is located at 6050 N. Black Canyon Hwy in Phoenix. The lot size is .46 acre with a building size of 5,850 SF and sold for a little over $1M. The seller, Fermin Ramon Fentes with FF Investors, LLC is from Waddell and the buyer, Barbara Howard with TCH Property, LLC is from the north Phoenix area. The seller leased his property to a granite company that serviced residential real estate development.
The seller stated, “There were a lot of bumps in the road, but Adam Lam made it a smooth transaction to get it closed.” There was a time sensitive matter to get the tenants out of the building in time, so the seller also helped pay for all the heavy machinery, cranes and extra employees to help vacate the tenant on time.
Though it was the first CRE disposition for the seller, FF Investors LLC as residential contractors, they will be pursuing more investments specifically in commercial real estate.
Insignia CRE’s Associate Adam Lam stated, “Trust and relationship with the seller was a key factor in this transaction. We were able to guide and counsel the process while he was out of the country for a successful close.”
In fact, they had multiple offers and Lam was able to get above the asking price for the property due to the amount of interest in the property.
The buyer, Mark and Barbara Howard will be using the property for a pool supply warehouse. For other available properties, please contact Adam Lam at Sperry Commercial – Insignia CRE at [email protected].