Phoenix, Arizona – Downtown Phoenix is home to a vibrant business and entertainment district with shopping at the CityScape Phoenix complex and art galleries on Roosevelt Row.  SVN DesertCommercial Advisors in Phoenix is one of the largest commercial real estate brokerages that make a strong presence in the downtown and central Phoenix corridor.  Advisors, Justin Horwtiz and Paul Borgesen III have continued to provide opportunities to real estate investors who have gravitated to the growing development of downtown.

In the last few weeks, Horwitz and Borgesen III have closed more than $5.6 million in sales, including 2 properties in downtown Phoenix and a stable ST NNN investment sale in Ajo, Arizona. A recent sale located at 207 E. Clarendon Avenue in Phoenix sold for $3,000,000.  After walking the property with the Seller, SVN agents Justin Horwitz and Paul Borgesen were immediately impressed with the unique quality of the asset and its history. Previous owners include the FBI and Bulletproof Securities, a private security company. As one can imagine, this building has become highly secure facility fully equipped with block construction, bulletproof entry and interior walls, key card access systems, a back-up generator, walk-in vaults. Additionally, the most recent owner had fully renovated the facility in 2015 with all new bathrooms, showers, break rooms, custom furniture that was acquired as part of the sale, and fiber connectivity. This property is easily one of a kind in the Midtown Phoenix market with its combination of high end office space with warehouse space consisting of three 14′ high roll up doors with 18′ of ceiling height. SVN Advisors, Horwitz and Borgesen represented the buyer.  Colliers International advisor, John Barnes represented the seller in this transaction.

“We are always excited to take part in a deal in the Central Corridor where we do the majority of our business, but this one was particularly meaningful. The building was so unique and our client will be such a perfect fit in the building. There really is no other building like this in the Central Corridor,” said Justin Horwitz.

The land sale in downtown Phoenix, located at 800 N. 1^st St. is just south of the Roosevelt Row district and just north of the Arizona State University Downtown Campus off N. Central Ave. SVN Advisors represented the seller, Terry LaLonde with Terrence E.Lalonde Family Trust in the transaction for $740,000.  The buyer, Stu Siefer with 526 Mill, LLC purchased this as an investment and has intentions to build at a later time.

Lastly, SVN advisors were responsible for the sale of the Family Dollar that sold for $971,500 in Ajo, Arizona.  They represented sellers, Matthews and Honey Money-Collins out of San Francisco, CA.  The escrow period was only 42 days and was handled by Susan Bush with Chicago Title. The sale was a result of a 1031 exchange buyer with a  5+ years remaining on term and a 7.00% CAP rate.

Managing Director, Perry Laufenberg stated, “Justin and Paul have unsurpassed market knowledge in Downtown Phoenix, and provide incredible value to their clients by keeping them informed on real estate activity in that dynamic market.”

To learn more, see RED Comp #5576.

Phoenix, Arizona – The Sperry Van Ness (SVN) Phoenix location is hitting it out of the ballpark lately. The last sixty days have been the commercial real estate playoffs for this team and several advisors made several strong plays to end up with a winning trophy.

September was action-packed month for the same seven advisors closing significant deals such as a $2.4 million lease deal to Practice Management Specialists in Mesa, AZ.  Directors of Leasing, Mary Nollenberger (Ridberg) and Rommie Mojahed negotiated the deal over a 5-year lease agreement and 16,380 square-feet.

If that wasn’t enough, the savvy retail team closed a very long awaited sale out in Chandler, AZ.  Ironically one year ago, the media acknowledged this retail property as one of Chandler’s “Eye-soars” of the valley, however with their dedication and persistence; this strong retail team who represented the buyer, Real Estate Opportunity Fund of Arizona, LLC and sold this property for $5,425,000. The seller, Jim Horvath with Town West Realty, Inc. was also represented by Sperry Van Ness. This cash close was the real deal and already 100K square-feet were in lease prior to closing escrow.  The Chandler Heights residents have something to look for to.  This soon to be upscale retail marketplace will be the place to go for all your shopping vices.

The Sperry Van Ness office team stepped up to the mound and contributed to the final score as well.  Senior Advisor Justin Horwtiz and Associate Advisors, Jonathan Levy, and Paul Borgesen III combined approximately 90K in square-feet and acres totaling almost $600K in sale and lease transactions within two weeks in September.

Since the retail and office teams hit a few deals out of the park, Vice President and multifamily investment specialist, Danny Lee soon answered with 2 more home runs closing two multifamily sales totaling over $2 million on the same exact day at the end of October.   Sierra West Apartments and Hayden Apartments were both individually metered properties and both had a high occupancy rate.  Among the other benefits to this investment, the separate owners were able to walk away with cash in hand to begin a new chapter.

It seems that the Sperry Van Ness teams were sure to close this win out and solidify their ranking among the best of the best Commercial Real Estate teams.  Advisor, Beau Flahart whose strong compassion for empowering his clients with retail market knowledge closed a significant retail deal at the end of October to secure the win.  Nollenberger and Mojahed represented the seller and Flahart represented the buyer, who purchased the $5,220,000 retail shopping plaza called the 8^th Ave Shops located at 810 S. Alma School Rd., in Mesa.  All three advisors worked together to make this deal happen.  This ± 86,444-square-foot grocery anchored shopping center as an off-market deal fell into place.  Although the property sold below market value due to a large tenant vacating during escrow, the new owners deem this shopping center and its location has revenue potential and still decided to purchase.

“Leaders aren’t born, they are made. And they are just like anything else, through hard work. And that’s the price we’ll have to pay to achieve that goal, or any goal.”  ~ Vince Lombardi

So we must once again congratulate Mary Nollenberger (Ridberg) for being selected by the Real Estate Forum magazine as one of the “Woman of Influence: Southwest” of 2015. Mart has been acknowledged as one of the most prominent female executives in commercial real estate today.

Sperry Van Ness, LLC is a full-service commercial real estate company that strives to be the best in this competitive commercial real estate industry.  Our advisors believe that true collaboration within the entire brokerage community is not just in the client’s best interest, but simply the right thing to do. That’s the SVN Difference.