350-001 70-411 MB2-700 400-101 MB2-702 70-410 MB2-703 200-120 70-461 C_TADM51_731 70-462 EX300 VCP-550 70-480 C_TAW12_731 70-484 70-498 70-646 98-361 98-366 A30-327 C_BOE_30 C_TSCM42_66 C2010-597 C2020-632 C2020-701 C2020-703 C2040-408 C2040-988 C2070-581 C2150-195 C2160-667 C2180-274 C4040-226 C4090-453 CAS-001 CSSLP C-TERP10-60 E20-018 E20-918 JN0-360 MSC-321 P2080-088 PC0-001 PEGACSA-v6.2 3I0-012 500-051 640-875 640-916 642-427 642-647 642-691 650-663 700-037 70-247

SVN’s Downtown Experts Close $1.6 million in Phoenix

Phoenix, Arizona – August 14, 2018 – With the Arizona sun, sports arenas, shopping, dining, entertainment and the Roosevelt Row arts district, no wonder why Downtown Phoenix is booming.  New and established companies are flocking to grow and expand their businesses into the trending corridor where plush hotels and educational facilities surround the buildings alike. SVN Desert Commercial Advisors, Justin Horwitz and Paul Borgesen III are two brokers in the downtown Phoenix area that are integral part of the growth.

Just recently, the dynamic downtown expert team closed on two properties within a few miles of each other from downtown Phoenix to the central Phoenix corridor.  The 7,156 SF property located at 714 N. 3rd Street sold for $800,000 just south of the Roosevelt Row Arts District in downtown.  SVN represented the sellers in the transaction.  After owning this and many other properties in the downtown area for generations, the Matz family elected to begin the process of liquidating its holdings.  Horwitz stated, “We are so excited to see this building particularly sell to such a solid buyer.”  Local business owner, Mike Little worked hand in hand with the seller to acquire the property.  Little plans to move his own business into the building while also continuing to offer rental space to the community.  “It’s nice to know it’s in equally as good of hands moving forward,” said Horwitz.

3130 N. 3rd Ave. Phoenix AZ

Just right up the street off 3rd Ave, is another sale for $860,000.  The property is located at 3130 N. 3rd Ave. in Phoenix right on the backside of Park Central Mall.  Horwitz and Borgesen III also represented the seller in the sale transaction.  Seller 3130 North Third Ave, a joint venture and the buyer, Nogachi, LLC is excited to come in and make some immediate changes.  The husband and wife team owns a CPA and law firm respectively. Ruger and Magaly Fontes plans to renovate the 8,668 SF building and occupy a portion while leasing back a small portion of the building to the seller who also has an existing law firm.

Horwitz stated, “We are really looking forward to seeing this building post renovation and to watch that immediate area blossom with everything planned at Park Central Mall across the street.”  Park Central Mall was once a retail jewel in the desert and in the process of a $57 million project to revitalize the property.  With all the mixed-use projects with restaurants, office and other amenities, this will location will add value to the development in the area.

SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.

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Media Contact: Melissa Swader
melissa.swader@svn.com

Melissa Swader

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