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

Northsight Village retail center sells for $3M in Scottsdale

Phoenix, Arizona – June 22, 2020 – SVN Desert Commercial Advisors is a comprehensive commercial real estate brokerage serving clients, investors and developers all over the valley.  Just this week, the Retail Advisory Group closed on the sale of 14870 N Northsight Blvd for a purchase price of $3,000,000 to a 1031 exchange buyer.

Northsight Village, Scottsdale Arizona

Northsight Village, Scottsdale Arizona

SVN Advisors Kevin Weller, Mary Nollenberger and Nicole Ridberg represented the seller in the transaction. Northsight Village is located at 14870 N. Northsight Blvd. off of Raintree Dr. and Northsight Blvd.  The 18,236 square foot retail center was purchased by Newbury Park Investments, LLC.   Even in this uncertain time, there were several interested buyers for the value-add retail asset during its short duration on the market.  “We were pleased to close this transaction for Arcus Capital after actively marketing the property for less than 45 days,” said Associate Advisor Kevin Weller.

 

The seller, Andrew Martin with ARCUS Private Capital Solutions benefited from the sale, closing 30 days early. Andrew stated that he, “was impressed with SVN’s efforts and success” in marketing the property and bringing it to a successful close.  It became clear to the advisors that there is still a large amount of demand for property in the North Scottsdale submarket.  Weller stated, “I believe it shows the strength of the Phoenix market, even in these challenging times.”

 

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.

###

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

Melissa Swader

Your Turn To Talk

Your email address will not be published.