Cashen Realty Advisors announces the sale of 5509 W. 7th Street, Phoenix, Arizona (former site of the Fiesta Village Nursing Home). The Purchase Price was $1,200,000. The Buyer in the transaction was LGE Design Build, Principal, David E. Sellers (480-966-4001). The Seller in the transaction was LCP Equity Partners, Principal, Mark Panattoni (916-802-5577).
LGE has entered into a Joint Venture on the adjacent property located at 5536-5540 N. 7th Street with Owner, Terry Brodkin, Terry B. Brodkin & Associates (480-874-8697). The Brodkin property is 14,850 s.f. LGE will redevelop the two properties with a total of 22,498 s.f. for restaurants and retail space. Grand Opening expected to be November 2014.