Owner/Occupied Office Building off Northern Ave. Sells for $700K in Phoenix

SVN Desert Commercial Advisors has closed over a dozen properties between Glendale and Northern roads over the years.  With SR-51 and I-17 freeways being located near these populated areas, the market for street view locations has its advantages.

This particular property located off 28th Street & Northern Ave., just 4 miles away from Paradise Valley Mall, sold for $702,700 to MMA & M Enterprises, LLC.

The seller, Horizon Insurance Group, Inc. was represented by SVN advisors, Jonathan Levy and Justin Horwitz. The buyer was represented by Greg Thielen and John Asher of AT Real Estate Services. The garden style office building is located at 2880 E. Northern Ave., which is just off the frontage road on the west side of SR-51 freeway just south of 32nd street. The property consists of a freestanding 5,517 square-foot office building with a courtyard garden in the center.

 

The buyer MMA& M Enterprises, LLC plans to occupy the building. The transaction was structured on a short term leaseback with the seller until the end of January 2018. “This was a great opportunity for the new buyer to own and occupy a quality building in a strong Phoenix submarket,” stated Jonathan Levy. The area has a strong demographic relative to the Phoenix metro area.

 

SVN added, “the seller will be able to utilize the sale proceeds for their own relocations efforts in an area which best suits their business and demographics.”

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

nineteen + 19 =