SVN Office Division Closes $1.3M in deal transactions to close out May

Desert Commercial Advisors office division in Phoenix has well over fifty active office listings either for sale or for lease. The office team is led by senior advisor Justin Horwitz, the 2016 AZRE Honorable Mention Red Award winner who is the lead broker on most of these listings. The summer continues to heat up with listings that are spread across the valley from the far Westside of Surprise to the far southeast valley of Queen Creek.

office pile

Central and downtown Phoenix listings, including the Biltmore corridor alone have over  69,000 in available square-footage to either purchase or lease. More and more developers are looking at downtown Phoenix to build urban residential and entertainment life unequivocally increasing the need for more commercial office space for banking, health care, university-based office centers, and other opportunities for small business owners.  The City of Phoenix has even made the public transportation much more suitable for an easy commute.  The Phoenix light rail on Central Avenue takes you as far south to The Talking Stick Resort arena all the way up north to Bethany Home Road – Spectrum Mall.

 

SVN office advisor, Paul Borgesen III specializes in the downtown central corridor commercial real estate market. “Downtown Phoenix has not seen growth like this in the last two decades.  The influx of university campuses as well as new fortune 500 companies entering the marketplace has created a high demand for urban living as well adaptive re-use of outdated space.”  Multifamily developers have even bought into the vision of creating urban and modern living with 3,000 plus apartments being developed or approved to be developed in the same area.

 

Two recent office sales that Desert Commercial Advisors just closed on are located at 2501 N. 7th St. and 2000 N. 7th St. in Phoenix. These two sales totaled over $1.1 million in sales volume combined.  The 5,500 square-feet property located near 7th St. and Sheridan St. sits next to a variety of different restaurant and retailers in the area. The property located on 2000 N. 7th St just south of the 2500 block is off of Palm Lane and 7th St., surrounded by several apartment complexes, elementary schools, and St Mary’s Catholic High School.

 

“We believe that the downtown market will continue to thrive as a viable investment for real estate investors and developers alike,” Borgesen stated as he currently has half of the current office listings in that same demographic area.

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