Tonopah Lands Sells for $1.7M to Local Investor

Phoenix, Arizona – May 2, 2018 – SVN Desert Commercial advisors has been very proactive in representing land owners in the valley.  With approximately thirty land listings that are currently on the market, SVN advisor Jonathan Levy represents the land owner, James Coyne in another sale in Tonopah, Arizona.

The land is located in the far west valley just east of 383rd Ave & Indian School Road.   The property was purchased by JR Investments 1, LLC a local investment group for $1,700,000 in a cash transaction. Levy represented the seller, Indian School 200, LLC a Nevada LLC. This was an off-market transaction that was a matter of putting the pieces together in what seemed like a great fit. Levy sourced the seller and buyer, along with related entities that have acquired nearly 90% of the property in this market.

Levy stated, “I am happy for both my client, as well as the buyer for adding another investment property to his portfolio.” After the initial conversation with the seller in Nevada about the Tonopah market, he was still contemplating whether to sell the property. Fortunately, Levy presented all the market statistics on future growth and development expectations and it was clear that this was a great opportunity to sell 200 acres of land in the west valley.  The escrow period was only sixty days.  “Jonathan certainly earned his fee on this transaction for the simple reason he called me, said James Coyne. “It’s a great example of being persistent in this business.”

This is also why Jonathan Levy was accepted into the NAIOP Developing Leaders XIV Forum.  He was given the opportunity to advance his career by gaining insights from and networking with seasoned commercial real estate professionals and peers over the next two years.  Levy is currently in New York City this week for the first forum training.