Cashen Realty Advisors’ recent Closings included a $23,400,000 15-year 48,800 S.F. Lease for C.M.B. III, L.L.C. at 13454 N. Black Canyon Highway (I-17); a 10-year $2,000,000 Lease for SSVI, LLC at 3816 N. 7th Street; a $2,400,000 Land Sale to Math and Science Academy at the SEC of 15th Avenue and Baseline; a $2,100,000 20,424 S.F. Office Building Sale to Riley Smith Development at 500 E. Thomas; a $4,500,000 5.5 Acre Land Sale to Encore for a 200-unit Multi-Family Development in Chandler; and a 2,100 S.F. Retail Building Sale to LK2 Enterprises at 6101 N. 7th Street for $1,100,000.
Cashen reports 20 additional transactions under contract and predicts that Phoenix will be amongst the strongest Real Estate Markets in weathering the disruption of the national economy as a result of the Coronavirus health crisis. He says the lack of over building in this cycle has created the healthiest balance of supply and demand that he has seen in his 35 years in the Commercial Real Estate business. He adds that certain retail and shopping center investments will struggle; however, they will rebound within 18 months.