Armed Forces Plaza in Scottsdale sells for $2.45 million through 1031 Exchange
Phoenix, Arizona – August 3, 2016 – SVN, Desert Commercial Advisors is a full service brokerage known for their superior range of commercial brokerage services in Arizona. Retail leasing and Business Broker, Michael Gaida proved that building relationships in this industry will always serve a greater purpose and contribute to the success of a client’s long term goal. A relationship that began with the owners of the Armed Forces Plaza many years ago ended up spelling S-A-L-E just recently. This half-brick designed building in Scottsdale recently sold for $2,450,000.
The property located at 6747 E. Thomas Rd. sat vacant for a few years and eventually SVN was given the opportunity to represent the owners in an effort to lease the property during a challenging time in the market. Since the market was coming out of a recession, it took a few years to find the right mix of tenants to occupy the building. In the end, the SVN Phoenix office was responsible for all the leasing in the building to complete the 100% tenant occupancy rate. This was a contributing factor because Gaida’s history and experience representing the property before proved that he always had the best interest for his client and therefore was entrusted to represent the sale listing.
The seller and President, Ara Bezdjian had great things to say about Michael Gaida’s representation in the whole transaction. “I recently close on one of our assets in Scottsdale at 68th and Thomas Road with Michael Gaida. I was very happy with the work and effort put in by Michael and the extra effort to get some last minute documents completed. I would definitely recommend Michael and plan on working with him in the future regarding our needs.”
Gaida stated, “Once we landed the Armed Forces Recruiting Center, the remaining tenant fell into place.” Due to an unfortunate passing of one of their principals, the others were eager to sell in order to settle the estate. To an advantage, one of the owners is also a broker in California so he was able to help push this sale through this 1031 exchange buyer. The sale transaction was handled by Carrie Delrosario with First American Title.
SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.svnpartners.com for more information.