Full Service Auto Center Sells for $505K as a Buyer Investment
Phoenix, Arizona – July 1, 2015 – A multi-tenant automotive commerce center sells for $505,000 to buyer, Phoenix Residential Associates, LLC. as an investment property. Michael Gaida and Michael Franks with Sperry Van Ness, LLC in Phoenix represented the seller, Di Verde Realty in Peoria for the sale.
The seller is a licensed Real Estate agent specializing in home sales. The automotive service building is his investment property and he wanted a commercial broker to represent this transaction. He saw our Sperry Van Ness sign on a retail building down the street and called us to inquire about listing his property.
As the deal continued to wheel and deal, Gaida stated, “We had steady activity on the property with several "low-ball" offers over 9 months, but the seller held fast on his price and we were finally able to find the right investor who saw the value of this automotive property.”
Even though the seller is a licensed real estate agent with a CCIM designation, he wanted a team of commercial specialists to handle the marketing and sale of his investment property. The final transaction was handled by Vicki Etherton with Lankmark Title.
Sperry Van Ness, LLC 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.