NAI Horizon negotiates $1.95 million investment property sale in Tempe
PHOENIX, ARIZONA (July 11, 2016): NAI Horizon Senior Vice President Mark Wilcke represented the seller in the $1.95 million sale of a multi-tenant, automotive retail/office investment property at 2404 and 2412 N. Scottsdale Rd., in Tempe.
NAI Horizon represented Scottsdale Equity LLC of Los Angeles in the transaction.
The 17,418-square-foot retail/office asset is 100 percent occupied. Located on the NWC of Fillmore and Scottsdale roads in Tempe, the 2404 building is single-leased to Title Max. The 2412 building is occupied by automotive repair firms Euro Motor Works, Babbitt Motor Werks, and Luxury Legends.
Wilcke first received the listing assignment in 2009 to lease a completely vacant property. Over the next several years he secured several different tenants to bring the property to 100 percent occupancy.
“After the property was stabilized and cash flowed, the ownership, being from out of state, employed me to sell the asset,” Wilcke said. “After considering multiple offers the owners accepted the offer from ViaWest. It’s been exciting to be part of the automotive sales and leasing rebirth that north Tempe and south Scottsdale have realized.”
Wilcke has been involved in numerous other transactions along Scottsdale Road in recent years. Clients include Hertz Corporation, Palacios Upholstery, Corvette Performance and AAMCO Transmission.
The buyer, VWP Fillmore Retail LLC was represented by Andrew Fosberg of CBRE.
About NAI Horizon
Established in 1992, NAI Horizon is a full-service commercial real estate brokerage and management firm serving Arizona through its offices in Phoenix and Tucson. In June 2015, NAI Horizon became one of the few broker-owned and operated full-service commercial real estate firms in Arizona.
Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network which provides real estate solutions worldwide.
For more information visit www.naihorizon.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific,
with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management.
To learn more, visit www.naiglobal.com.
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