SVN Desert Commercial Advisors' Retail Advisory Group closed on the sale of 14870 N. Northsight Blvd. in Scottsdale for $3 million to Newbury Park Investments, LLC.
SVN Desert Commercial Advisors is a commercial real estate brokerage that services the entire Valley. SVN Advisors Kevin Weller, Mary Nollenberger and Nicole Ridberg represented the seller in the transaction.
The 18,236 square foot retail center is called Northsight Village. Even in this uncertain economic time, there were several interested buyers for the value-add retail asset during its short duration on the market, a press release claims.
“We were pleased to close this transaction for Arcus Capital after actively marketing the property for less than 45 days,” Mr. Weller said in a prepared statement.
The seller, Andrew Martin with ARCUS Private Capital Solutions benefited from the sale, closing 30 days early. Mr. Martin said he “was impressed with SVN’s efforts and success” in marketing the property and bringing it to a successful close.
Mr. Weller said it became clear to the advisors that there is still a large amount of demand for property in the north Scottsdale submarket.
“I believe it shows the strength of the Phoenix market, even in these challenging times,” he said.
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.
The company claims to specialize in multifamily, retail, office, medical/dental and restaurant property types.