SVN’s Horwitz, Borgesen sell land for $2.2M in the Roosevelt Row District

SVN recently sold property at 811 — 817 N. 3rd St. for $2,148,600. (Submitted photo)

Recognized for their sale records in Phoenix, SVN Senior Advisors Justin Horwitz and Paul Borgesen III recently sold the property at 811 — 817 N. 3rd St., for $2,148,600.

Located near the Arizona Center and surrounded by several multifamily properties down 3rd street, according to a press release, the 21,000-square-foot parcel sold to Jon Vento with True North.

Justin Horwitz

SVN procured True North as the buyer for a development site in the Roosevelt Row district of downtown Phoenix, the release said. The property is less than a half a mile from the Arizona State University downtown campus.

While True North has not disclosed specifics, there are discussions of a mixed-use concept, said the release.

“This was an absolutely fantastic sale for the seller and we are extremely excited to have partnered yet again with True North,” Mr. Horwitz said in a prepared statement.

SVN represented the seller in the transactions as well. Seller Paul and Janet Bonn disposed of their last property in the Phoenix area with no plans for further commercial real estate investment.

Paul Borgesen III

“This development will be a great addition to the already booming Roosevelt Row,” said Mr. Borgesen III in a prepared statement. “We are excited to see this development activity to keep gaining momentum.”

Downtown Phoenix is among rapidly growing areas, the release noted.

“This area is literally changing by the week and we are so excited to a part of it all,” Mr. Horwitz stated.

True North will continue their development surge in to downtown Phoenix. The SVN advisors have several current sale listings in the downtown Phoenix market.

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