Vizzda Welcomes Lee and Associates

Vizzda provides Phoenix's top investment, development, brokerage, lending, and appraisal firms with the highest caliber of commercial real estate data. Today we extend a warm welcome to our newest client, Lee & Associates. 

For more than 20 years, Lee & Associates has served as one of Arizona's leading, full-service brokerage firms.  With an impressive client list including the likes of US Bank, Motorola, ASU, and hundreds of others, Lee & Associates offers one of the most seasoned teams of expert brokers in the Valley.  Like Vizzda, Lee & Associates is riveted on providing the best service in the industry.  Learn more about Lee & Associates today by visiting www.leearizona.com.
Vizzda provides the fastest, most comprehensive sales data in the commercial real estate industry.  To learn more, visit www.vizzda.com or contact Kris Thompson at kthompson@vizzda.com.

Westwood Financial Sells Sonora Village Shopping Center for $46.575m

VIZZDA--June 1, 2012 -- Sonora Village Shopping Center– a 248,322 SF retail center was sold May 31st, 2012 by Steven Fogel’s Westwood Financial Corp to an investor group including Safeway Holdings of Alberta, CA for $46,575,000 or $187.56 per SF. Primary investors include William Kujat, Ryan Denk, and Robert Mariash. 
The group put $12.925M down and financed $33.65m new debt with Goldman Sachs Commercial Mortgage.  Westwood was previously noticed for trustee sale on the property April 28th, 2010 having defaulted on a $28.7M loan with Wells Fargo CMBS. That deed of trust was modified July 6th, 2010, canceling the auction. Westwood originally purchased the property 11/23/99 for $40,977,600 or $165 per SF ($12,277,600 down/$28.7m debt with Column Financial). 
The seller--represented by Lee & Associates--reports the property was 82% leased at time of sale. The transacted portion of Sonora Village includes 33 retail suites built between 1996 and 2002 on 28 acres.

By:

Hadden Schifman

Managing Director

hadden@vizzda.com