News

CBC Team Coordinates Sale and Purchase of Phelan Shopping Center

FOR IMMEDIATE RELEASE

Coldwell Banker Commercial represented all parties in the sale of a 12,950 square foot commercial building located in Phelan, California. Coldwell Banker Commercial President and Broker, Jason Lamoreaux, represented the seller while Vice President, Bob Basen and Commercial Investments Specialist, Jerrad Schendel represented the buyer of the multi-tenant retail shopping center. Fronting Phelan Road and offering nine fully occupied retail suites, the prime retail center attracted multiple offers.

 

Lamoreaux worked closely with the Coldwell Banker Commercial marketing team to develop an in-depth marketing campaign and market analysis for potential buyers. Lamoreaux deployed a significant marketing campaign to secure a large pool of potential buyers.

Coldwell Banker Commercial’s Bob Basen and Jerrad Schendel immediately notified clients of the available property as soon as it hit the market, quickly securing a final sales price of $2.3 million.  The buyer has also appointed the Coldwell Banker Commercial team to move forward with the management of the retail center.

 

“We always have our finger on the pulse when it comes to properties for our clients, even those not actively looking. We understand our client’s needs and are continuously working to provide them with options that we know are a good fit. We anticipated this particular property would be in high demand with the current growth in the Phelan area. So we worked closely with our client to devise a serious offer the seller would entertain, without seeing our client pay above market value. Working within the Coldwell Banker team offered an even faster than normal turnaround time, as the communication between parties was in real time. This was a great property and a seamless transaction,” stated Basen.

 

“The High Desert has experienced a tremendous amount of growth and Phelan is a part of that trend. It is always rewarding to work with clients that see the current and potential value in investing in our community. Bob and I take pride in understanding our clients’ needs and presenting them with opportunities we know they will find in line with their unique commercial real estate visions,” stated Schendel.