News

Coldwell Banker Commercial Closes $1,250,000 Deal

FOR IMMEDIATE RELEASE

Basen and Schendel represent seller and buyer of multi-tenant building

Coldwell Banker Commercial, a premiere High Desert real estate firm specializing in multi-family, office, retail, industrial, land and capital markets, today announced another significant transaction with the recent sale of a commercial property located at 10763 Hesperia Road in Hesperia.

Coldwell Banker Commercial Vice President Bob Basen and Commercial Investment Specialist Jerrad Schendel have followed up their recent successful apartment sale by negotiating a $1.25M purchase and sale agreement for both the seller and buyer of a 10,800 square foot, fully-occupied commercial building. Sited on the east side of Hesperia Road just north of Lemon Street, the property includes nine separate 1,200-square-foot tenant units. Personal property contained in the transaction included 11 lifts, brake lathes and various other auto shop equipment.

“The buyer of this iconic yellow Auto Wrench facility is a residential income investor who liked the prospect of owning a multi-tenant commercial property with stable tenants on a long lease,” said Basen.

Schendel added, “The buyer was an investor who Bob and I remain in close contact. When he called us with a requirement for a 1031 exchange that needed to be filled rather quickly, this commercial building on Hesperia Road made an excellent investment choice.”

“This was a multifaceted transaction from start to finish,” said Coldwell Banker Commercial President Jason Lamoreaux. “The property was owner-occupied when Bob and Jerrad obtained the listing. They had to secure a tenant for the remaining vacant space and then find a buyer for the property as an investment. Despite the complexities, it comes as no surprise that the Basen-Schendel team has delivered yet another successful transaction for both seller and buyer.”

Coldwell Banker Commercial specializes in many fields including multi-family, office, retail, industrial, land and capital markets. Their team of real estate professionals provide an array of services from lease transactions and sales to property management and more. To reach Bob Basen and Jerrad Schendel or any other member of Coldwell Banker Commercial regarding your real estate needs, please call (760) 684-8000 or visit their website at www.cbcdesert.com.