PHOENIX, ARIZONA (Sept., 5, 2023) – NAI Horizon’s Church Realty Solutions practice represented the seller in the disposition of 4.567 acres in North Scottsdale.
NAI Horizon Senior Vice President Thomas Smith represented the Spiritual Assembly of the Baha’i of Scottsdale in the $850,000 sale of the land at 10575 N. 130th St.
“Northeast Scottsdale remains a market with a high demand for land parcels that can be developed for residential projects,” Smith said. “In spite of the challenging city conditions/restrictions imposed on our site, the owners and I never lost the belief that the right buyer would come along and embrace this unique opportunity to construct custom homes under the current zoning in this unique and much sought after community in one of America’s greatest cities.”
There was very strong demand for the site from a variety of user and investor types, Smith adds, but in each case, a general plan amendment and a rezoning would have been required in order to construct any type of project other than a one-to-the-acre single-family residential community or possibly a church campus.
Since COVID impacted many churches extremely negatively over the past 2 ½ years, no church entities ever came forward to seriously consider building a new property even at this ideal location.
“For me, the Church Realty Solutions practice is part business and part ministry and serves as my driving purpose to create and deliver world-class professional real estate services to communities of faith,” Smith said. “Although it took two years of constant efforts, we were ultimately able to meet the sellers’ objectives in this land sale.”
The buyer, Leiat LLC of Scottsdale, was represented by Moe Hegazy with Hegazy Realty.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, providing Brokerage and Property Management Services for local, national, and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 300 offices worldwide. For more information, visit www.naihorizon.com.
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Advisory Services, Leasing, Property Management, Property & Note Sales, and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa, and Asia Pacific, with 5,100 local market professionals managing over 1.1 billion square feet of property and facilities. Annually, NAI Global completes more than $20 billion in commercial real estate transactions and gross revenue of $1.5 billion.
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