Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PRESCOTT VALLEY, AZ-The 18,400-sf Windsong Plaza has been sold for $2.8 million to a Los Angeles-based family trust. The off-market deal trades at an 8% cap rate.

Located at 3040-3050 Windsong Dr., the plaza was 100% percent occupied when it changed hands. The seller is a private investor, Anton Platzer from Prescott Valley, and the buyer is the Kravitz Family Trust, which acquired the property as part of a 1031 exchange.

“The buyer’s goals and motives were investment. He wanted something with a good rate of return,” says Nick Miner, senior associate with Eagle Commercial Realty Services in Phoenix. Miner. The trust’s broker says it’s the buyer’s first in the area and no more are planned at this time.

“This was a good first deal for him,” Miner tells GlobeSt.com. “There isn’t a lot of tenant turnover and it has staggered leases. This will take some work to keep up, but not a lot.” The center is filled with national and local tenants like chiropractor and fabric shop. Karen Klabacha of Realty Executives in Prescott represented the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.