PHOENIX, ARIZ. – Phoenix Commercial Advisors closed on Mora Italian, Wednesday, May 16. The property, located in a trophy location on the southeast corner of 7th Street and Montebello Avenue at 5651 N. 7th Street in Phoenix, sold for $4,681,000, or $780 per square foot. The 5,998-square-foot building on 0.76 acres housed Mora Italian, celebrity chef Scott Conant’s concept voted #1 Best New Restaurant in Phoenix for 2017.
Chad Tiedeman at Phoenix Commercial Advisors represented the seller, 7th Street/Montebello, LLC, in the transaction. The transaction is one of 11 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in 2018.
“This property is a winning combination of an exceptional location paired with a strong tenant. The restaurant itself and its chef are both award-winning, and it sits right in the Phoenix Golden Mile Corridor. I think it’s a solid investment opportunity, and will continue to be and grow as a community staple for delicious food.” – Chad Tiedeman
About Phoenix Commercial Advisors
Formed in 1994, Phoenix Commercial Advisors (PCA) is a commercial real estate services company, specializing in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities. PCA provides leasing services, tenant and landlord representation, investment sales and redevelopment services to local and national retailers and property investors. Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.