Lake Havasu City's Newest Premier Commercial Location
- In the heart of downtown Lake Havasu-located at 1695 Mesquite Ave.
- Close to restaurants, shopping and medical facilities.
- 18 units ranging from 1,066 - 1,300 square feet.
- 2 stories of units - choose from easy access ground level or second floor with lake views.
- Wheelchair accessible, elevator for second floor.
- Beautiful Tuscan theme.
- Great visibility, lots of signage.
- Ample parking, plus a large public parking lot behind building.
Don't Miss This Great Investment Opportunity
Why Lease When You Can Own?
Priced Affordably from $255,000 - $325,000 with great financing packages available through Chase Bank.
Bella Plaze Earns Pride Award
Today's News-Herald
October 23, 2007
The Bella Plaza Professional building at 1695 Mesquite Ave. was selected to receive the Commercial Pride Award, presented by Keep
Havasu Beautiful. The building was chosen for
its attractiveness and low maintenance landscaping.Completed in 2006, the plaza has 18
business condominiums. It is owned by Joanna
Pellerito Pryor and her partner, Charlie Dibella.
Lia Stein, on behalf of Pryor and Dibella,
accepted the award from Stellene Matzdorff of
Keep Havasu Beautiful.
Bella: Rent To Own
by Tony Raap
Today’s News-Herald
July 28, 2007
Unlike many first-time business owners, Crystal Alger eventually won’t have to worry about paying rent. The 22-year-old American Family Insurance agent decided to set up shop in Bella Plaza, an 18-unit retail/office complex on Mesquite Avenue. After her one-year lease expires, she can purchase her 1,051-square-foot unit.
For her, the option to buy was perhaps the biggest selling point. “I didn’t want to put in a whole bunch of tenant improvements just to give it back to the landlord,” Alger said. “I just liked the location and it was a new building. It was a good investment.”
By some estimates, as much as 90 percent of the city’s retail/office space is lease only. While that may be advantageous for the property owner, it often puts the tenant in a less-than-favorable position. “Most people who are in a lease don’t want to be in a lease. They want ownership,” said Joanna Pryor of Joanna & Associates Realty, which developed Bella Plaza. “When you’re leasing office space, you’re paying off someone else’s retirement.”
Most upstarts start off with very little cash. Tenants tend to monopolize on this, Pryor said. The little guy has the choice of building a big building himself, which he doesn’t have the money to do, or to lease.
“I wanted this to be affordable so that the small-business owner could own his own office space, so he could buy his own, individual unit. He doesn’t have to be held captive to the big guy who just leases out property,” she said.
Bella Plaza’s tenants are on a buy/lease program where they lease their unit for a year before it becomes a sale. That way, they will have built up enough equity to make their down payment, Pryor said. “Basically, there’s so much tax advantage. The government really blesses you when you buy something as opposed to lease it. So by the time you get appreciation on it, actually you come out ahead. You pay less money buying it than you do leasing it,” she said.
Bella Plaza has been in the works for about three years. Since opening in November, seven of its 18 units have been sold. The units range from $239,900 to $309,900. The average size is about 1,080 square feet.
Besides American Family Insurance, the building houses Huffman Chiropractic, Valerie’s Sugar Brook Bakery & Cafe and Boardwalk Galleria, among others. “These are people who would never had been able to build a building themselves. But they felt like they were just throwing money away by leasing,” Pryor said.
Another appealing feature is Bella’s ambience. The exterior is made of Tuscan stone to give it an Italian look. “I loved the way the building looks and I love the location,” said Valerie Howard, owner of Valerie’s Sugar Brook Bakery & Cafe. “I’m centrally located to downtown. It’s really the perfect location.”
One of the challenges of buying or leasing an office space is finding a complex that has ample parking. Bella has 36 parking spaces in front of the units for customers and clients. Behind the building is a several-hundred-space parking lot where employees park. The two-story structure also has a full-size commercial elevator. Near the entrance is a lit monument sign. “You can see it from both sides, which is huge because half of the battle of having a business is having people know where you’re at,” Pryor said.
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