HESPERIA, CA – Commercial broker and manager of the First Team Real Estate High Desert offices, Bruce Kallen recently closed escrow on two significant commercial transactions totaling over $8 million in closed sale volume. The two transactions expertly closed in the same week, include a 32-unit apartment building in Northern California closing for $6.75 million, and a $1.45 million 7-11 anchored strip center in the Victor Valley. Continuing a history of robust transaction volume as a top agent and Hall of Fame Silver award winner within First Team Real Estate, these sales mark nearly $25 million in gross sales volume for Bruce in 2020 alone.
Representing the buyer in both of these complex commercial transactions, Bruce delivered his signature level of quality services to his clients to negotiate quality deals despite the market changes amid COVID-19. Negotiating a $500,000 price reduction for his client on the 32-unit Northern California building, he also successfully employed a local real estate attorney to draft a strategic lease guarantee for the buyer, a significant win considering our current pandemic. Showcasing his skill and tact, Bruce negotiated the lease income to be guaranteed by the seller and property management to not drop below the same income reported in 2019. The guarantee was agreed for a full year and the buyer satisfied that no disruption of income will happen during the pandemic. Personally flying to the Sacramento area to handle the necessary inspections and transaction details on behalf of his clients, Bruce successfully brought the sale to close.
For the sale of the 7-11 anchored strip center, Bruce negotiated the purchase and also coordinated the Phase One environment as there were existing gas pumps on the property. Working creatively, Bruce also negotiated a seller carry for his buyers to be paid over the next 5 years, including an agreeable note with the seller’s agent, again with the assistance of his attorney.
“The High Desert real estate market is currently booming, performing at high levels supported by healthy buyer demand,” explains Bruce. “It is an honor to continue serving our clients in both residential and commercial transactions, ensuring buyers, sellers, and investors can feel safe and secure in achieving their real estate goals in today’s ever-changing climate.”
Bruce Kallen is co-owner and broker of First Team Real Estate’s High Desert offices located in Hesperia and Victorville, growing from 4 agents to 68 in just one year, and always accepting new, motivated, and positive team members. Voted “Best of the Desert” for both Residential and Commercial Real Estate in its first year in existence in the High Desert, Bruce and his team are the #1 choice among locals for their outstanding service and proven results.
Passionate about his work and serving others, Bruce is always available by phone for clients looking to buy or sell commercial properties throughout California, and for his dedicated team of local professionals. If you are interested in joining the First Team family in the High Desert or need help achieving your real estate goals, you can reach Bruce directly at 760-403-3000.
First Team Real Estate High Desert locations:
Spring Valley Lake – Victorville
12170 SVL parkway
Victorville, CA 92395
High Desert – Hesperia
15545 Bear Valley Rd, Suite A
Hesperia, CA 92345