NAI Horizon negotiates $2.7M sale of Phoenix retail property
PHOENIX, ARIZONA (April 20, 2017): The NAI Horizon investment sales team of Senior Vice Presidents Lane Neville and Barbara Lloyd represented the seller in the $2.7 million sale of the Shops at Kohl’s, a retail property located at 4645 E. Chandler Blvd., in Phoenix.
The seller, DROF I-1, LLC of Phoenix, was represented by NAI Horizon.
The retail property totals 11,400 square feet and is 100 percent occupied. The retail center was built in 2003 and is zoned C-2 in the City of Phoenix. The infill retail location is anchored by Kohl’s.
“Our seller built value in this asset by committing capital investment and pursuit of a quality new leasing campaign,” Neville said. “The repositioning of this asset over the past few years, through full occupancy, was memorialized this week with the sale to a good buyer at market price.
“This asset sale was a nationally-based, competitive process where multiple potential buyers were ultimately eliminated by the eventual buyer,” Neville said. “Being part of the disposition of a quality asset, it is nice to see your client’s hard work pay off with a successful sale.”
The property is one half mile west of Interstate-10, west of the SWC of Chandler Boulevard and 48th Street. Tenants include State Farm, Sports Clips, Payless Shoes, Thai Delight, Bamboo Nails, and Arizona School of Rock.
The buyer, Koloa Ventures II, LLC of Honolulu, Hawaii, was represented by CBRE.
About NAI Horizon
Established in 1992, NAI Horizon is a full-service commercial real estate brokerage and management firm serving Arizona through its offices in Phoenix and Tucson. In June 2015, NAI Horizon became one of the few broker-owned and operated full-service commercial real estate firms in Arizona.
Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Horizon is passionate about the commercial real estate business, 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 which provides real estate solutions worldwide.
For more information visit www.naihorizon.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management.
To learn more, visit www.naiglobal.com.