NAI Horizon Tucson office negotiates $1.14M retail deal
TUCSON, ARIZONA (August 15, 2017) – Vice President David Blanchette, CCIM, of the NAI Horizon Tucson office negotiated the $1.14 million ($194.08/SF) acquisition of a 5,874-SF retail property at 522 N. 4th Ave., in Tucson.
NAI Horizon represented the seller, Stan S. Katz of Encinitas, Calif., in the transaction. Doug Jones of RE/MAX Alliance Group represented Avtar C. Verma of Paradise Valley, Ariz., the buyer.
“Over the past three years we have seen a steady increasing interest in the 4th Ave. entertainment corridor for investors and local merchants,” Blanchette said. “With the completion of the Light Rail Modern Street Car and the massive infusion of capital to the Downtown Tucson renaissance, 4th Avenue is ready for its own resurgence.
“Successful restaurants and merchants are expanding like Boca Tacos and Lindy’s, and Creations Boutique, which is owned by Mr. Verma. I expect to see 4th Avenue expand its diverse and eclectic mix of restaurants, shops, and clubs to meet the growing downtown population,” Blanchette said.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices located in Phoenix and Tucson. 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 providing real estate solutions to 400 offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide.
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.
To learn more visit: www.naiglobal.com.
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