Texas-based Varsity Tavern joins Mill Avenue lineup
PHOENIX, ARIZONA (August 8, 2017): NAI Horizon negotiated a long-term lease for Texas-based Varsity Tavern at 501 S. Mill Ave., in Tempe.
The NAI retail properties team of Senior Vice Presidents Shelby Tworek, Chris Gerow and Gabe Ortega and Associate Patrick Anthon represented the tenant, Ipsum Creative LLC of Tempe, in the transaction totaling $2.641 million.
Varsity Tavern will occupy the second and third floors of the retail property. It will take 10,925 square feet with 3,400 SF of patio space. Gringo Star occupies the first floor.
“We’re looking forward to seeing Varsity Tavern come to Arizona,” Anthon said. “It will be a great option in downtown Tempe for both good food and entertaining nightlife. The group is looking to revitalize the former Hooters space, and has some exciting plans in place to cater to students, those in the Tempe workforce, and nearby residents.”
The landlord, Century Drive Investments of Phoenix, was represented by Brian Gast of Velocity Retail Group.
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.