NAI Horizon negotiates $14M investment sale of west Phoenix retail center
PHOENIX, ARIZONA (December 27, 2018) – NAI Horizon represented 29 Bell, LLC (Bruce Shapiro, Principal), the buyer in the $14 million investment acquisition of Deer Valley Center, a 128,569 SF retail center located at 4123-4273 W. Thunderbird Rd., in Phoenix.
NAI Horizon Senior Vice Presidents Lane Neville and Barbara Lloyd and Associate Logan Crum represented the buyer. NAI Capital, John Manion and Travis Watkins (Irvine, California) represented the seller, Deer Valley Center LLC of Henderson, Nevada (Warren Kellogg, Principal).
“This off-market acquisition is a key strategic move for our client in the expansion of their Arizona retail portfolio and provides excellent upside opportunity to grow property income through capital improvement and strengthening of the overall tenant mix,” Neville said.
Deer Valley Center sits on 11.44 acres. Tenants include Starbucks, Goodwill, Great Clips, and Sally Beauty.
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.