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.