PHOENIX, ARIZONA (January 31, 2022) – NAI Horizon’s Investment Services Group represented three ownership entities in a $7.254 million assemblage and disposition land sale. The land is located at 1820, 1836 and 1840 East Apache Blvd., in Tempe, Arizona.
The 4.94-acre land tract is located in a prime location on the north side of Apache Boulevard, just east of McClintock Drive. The property is conveniently situated adjacent to the McClintock and Apache light rail station, approximately 1.1 miles southeast of Arizona State University.
The buyer is Trinsic Residential Group of Dallas, Texas (trinsicresidential.com). This new high-density residential project is called Aura Apache.
NAI Horizon Executive Vice President Lane Neville, Senior Associate Logan Crum and Associate Cole Neville represented the sellers, IPIRG Opportunity Fund, LLC, Stafford Properties of Arizona, Inc., and Stafford Apache, LLC.
“The escrow for the Aura Apache land sale was 23 months, during which the buyer attained new zoning, received site plan approval, architectural design review, and City of Tempe approval of the building permit,” Lane Neville said. “The mixed-use, apartment project has 295 units.
“Trinsic Residential Group was a pleasure to work with, our NAI Horizon team is proud to be a small part of such a great high-density development project. We are excited to watch their build-out and Class-A amenities being constructed and completed over the next two years,” Lane Neville said.
Aura Apache will include three distinct building types: a wrap-style apartment structure, townhomes, and a standalone office building. The asset will feature high-end amenities with resort-style improvements.
“Trinsic Residential Group is excited to begin construction on Aura Apache, our third project in Tempe. The project will bring high-end apartment units to a developing stretch of Apache Boulevard,” said Tristan Charlesworth, Development Director with Trinsic Residential Group in Arizona.
The NAI Horizon Investment Services Group specializes in the sale of commercial land, multi-tenant office and retail properties throughout the Phoenix MSA and the greater Southwest.
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 more than 300 offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation
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 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions and a gross revenue of $1.5 billion.
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.