PHOENIX, ARIZONA (Nov. 8, 2023) – NAI Horizon represented the owners of one of the Valley’s most popular Latino dance spots in the purchase of the vacant Sears building at Desert Sky Mall. The buyers are transforming the new space into their second entertainment venue in the Valley.
NAI Horizon Executive Vice President Jeffrey Garza Walker, MRED, MBA, represented Club Capri Real Estate, LLC, of Phoenix in the $7.13 million purchase of the 120,000 SF space at Desert Sky Mall, a regional shopping center at 7611 W. Thomas Road, in Phoenix.
The buyers, brothers Melchor and Pedro Marques Jr. own El Club Capri, 2135 E. Van Buren, one of the biggest and longest-running (40 years) entertainment venues for Latino concerts, dances, parties, weddings, and quinceañeras.
“They have always wanted to open a similar venue on the West side,” Garza Walker said. “This is the perfect spot, and the community is very excited. The owners feel this entertainment facility is going to serve the people – who are about 80 percent Hispanic – in the community. The elected officials who represent this part of Phoenix are excited about what the new owners are going to turn it into. They are thrilled that the community is behind it as well.”
The Marques brothers own KSUN-1400 AM, a Spanish-language radio station serving Metro Phoenix. The regional Mexican music format is under the branding “La Mejor.” The station broadcasts Arizona Diamondbacks and Phoenix Suns games in Spanish.
“NAI Horizon continues to be a purposeful partner, making things happen positively in the community,” Garza Walker said. “This will be a great venue for West Phoenix.”
The new venue is expected to open in late 2024 or 1Q 2025.
Desert Sky Mall is located at 75th Avenue and Thomas Road. The mall was developed by Westcor and is managed by Macerich. The anchor stores are Curacao, Burlington, Mercado de los Cielos, and Dillard’s Clearance Center. Desert Sky Mall serves as a transit center for Valley Metro.
The seller, Seritage SRC Finance LLC of New York, New York, was represented by Trent Steeves with CBRE.
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 in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, 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 325 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 over 1.1 billion square feet of property and facilities. Annually, NAI Global completes more than $20 billion in commercial real estate transactions and 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, logistics consulting, and related advisory services.
To learn more, visit www.naiglobal.com.