Latest deals from NAI Horizon, Marcus & Millichap, ORION
NAI Horizon negotiates long-term lease for Party City
NAI Horizon’s retail team negotiated a long-term lease on behalf of the landlord for a Party City location at The Market at Estrella Falls, 1981 N. Pebble Creek Parkway, in Goodyear, Arizona.
The NAI Horizon Retail Properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega and Associate Patrick Anthon represented the landlord, The Market at Estrella Falls LLC of Glendale, Arizona, in the lease transaction totaling $2.847 million.
“This will be a relocation from across the street,” Tworek said. “It’s a great complement to our existing soft goods users within the shopping center.”
Party City will occupy 15,068 square feet at the Goodyear power center that totals 355,000 SF. Some of the retailers include Old Navy, Cal Ranch, T.J. Maxx Home Goods, Dollar Tree, and Petco.
The tenant, Party City Corporation of Rockaway, New Jersey, was represented by Neil Board of Western Retail Advisors.
Marcus & Millichap
• Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Verizon, a 3,000-square foot net-leased property located in Yuma, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $1,910,000. Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Verizon is located at 11345 S Fortuna Rd in Yuma, AZ.
• Ryan Sabinoff, regional manager at Marcus & Millichap, announced the $2,350,000 sale of O’Reilly Auto Parts, a 7,000-square-foot net-lease property located at 16824 W. Bell Road in Surprise. Jamie Medress, Mark Ruble, and Chris Lund, investment specialists at Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
• Marcus & Millichap announced the sale of Safelite Auto Glass – Corporate, a 4,973-square-foot net-leased property located at 5851 E. McKellips Road in Mesa for $1,160,000. Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a partnership.
ORION Investment Real Estate
ORION Investment Real Estate facilitated the sale of a 1.65-acre site located on the southwest corner of 29th and Van Buren streets. The land was purchased for $850,000, or $11.86 per square foot. An affordable housing project is proposed to be built on the site. Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the buyer. Miner said, “This is the third land site I have helped Cardinal Capital acquire and we are currently looking for more sites for them.” The seller was represented by Gene Minchuk of Realty One Group.