PHOENIX, ARIZ. (April 10, 2024) – NAI Horizon represented the buyer, a Latino-owned construction and asphalt company, in the $9.5 million acquisition of an industrial building that will help expand its business in the Northwest Valley.
NAI Horizon Executive Vice President Jeffrey Garza Walker, MRED, MBA, and Senior Associate Art Verdugo represented Glez C Properties, LLC, in the purchase of a Class B industrial warehouse totaling 81,060 square feet at 10857 N. 9th Ave., in Peoria, Arizona.
Built in 2005, the warehouse and manufacturing building will allow Gonzalez Asphalt to expand its business. The Phoenix-based company offers paving, grading, milling, line striping, parking lot maintenance, slurry seal, and site development, to name a few of its services. The asset enjoys a prime location with strong curb appeal and exceptional freeway access.
“Once again NAI Horizon is proud to be a partner with a business that serves the community and reflects the rich diverse culture in the Valley,” Garza Walker said. “This is a special building for the Gonzalez family. With a site in the Northwest Valley, this is the asset they needed to expand their business.
“Special thanks to Ivan Garcia with First Fidelity Bank who provided the family with half of the funding to make this dream come true. Gonzalez Asphalt has a well-established relationship with ADOT, getting contracts for freeway work you see around Metro Phoenix. This is a 100 percent Latino-owned business that is prospering and growing in the Valley,” Garza Walker said.
The seller, Chris Finn, was represented by Gary Cornish with Newmark and Geoffrey Turbow with CBRE. Eric Nutt with Commonwealth Title also helped facilitate the deal.