PHOENIX, ARIZONA – NAI Horizon represented the seller and the buyer in the $3.95 million disposition and acquisition of a popular and well-maintained retail center on bustling 43rd Avenue in Glendale, Arizona.
NAI Horizon Managing Director Matt Harper, CCIM, facilitated the deal for Olive Crossing, 9250 N. 43rd Ave., in Glendale.
The seller was 43rd Ave LLC; the buyer was Arizona MSK LLC and Gavin Holdings LLC.
“This is the first time the property was available and offered for sale on the market in more than 30 years,” Harper said. “I have worked with the seller on the property leasing since 2016. The buyer was another long-time client that was in a 1031 Exchange. I have worked on leasing the buyer’s properties since 2015.”
Olive Crossing features visible location with strong traffic counts, large end-cap fronting 43rd Avenue, monument signage, and covered parking for tenants. The retail center totals 30,040 SF.
Tenants include Cardenal Stereo, State Farm Insurance, Glendale Pawn, and Joni’s Hair.