Avistone Acquires Arizona Retail

By April 24, 2013News

Avistone, an active buyer of value-added and yield-oriented real estate investments, has acquired the Glendale Town Center located at 4935 West Glendale Avenue, Glendale Arizona. The purchase of this 21,000 square foot value-add retail center represents an excellent repositioning opportunity via a major renovation and a determined leasing effort.

“This acquisition represents an opportunity to acquire a well-positioned asset at an attractive basis in a market with improving fundamentals,” said Daniel Culler, Managing Principal of Avistone.

Avistone set aside significant funds for new tenant finishes and leasing costs, and upgraded the parking surface, landscaping, signage and building fascia. With excellent exposure on a major boulevard with traffic counts of 35,000+ cars per day, this center is ideally suited for regional and national retail tenants requiring 1,200 to 3,600 square feet of space and excellent visibility.

Avistone is actively seeking value-added and yield oriented office, industrial, retail and multi-family investments from $3 to $25 million in western U.S. markets.  Please submit investment opportunities to acquisitions@avistone.com.