A partnership formed by Hannay Realty Advisors announced that they have closed on the purchase of The Camelback East Shops located at 3201 E. Camelback Road in Phoenix, Arizona. Camelback East Shops is a 25,000 square foot retail shopping center anchored by well-known tenants Tarbell’s, Tomaso’s and Vans Pro Shops. The center is located close to the popular Biltmore Fashion Park and is in an area of town that features some of the best restaurants and retail outlets in the Valley.
“We are thrilled with our acquisition of The Camelback East Shops. This iconic asset will provide stable cash flow for our investors with future upside as the Camelback Corridor continues to flourish. We are actively looking for future acquisitions in the US market, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay. Hannay Realty Advisors will provide the leasing and management services at the property, adding to the Company’s growing management portfolio.
In 2014, Hannay Realty Advisors looks forward to providing property management and maintenance solutions for commercial business owners as well as identifying key acquisitions in the retail, office and industrial real estate arena.