Phoenix-based Hannay Investment Properties has announced that it has changed its name to Hannay Realty Advisors.

Hannay has been on a growth track for the last several years.

The company is currently managing more than 5 million square feet of commercial properties in the western United States, including office, retail, multi-family and self storage properties.

The company has handled more than $700 million in loans as a court-appointed Receiver in the last two years.

"The scope of our business has expanded greatly over the last few years, and we believe that the new name more accurately reflects the expanded platform of our business," said Craig Hannay, president of Hannay Investment Properties.

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