South Tempe Redevelopment Pad Property Trades
August 17, 2016 | Tempe, AZ
TEMPE – ORION Investment Real Estate-Nick Miner, CCIM-is proud to announce the sale of the pad property at Countryside Specialty Shops for $1,200,000 ($450/SF). The pad is within a vibrant retail strip center, located on the hard northwest corner of McClintock Drive and Warner Road. Positioned at a signalized intersection, the property sees a combined ±47,000 vehicles per day. The building was vacant at close of escrow, with the ability to redevelop.
Countryside Specialty Shops Pad is located in South Tempe near Arizona State University, ASU Research Park, Discovery Business Campus, Phoenix Sky Harbor International Airport, and much more. Being situated in the center of the Greater Metropolitan Area allows for an easy commute to all parts of the Phoenix Metro, especially with its efficient transportation systems and the light rail. The pad's zip code of 85284 was recently listed as a top five zip code for household wealth in the Valley. A high average household income of $128,498 has been reported within one mile of the property.
Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, represented the Seller in this transaction. Miner said, "This closing represents the conclusion of the sale of Countryside Shops for the seller as part of the overall strategy for them." Miner further goes on, "The seller is in the process of redeploying the proceeds into newer centers as part of their overall strategy and this sell was the final piece."
Buyer was Hawkins Companies.
8750 South McClintock Drive
Tempe, Arizona 85284
± 2,667 SF
Built in 1985