SOLD: Gilbert Fiesta Shops II | Anchored by Fry’s (Kroger) Grocery Store | Gilbert, AZ

 

ORION Represents Seller in Fry's Shadow Anchored Shops

January 18, 2018 | Gilbert, AZ

GILBERT – Located along the Loop 202 retail corridor in Gilbert, within proximity to multiple new developments of retail, office, automotive, education, and residential, Gilbert Fiesta Shops sold for $3,500,000 at a 7% cap rate. The 21,900-square foot shopping center was built in 2005 in the booming southeast valley of Phoenix. Gilbert Fiesta Shops is leased by both local and national tenants, including Leslie’s Swimming Pool Supplies, State Farm, and Battery Giant. The property was 100% occupied at close of escrow.

Nick Miner, CCIM, and Andrew Harrison of ORION Investment Real Estate represented the Seller in the transaction. Miner said, "The Seller purchased this property as a distressed center with high vacancy in 2015. The Seller was able to release the property and capitalize on the value created by the Seller’s repositioning plan. The Buyer utilized a reverse 1031 exchange to purchase the property.  The Buyer liked the stable cash flow that the property will be offered, as well as the location in the fast growing City of Gilbert, Arizona."

 The Seller was locally-based Gilbert Fiesta II Lots 2 & 3 LLC. The Buyer, Grove Arizona, LLC, was represented by Sean Bishop, CCIM of Lee & Associates.

Nick and Andrew are representing the Seller of the PAD building, currently in escrow with an owner/user. For more information on their listing, please: click here

SOLD: $3,500,000 ($160/SF)
ADDRESS: 183-195 East Williams Field Road
BUILDING SIZE:
 21,900 SF
YEAR BUILT: 2005

Related Links:

ORION Represents Seller in Fry's Shadow Anchored Shops - Real Estate Daily News

ORION Represents Seller in Fry’s Shadow Anchored Shops - ORION Top 5

SOLD: NNN Leased Daycare Property | Phoenix AZ

ORION Represents Both Buyer and Seller in Local Daycare NNN Investment

January 17, 2018 | Phoenix, AZ

PHOENIX – ORION Investment Real Estate facilitated the sale of a fully occupied, freestanding building for $385,000, or $196 per square foot. Selling at a 10.3% cap rate, the building was NNN leased to a local daycare operator, who currently has two other locations, and went under extensive renovations in 2017. The property is located within a residential neighborhood in East Phoenix, off of 30th Street between Osborn and Thomas Road. The SR-51 Freeway is located less than one mile to the east of the property. Phoenix Children's Hospital is also located less than one mile away.

Nick Miner, CCIM, and Jennifer Eggert of ORION Investment Real Estate represented both sides of the transaction. Miner said, "This was a win-win situation for both Buyer and Seller. This is a great first property for an investor getting into commercial real estate with little downside and a good return going in."

The Seller was RSK Investors, LLC. The Buyer was locally-based Reddy Partners, LLC. This was the Buyer's first venture into a commercial real estate transaction and liked this property because of its location within the neighborhood. The fact that the potential downside could be offset by the rising residential market in the immediate area was enticing and offered great return for the property.

Nick and Jennifer have another high return daycare for sale that is a different operator for their Seller. For more information on their listing, please: click here.

Address: 2946 E Cheery Lynn Road, Phoenix, AZ
Sales Price: $385,000
Cap Rate: 10.3%
Building Size: 1,960 SF
Total Lot Size: 0.2 Acres
Year Built: 1950 / Renovated 2017

Related Links:

Orion Handles Both Sides in Local Daycare NNN Investment - Real Estate Daily News

SOLD: Owner/User Retail Center in East Phoenix – Off Market

ORION Reps Buyer in East Phoenix Retail Sale
December 19, 2017 | Phoenix, AZ

PHOENIX – ORION Investment Real Estate facilitated the sale of a freestanding retail building, located along Cave Creek Road, for $350,000 ($69/SF). The building exhibits excellent visibility and frontage, with over 25,000 vehicles passing per day on Cave Creek Road. It is also ideally situated near State Route 51. The building was fully occupied at close of escrow.

Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the Buyer. Miner said, "This was an off-market transaction, where the Buyer was a tenant and a longtime client of mine. They wanted to purchase the property and after 3+ years, it finally came together.”

The Seller was Swati Plaza, Inc. The Buyer was Jax Real Estate, LLC.

Property Information:
16402-16406 N Cave Creek Road
Phoenix, Arizona 85032
Built in 1982
+/- 5,082 SF

For more information, call!

 

SOLD: Owner/User Office Warehouse in South Scottsdale

ORION Facilitates Owner/User Sale in South Scottsdale

December 5, 2017 | Scottsdale, AZ

SCOTTSDALE – ORION Investment Real Estate recently negotiated the owner/user office building sale, located at 8101 East McDowell Road in Scottsdale, for $2,200,000 ($127/SF). It consists of approximately 18,000 square feet of office and warehouse space with three roll-up doors, situated in an excellent central location with easy access to the Loop-101, Loop-202, Scottsdale Road and Hayden Road. The property is located just east of the southeast corner of McDowell and Hayden Roads, in the bustling McDowell Road Corridor.

Nick Miner, CCIM, and Judi Butterworth of ORION Investment Real Estate facilitated the owner/user sale. Miner said, "This was a win-win transaction. The Seller was able to downsize into the property under a lease back, while the Buyer was able to have a tenant occupy a small portion of the property, as they grow into the entire property."

The Seller was Republic West Real Estate Holdings, LLC. The Buyer was Primos Development, LLC.

Republic West Building
8101 East McDowell Road
Scottsdale, Arizona 85257
Built in 2004
+/- 18,000 SF

For more information, call or email me!

Related Links:

Owner/User Building in South Scottsdale Sells for $2.2 Million - Real Estate Daily News

ORION Facilitates Phoenix Office Property Sale - ORION

ORION Facilitates Phoenix Office Property Sale - Commercial Property Executive Magazine

Orion Investment Real Estate Ends 2017 with $50M in December closings - Real Estate Daily News

Commercial Real Estate & Business News – October 4, 2017

Investors continue to buy fewer apartment properties than they did last year. Yet prices continue to rise. "It's another down month for volume, but prices are still increasing," says James Costello, senior vice president for Real Capital Analytics (RCA), a New York City-based research firm. Usually prices fall when transaction activity slows..»
The not seasonally adjusted (NSA) national construction unemployment rate was 4.7 percent in August, down 0.4 percent from a year ago and the lowest August rate on record, the U.S. Bureau of Labor Statistics (BLS) reported. Unemployment rates were also down in 35 states on a year-over-year basis...»
In order for retailers to thrive and remain viable long term, they must continue to evolve to meet changing needs and consumer demands. If they don't evolve they go extinct, as we have seen over the last 20 years. A current example is that of the department store concept. In their 1970s heyday, they were the only major shopping option for consumers..»
A Phoenix apartment development has been sold for $125.5 million. Business Real Estate Weekly of Arizona reports that Florida-based PrideRock Capital Partners bought the IMT Deer Valley multifamily complex from California-based IMT Residential. It's been renamed Heritage at Deer Valley. The Deer Valley complex has 832 units..»
Several commercial real estate industries could face a deepening labor shortage in coming years due to proposed immigration policies. If enacted, policies restricting legal immigration could make it increasingly difficult to fill various positions in the industry, according to a recent Cushman & Wakefield report...»
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