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

SOLD: Bell Plaza Retail Center | Phoenix, Arizona

 

ORION Closes Bell Plaza in Northwest Phoenix
June 20, 2017 | Phoenix, AZ

PHOENIX – ORION Investment Real Estate is pleased to announce the sale of Bell Plaza, located at the signalized corner of 17th Avenue and Bell Road, for $3,275,000 ($229/SF). Bell Plaza is a 14,320 square foot strip center, situated on approximately 1.41 acres. With ample on-site parking and visible monument signage, the property has always maintained a higher than market occupancy rate for the immediate area. The property boasts good demographics with over 135,000 people within a three mile radius. Bell Plaza has a great mix of national and local tenants, including Cricket Wireless, Amelio’s Pizza, and Finish Line Bar, to name a few. At the time of sale, there was only one small vacant space.

Nick Miner, CCIM of ORION Investment Real Estate represented the Seller in this transaction. "Buyer was in a 1031 exchange and identified this property as their replacement. Both Buyer and Seller were able to achieve a win-win on this transaction,” noted Miner.

The Buyer, S.M.G. Investments, LLC, was self-represented and said of Nick Miner, "Thank you for your assistance and professionalism in this trade."

 

Bell Plaza
1704-1728 West Bell Road
Phoenix, Arizona 85023
Year Built: 1974
14,320 SF

Related Links:

ORION Closes Bell Plaza in Northwest Phoenix - Real Estate Daily News
ORION Closes Bell Plaza in Northwest Phoenix - Commercial Executive Magazine
CCIM Dealmakers - CCIM.com

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