• Skip to primary navigation
  • Skip to main content
       480-612-0384        nick@nickminer.com                     

Nick Miner, CCIM

  • Home
  • News/Blog
  • Properties
    • Listings
    • Recent Transactions
  • Market Reports
  • About
  • Contact
  • Consulting

SOLD: Indian School Plaza Office | Phoenix Arizona

March 15, 2017 by Nick Miner, CCIM    

ORION Closes Office Investment Property All Cash
March 16, 2017 | Phoenix, AZ

PHOENIX – ORION Investment Real Estate is pleased to announce the sale of Indian School Plaza, located near the corner of 31st Avenue and Indian School Road, for $1,950,000 ($30/SF). Indian School Plaza is below replacement cost with an open air atrium design. The office building has strong demographics, with a population density of over 508,000 people within a five mile radius (2015). The building is located immediately adjacent to Interstate 17 and less than one mile from US-60 and Grand Canyon University. The property was 92% occupied at close of escrow.

Nick Miner, CCIM, and J.T. Taylor of ORION Investment Real Estate represented the Seller in this all-cash transaction. “Buyer was able to purchase a property significantly below replacement cost. There was also good existing cash flow because the property was over 90% occupied when the immediate vacancy rate was closer to 20%. The Buyer has plans for extensive capital improvements to the property to further enhance his investment, and the Seller sold this property because they were able to achieve their desired return and focus on their other projects,” noted Miner and Taylor.

The Seller, represented by ORION, was Arizona-Cal Note Investments 4.5, LLC. The Buyer, represented by Mike Wood and David Prusha of West USA Realty, was 3001 W Indian School, LLC.

Indian School Plaza
3001 West Indian School Road
Phoenix, Arizona 85017
Year Built: 1972
Size: 65,090 SF

Additional PR Links:

Indian School Plaza Office Investment Sells for $1.95M – Real Estate Daily News

ORION Scoops Up Phoenix Office Building – Commercial Property Executive

Phoenix offices sell in all-cash deal – Phoenix Business Journal

Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

FOLLOW NICK ON TWITTER

  • Commercial Real Estate & Business News – March 4, 2021 #Phoenix #AZ #CRE #news https://t.co/mvefXBAGBj via @nickminer 08:43:06 AM March 05, 2021
  • Commercial Real Estate & Business News – March 4, 2021 #Phoenix #AZ #CRE #news https://t.co/HfY3eqd0j0 via @nickminer 08:42:28 AM March 04, 2021
@nickminer

Site Library

SITE CATEGORIES

Sign up for email updates

  • This field is for validation purposes and should be left unchanged.

×