APACHE JUNCTION, AZ – Nick Miner, CCIM of ORION Investment Real Estate, reports selling the 6,355 square foot, multitenant retail strip center located on the southeast corner of Broadway and Ironwood in Apache Junction for $975,000.00 or $154 per square foot. The property was 50% occupied by Leslie’s Pools (LESL – publicly traded).
Apache Junction is named for the junction of the Apache Trail and Old West Highway. The area where Apache Junction is located used to be called Youngberg, AZ. Superstition Mountain, the westernmost peak of the Superstition Mountains, is nearby. The iconic range is home to some of the state’s most photographed trails as well as the Weavers Needle formation, Peralta Canyon, and the fabled Lost Dutchman’s Gold Mine.
Nick Miner, CCIM, Senior Vice President at ORION commented, “This was a great opportunity for both the Buyer and the Seller. The Buyer was able to purchase a well located, value add strip center for a good price. The Seller is able to further expand their development business with the freed-up capital.”
From Opening of Escrow to Closing, the process was under 60 days.
Both the Buyer, Broadway Ironwood Center, LLC, and the Seller, MORE Broadway Ironwood, LLC, were represented by Nick at ORION.
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