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nick@nickminer.com  480-612-0384

SOLD: FREESTANDING RETAIL BUILDING IN ARCADIA LITE TRADES FOR $218/SF

 

PHOENIX 2501 East Indian School Road, situated in the heart of Arcadia Lite, sold off-market this past week for $534,000 or $218 per square foot. Andrew Harrison and Nick Miner, CCIM of ORION Investment Real Estate, represented both the Buyer (Cameron 2, LLC) and the Seller (Revocable Living Trust of William James Milne). Harrison and Miner took the property from open to close in just 48 days.

2501 East Indian School Road, formerly “Trails,” has excellent visibility along Indian School Road, in a rapidly growing area of Camelback East Village known as “Arcadia Lite.” The Camelback East Village neighborhood is one of the most prominent neighborhoods in the valley, encompassing the plush Biltmore and Arcadia districts as well as portions of east Phoenix’s business district at 24th Street and Camelback. More and more retailers have moved to the area, serving the affluent residents of the surrounding neighborhoods.

The subject property is a free-standing two story retail building, zoned C-2, constructed in 1940. The property was vacant at the time of the sale.

Nick Miner commented on the transaction, “This property was never really on the market. The buyer saw the immediate value in the location and potential.” Andrew Harrison noted, “This is the second transaction we have assisted the buyer with this year.”

 

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