Phoenix, AZ – Nick Miner, CCIM and J.T. Taylor of ORION Investment Real Estate, report selling a 2,543 square foot office building just north of the northeast corner of 32nd Street and Osborn Road for $685,000 or $269 per square foot. Miner and Taylor represented the Seller in the transaction, Victory Enterprises, LLC, who Miner has worked with for more than 20 years.
Located in the popular Camelback Corridor at 3411 North 32nd Street, the property benefits from the synergy created by the surrounding Biltmore offices, the wide variety of food options, proximity to Phoenix Sky Harbor Airport, and the central access to Phoenix’s major freeway systems. The area has experienced surging lease rates, making purchasing an owner/user property like this a better financial decision for tenants.
Nick Miner, CCIM, Senior Vice President at ORION commented, “This property garnered a lot of interest, and we were able to take it from open to close in just 50 days. There are only 4 freestanding offices at 32nd Street & Osborn. When one of these properties comes available for sale, they sell quickly.”
J.T. Taylor, Vice President at ORION noted, “The Buyer plans to relocate to this office. They were drawn to the property because of its location. It is a short drive to Esplanade, Biltmore, Downtown Phoenix, Sky Harbor, etc.” The Buyer, Platypus Real Estate Holdings, LLC was represented Laurel Lewis of NAI Horizon.
Miner continued, “The sellers had owned the property for over 18 years and were glad that the new owner will be able to operate their business like they did at the location.”
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