RETAIL PROPERTY IN NORTHWEST PHOENIX SOLD
PHOENIX, AZ –Nick Miner, CCIM of ORION Investment Real Estate, reports selling an 8,318 square foot retail building on the northwest corner of 53rd Avenue and Bell Road for $3,150,000 or $378 per square foot. Miner represented the Buyer in the transaction, Corridor Living, LLC, who Miner helped recently sale 4600 N Central Avenue in Phoenix.
Located in the larger Desert Glen Shopping Center that is anchored by Kohls, this four tenant strip center was 100% occupied at time of closing. The tenants in the property that was purchased are Crazy Mike’s Subs, Music & Art, Gravitate and Oscar’s Taco Shop. This is a good mix of national and local tenants.
Nick Miner, CCIM, Senior Vice President at ORION commented, “I have been working with my client for some time trying to find a replacement property for his 1031. When this came available, we quickly moved to secure the asset for him.”
Miner continued, “This completes my clients 1031. It is going to be a great long term ownership opportunity with great cash flow for him for many years to come.”
Seller, McLean Holdings, LLC, was represented by Danny Gardiner and Chad Tiedeman at PCA.
RELATED LINKS:
Orion Investment Real Estate Brokers $3.1 Million Acquisition of Retail Building in Phoenix – Shopping Center Business
Retail Property in Northwest Phoenix Sold for $3.15 Million – Real Estate Daily News
Retail Property in Northwest Phoenix Sold for $3.15 Million – Opera News
West Valley industrial and medical office buildings sell; plus 14 other real estate deals rounded up – Phoenix Business Journal