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SOLD: Owner/User Office Condo | Scottsdale Arizona

 

SCOTTSDALE, AZ – Nick Miner, CCIM of ORION Investment Real Estate, reports selling the small office condo unit in the Paradise Lane Office Complex in North Scottsdale, Arizona for $511,000.00, or $285/Sq. Ft.

The City of Scottsdale is one of Arizona’s 10 largest cities with a population of more than 240,000. Scottsdale continues to be recognized nationwide as one of the top markets for business performance, job growth, livability and friendly culture. Scottsdale is dedicated to the success of its residents and business community. The city’s progressive leadership has kept taxes low for both families and corporations.

Nick Miner, CCIM, Senior Vice President at ORION commented, “There is a limited supply of small office condos in the area.  We were in escrow within 2 weeks of putting this on market.”  Miner further stated, “This was a great win for both parties.  The seller had recently relocated to an expanded office and no longer needed this location.”

Colt Siler, Vice President at ORION commented, “The buyer initially entered this deal as an owner/user.  After discovering the increasing demand of the surrounding area they ultimately decided to change directions towards renovating and offering it up for lease. Garrett and myself expect to be taking this to market for lease shortly after the first of the year as a fully renovated office pace.”

Seller, Paradise Lane Properties, LLC, was represented by Miner of ORION Investment Real Estate.

Buyer, Sirius Investments, LLC, was represented by Colt Siler and Garrett Hemeyer also from ORION Investment Real Estate.

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