SOLD: Investment Retail Property in Scottsdale Trades for $455 Per SF

SCOTTSDALE, AZ – Nick Miner, CCIM of ORION Investment Real Estate, reports selling a 12,753 square foot single-tenant, retail building just West of the Northwest corner of Arizona Loop 101 and Frank Lloyd Wright Boulevard in Scottsdale for $5,805,000 or $455 per square foot. The property was 100% occupied by Van’s Golf. Miner represented the seller in the transaction, Van’s Golf Properties, LLC., who Miner helped earlier this year liquidate three other assets.

Located in the beautiful Sonoran Desert, Scottsdale, Arizona is bordered by Phoenix to the West and the McDowell Mountains to the East. The city of Scottsdale is an exciting and dynamic community that has matured since its incorporation in 1951 as a city of 2,000 citizens, into the sophisticated and cultured Southwestern city of today. The city continues to grow each year and has seen a nearly 10% increase in population since 2000. Scottsdale boasts a highly educated population with 46% of individuals 25 and older having at least a bachelor’s degree, significantly higher than the state or national percentages. Additionally, income levels in Scottsdale are among the highest in the state. This is truly a community where economic prosperity and lifestyle converge.

Nick Miner, CCIM, Senior Vice President at ORION commented, “I am grateful for the opportunity to have helped my client dispose of their final real estate holding in Arizona.”

Miner continued, “The buyer was able to get one of the nicest properties in Scottsdale with amazing visibility and frontage along Frank Lloyd Wright Boulevard.”

Buyer, FLW STV, Properties, LLC., was represented by John Asher of AT Real Estate.