Orion Archives

ORION closes outparcel of Westgate Entertainment District

by in AZRE Magazine

Located within one of the largest entertainment and retail districts in Arizona, Westgate 95, a 7,539 square foot retail center, sold for $1,500,000 ($199/SF). Built in 2008, Westgate 95 is located steps away from Westgate Entertainment District, which offers a unique outdoor setting with many vibrant restaurants that include: Johnny Rockets, Buffalo Wild Wings, Saddle… Read More →

Sunstate Bank Plaza in Chandler sells for $1.61M

Sunstate Bank Plaza, located at 1727 North Arizona Avenue in Chandler, sold for $1,610,000 at $85.57/SF. This flex building is a mix of retail, office, and industrial, totaling 18,818 rentable square feet. Situated on approximately 1.79 acres, the property was constructed in 1979 and renovated in 2001. The building was 85% occupied at close of… Read More →

The Shops at OdySea locks down first wave of retailers

If you drive along the 101 Freeway in Scottsdale, you cannot miss the 60-foot tall concrete tilt walls standing upright just north of Via De Ventura. Anchored by one of the largest, most technologically advanced indoor aquariums to be constructed in the United States, OdySea in the Desert has now released its first wave of retailers… Read More →

Rosecrest Apartments in the heart of midtown sells for $929K

ORION announced that Rosecrest Apartments has sold for $929,000, or $61,933/unit. The property is well-located in the heart of Midtown on 3rd Avenue and Camelback Road. Situated on an approximate half-acre of land, Rosecrest Apartments is comprised of three block-constructed buildings totaling 15 units. The property is individually metered for electricity and was 100% occupied… Read More →

North Scottsdale shopping center sells for $11.5M

Northsight Village Shopping Center, an 88,031 SF retail center built in 2001, sold for $11.5M. The property is located on Northsight Boulevard just north of Raintree Drive adjacent to The Home Depot, Costco, Sam’s Club, Walmart Supercenter, and is surrounded by millions of square feet of retail, office and residential as well as the Scottsdale… Read More →

Freeway Village sells for $5.75M

by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the closing of the Freeway Village located at 1455 South Stapley Drive in Mesa, Arizona for $5,750,000 ($63/SF) to a partnership between Schneider Family I, LLC based in Beverly Hills and the Weil Ernst Trust based in Mesa. The Seller was Freeway Village Shopping Center, Inc. based in Boulder, CO. The… Read More →

The Glen Condos sell for $5M

by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate is pleased to announce the successful sale of The Glen condominiums located near 63th Avenue and Bethany Home Road in Glendale, Arizona.  The condominium complex consists of 200 total units, of which 129 were just sold for $5,000,000.  The Seller in the transaction was Janet Azar and David Farjoodi of The… Read More →

Nick Miner appointed to CCIM executive committee

  The CCIM Institute, one of the largest commercial real estate networks in the world, announced its 2015 leadership teams during the organization’s annual conference in Los Angeles on Oct. 17. The CCIM Institute confers the Certified Commercial Investment Member (CCIM) designation, commercial real estate’s global standard for professional achievement. Nick Miner, CCIM, Vice President… Read More →

Campbell Shops at 24th sell for $2.3M

by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the closing of the Campbell Shops at 24th Street located at 4517 North 24th Street in Phoenix for $2,300,000 ($263/SF) to Santa Fe Arms LLC, managed by Steve Olafson in Scottsdale, Ariz. The seller was Greenfield-Inverness, LLC based in Phoenix. The property was 57 percent occupied at time of closing.… Read More →

Cox Communications building to be redeveloped as apartments

ORION Investment Real Estate announced Thursday night the closing of a single-story office/warehouse building, located at 160 S. MacDonald in Mesa, Arizona for $750,000 to Cardinal Capital Management, Inc. “The buyer plans to redevelop the site into an apartment community and wanted to be close to the future light rail stations,” says Nick Miner, Vice… Read More →

Danny’s Family Car Wash in Scottsdale sells for $2M per acre

ORION Investment Real Estate is pleased to announce the successful ground lease sale of the Danny’s Family Car Wash located at 15515 N. Scottsdale Rd. in Scottsdale, Ariz., for $6.5M to Pacific Scottsdale, LLC. The seller was Scottsdale Place, LLC. The car wash, detailing center, gas facilities and 2 convenience stores, totaling approximately 17,700 square… Read More →

Union Hills Square retail center sells for $2.86M

by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the closing of Union Hills Square, a 11,960 SF multi-tenant retail pad, located in Glendale, Ariz., for $2,861,250 ($239 SF) to Cave Cree Capital Partners of Scottsdale, Ariz. “This is the second asset we have represented CCCP on purchasing from a lender this year” explains Andrew Harrison, Vice President at… Read More →

ORION sells 44-unit Carole Arms apartments

by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the sale of Carole Arms Apartments, a 44-unit apartment complex located at 2535 W. Coolidge St. in Phoenix. The property sold for $1,159,500 ($26,352 per unit). Built in 1985, Carole Arms Apartments consists of one & two-bedroom units that feature a wide array of amenities. These include all electric gourmet… Read More →

ORION negotiates sale of 34-unit apartment complex in Surprise

by in AZRE Magazine | Brokerage

ORION Investment Real Estate is pleased to announce the sale of Saguaro Heights, a 34-unit apartment complex in Surprise, Ariz., for $1.3M.  The property was built in 1987 and was 95% occupied at the time of sale.  It consists of 2 bedroom, 1.5 bath townhome units and is located near the intersection of El Mirage… Read More →