ORION Investment Real Estate Archives

Orion sells multi-tenant retail complex for $8.9M

ORION
by in AZRE Magazine | Retail

ORION Investment Real Estate negotiated the sale of a Mountain Side Fitness anchored retail center, Plaza at the Orchards, which sold for $8.9 million to a Gilbert-based buyer. Terra Marketing, Inc. purchased the 52,134-square-foot center, which is located near Bell and Reems Roads was 100 percent occupied at the close of escrow. Ari Spiro and Sean Stutzman, President… Read More →

ORION sells Red Devil Center for just over $2M

red_devil_02
by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the sale of Red Devil Center for $2,060,000 ($113/SF). This ±18,170 square foot retail strip center is located just west of the northwest corner of the high traffic intersection, Southern and Mill Avenue. The property is shadow anchored by Fry’s Food Store. Red Devil Center was 81% occupied to stabilized,… Read More →

Tempe retail center sells for $7.5M

Tempe retail center
by in AZRE Magazine | Brokerage | Retail

A Tempe retail center, Countryside Specialty shops, sold for $7,500,000, according to ORION Investment Real Estate. This ±31,723 square foot, vibrant retail strip center sits on the northwest corner of McClintock Drive and Warner Road at a signalized intersection, with high traffic counts. The property was sold by JDS Countryside LLC/DLS Countryside LLC. Morris Family Trust… Read More →

CBRE completes sale of Tamarron Apartments

Tamarron Apartments
by in AZRE Magazine | Brokerage | Multi-Family

CBRE completed the sale of the Tamarron apartments, a 328-unit multifamily community located at 4410 N. 99th Avenue in Phoenix, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller. Joseph Dietz with Orion Investment Real Estate represented the buyer. “Tamarron is ideally… Read More →

ORION closes Foothills Park Plaza for $3.125M

Foothills Park Plaza
by in AZRE Magazine | Brokerage | Retail

A once maligned, but well-located shopping center in the heart of one of Phoenix Metropolitan area’s best master-planned communities, is returning to its former glory after its $3.125 million sale. Foothills Park Plaza is located on the southwest corner of Chandler Boulevard and Desert Foothills Parkway in the affluent area of the Ahwatukee Foothills master-planned… Read More →

Denny’s leased NNN Investment sold

NNN Investment
by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the sale of the single tenant, NNN Investment property leased to Denny’s for $1,933,000 ($339/SF) at a 6 percent cap rate. This ±5,695 square-foot freestanding building was built in 1974 and is undergoing renovations in 2016. The property is alongside the I-17 Black Canyon Freeway, with approximately 202,570 vehicles passing… Read More →

ORION completes off-market multifamily transaction

ORION
by in AZRE Magazine | Multi-Family

ORION Investment Real Estate facilitated the sale of The Hayward Apartments, a 16-unit apartment community located near the corner of 19th Avenue and Northern Avenue in Phoenix, for $1,150,000. The Hayward Apartments is just two blocks west of the new Metro Light Rail expansion line on 19th Avenue. Constructed in 1985 and renovated in 2014,… Read More →

ORION Investment Real Estate adds Judi Butterworth

JudiMain
by in AZRE Magazine | Newsmakers

ORION Investment Real Estate announced that Judi Butterworth joined the firm as Senior Vice President in February.  Judi has been leasing and selling shopping centers for more than 35 years.  Consistently a top producer, Judi has closed over half a billion dollars in transactions, inclusive of big box re-leases, shopping center sales, outparcel sales, and… Read More →

ORION adds retail real estate veteran to roster

Arizona Business People & Promotions
by in AZRE Magazine | Newsmakers

Tim Gunnink joined ORION Investment Real Estate as senior vice president, specializing in retail and land investment sales. Gunnink will use years of experience to help buyers and sellers of shopping centers and retail land accomplish goals. His background includes an intimate knowledge of retail real estate development, leasing and sales, working through all phases… Read More →

Central Corridor complex sells for $2.75M

West Glen

ORION Investment Real Estate sold West Glen, a one- and two-story apartment community located at 911 & 917 West Glendale Avenue in Phoenix, for $2,750,000 ($72,368/unit). Constructed in 1954, 1959 and 1963, West Glen is comprised of 38 rental units, which includes a single-family residential home. The property is located in the Central Corridor of Phoenix,… Read More →

ORION sells Mesa neighborhood center for $3.9M

Power Road

ORION Investment Real Estate has sold Power Road Plaza for $3,895,000 or $97/SF. This ±40,240 square foot retail/office plaza was constructed in 1974 and has undergone extensive renovations over the years, with the most recent one completed in 2014. The property has great frontage along Power Road and is located across the street to the… Read More →

CorePower Yoga replaces old print shop on Mill Ave.

Mill Ave

ORION Investment Real Estate has announced the sale of a single-tenant retail building for $1,200,000, or $371.75/SF. The property is located in the heart of bustling Tempe on renowned Mill Avenue, just south of University Drive. The free-standing building is well-situated, located adjacent to Arizona State University’s Main Campus, and a short drive from the Phoenix… Read More →

ORION closes three apartment properties in North Phoenix

The Franciscan

ORION Investment Real Estate has sold three separate apartment communities located in the emerging North Phoenix/19th Avenue Corridor. All properties are in close proximity to the Light Rail and are near major shopping anchors, as well as new, ground-up infill developments. Located off of Glendale Avenue and 19th Avenue, Villa Ventura sold for $3,197,500 ($63,950/unit). Located… Read More →

ORION announces two multifamily transactions in Phoenix

Maryland East Apartments

ORION Investment Real Estate has announced the sale of two small apartment communities located in the Phoenix MSA. Located off the Loop 202 Freeway and Van Buren Street, Belaflora Condominiums sold for $1,255,000 or $83,667 per unit. This 15-unit portfolio sale of Class “A” Condos is part of a larger 185-unit complex within a strong… Read More →