ORION Investment Real Estate Archives

Former MIKID corporate headquarters closes escrow

by in AZRE Magazine

ORION Investment Real Estate negotiated the sale of the former MIKID corporate headquarters for $535,000 ($101/SF). This single user office is located along Thomas Road near 24th Street. Surrounding the property is Phoenix Children’s Hospital, Phoenix Country Club, Camelback Esplanade, Biltmore Fashion Park and several local parks. Within five miles of the property, the population is… Read More →

Loco Patrõn Mexican Brewery expands to North Scottsdale

Loco Patrõn Mexican Brewery
by in AZRE Magazine

Longtime Valley restaurant operator, Loco Patrõn, leased the former Salty Senorita building on Northsight Boulevard for a new Loco Patrõn Mexican Brewery. The area is bustling with new restaurants, retailers and multifamily development. A luxury 297-unit apartment building is being constructed directly behind the Loco North building, along with the popular breakfast and weekend brunch… Read More →

Land near Baseline Road and Central Avenue sells for $1M

baseline road
by in AZRE Magazine | Site Selection

ORION Investment Real Estate recently negotiated the land site located at 123 E. Baseline Rd. in Phoenix for $1,030,000 ($8.75/SF). Situated east of the southeast corner of Baseline Road and Central Avenue, the vacant land totals ±2.70 acres and is zoned C-2. It is located adjacent to an Arby’s. and surrounded by other retailers and… Read More →

Glendale hospital-adjacent medical campus sells for $10.85M

by in AZRE Magazine | Medical

Five of the eight buildings comprising a medical campus in Glendale near the Banner Thunderbird Medical Center sold for $10,850,000 ($229.61 PSF). The transaction included a 47,254 square feet controlling interest of prime medical office space within Thunderbird Palms Medical Campus. The Thunderbird Palms offering represented a rare opportunity to acquire modern, net leased, hospital adjacent, medical… Read More →

Northsight Village III sells for $1.475M

Northsight Village III
by in AZRE Magazine | Brokerage

Northsight Village III, a 8,532 square foot retail building, closed for $1,475,000 ($172.88-per-square-foot). The building was occupied by AVIS Rent a Car and Traders Smoke Shop at the close of escrow. Judi Butterworth and Derek Buescher of ORION Investment Real Estate represented the seller, LES and NSS Irrevocable Trust, in this transaction. The buyer was… Read More →

Page retail center sells for $1.95M

by in AZRE Magazine | Brokerage | Retail

ORION Investment Real Estate negotiated the sale of Gateway Park Shopping Center, on behalf of the seller, for $1,950,000 ($23.84-per-square-foot). The property was sold by CopperPoint Mutual Insurance Company. D&S Gardner 3, LLC purchased the asset, who was represented by a local broker in Page, Arizona. Gateway Park Shopping Center is located at the intersection of… Read More →

Orion sells multi-tenant retail complex for $8.9M

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

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

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

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 →