The Hardy in Tempe sells for $500K per unit

Real Estate | 22 Jun, 2021 |

The Hardy luxury townhomes, located at 909 West 2nd Street, sold today for $10,000,000, $500,000/unit, or $292.91/square foot. This is the highest price per unit recorded in the past two years for a 20+ unit multifamily project in the Phoenix Metropolitan Area. Linda Fritz-Salazar and Angelessa Ritchie of ORION Investment Real Estate represented the California Buyer in this transaction. The Seller, Pacific Rim Property Investments Ltd., was also the builder/ developer that completed the luxury townhome project in 2020.

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The Hardy luxury townhomes are located in the rapidly growing zip code of 85281 in Tempe, in a neighborhood known as the Farmers Arts District. This neighborhood has seen a plethora of luxury units pop up, with developers and investors wanting to take advantage of all the area has to offer, from an exceptionally high demographic of young professionals with degrees, to a plethora of jobs, entertainment, and travel options nearby. Arizona State University, which is in the top 1% of universities in the US and is #1 in Innovation and Global Impact, is just walking distance from the property; Phoenix Sky Harbor Airport is only an 8 minute drive away.

Business Partners, Linda Fritz-Salazar and Angelessa Ritchie, made a joint statement about the sale, “We are excited about this newest development, as it is a great addition to Tempe’s vibrant and energetic community. It’s ideally located in the heart of Tempe, within walking distance to Arizona State University, Sun Devil Stadium, Mill Avenue’s Entertainment District, Tempe Town Lakes, ASU Gammage Theater, Tempe Center For The Arts, as well as a multitude of restaurants and amenities that serve the community.”

ORION Investment Real Estate (“ORION”) is a leading full-service brokerage firm based in the Western United States. With 10+ years of continued growth and success, and more than a billion dollars in recent transactions, the ORION team provides first-class service to the commercial real estate community. Boasting an extensive knowledge of the market and properties and a tech-forward environment, ORION uses a tailored marketing and structured approach to each client to unlock the potential of each unique deal. ORION is headquartered in Old Town Scottsdale, Arizona.

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