PHOENIX, AZ – Nick Miner, CCIM and Andrew Harrison of ORION Investment Real Estate, reports representing the buyer in the 5,550-square-foot strip center just east of 24th Street on Indian School Road in Phoenix for $1.2 million, or $215 per square foot. The property was 100% leased at time of sale.
Camelback East Village has two primary cores: the 24th Street and Camelback Road core and the 44th Street and Van Buren Avenue core. Several prominent Valley landmarks, including the 914-acre Papago Park with an 18-hole golf course and Papago Baseball Facility, Phoenix Mountains Park and Piestewa Peak, the Phoenix Zoo and the Desert Botanical Gardens bring visitors from all over the state. Camelback East is also home to three five-star resorts that provide the ambience of housing and resort living in a planned community setting while offering extensive recreational opportunities.
“Finding retail properties on Indian School Rd between 24th Street and 44th Street has become increasingly difficult. We have been working with our client to purchase this property for over a year. The timing finally lined up for both our client and the seller.” Nick Miner, CCIM, Senior Vice President at ORION commented.
Andrew Harrison, Senior Vice President at ORION commented, “This sale marks the 7th transaction Orion has closed with this investor over the last 3 years.”
Seller, Mellen Properties, Inc., was self-represented in the transaction.
For more information, contact Miner at 480.612.0384 and Harrison at 480.220.1906.