SURPRISE, AZ (February 23, 2024) - ORION Investment Real Estate’s Nick Miner, CCIM reports facilitating a client in the acquisition of a multi-tenant retail PAD building at the southeast corner of Litchfield Road and Waddell Road for $2,400,000, or $300-per-square-foot. The retail PAD is part of the Boulevard at Surprise Pointe commercial development.
The 8,009-square-foot site within the Boulevard at Surprise Pointe was developed in 2009 and sits on 3.175 acres. The PAD is situated parallel to a planned 3,000 homes and adjacent to ESI Venture’s 154-acre mixed-use business park. The Boulevard at Surprise Pointe covers 290 acres and over 200,000 square feet of retail properties in the Heart of Surprise, Arizona. The project is anchored by AMC Theatres, Uptown Alley, and Walgreens and includes Dutch Bros, Cold Stone Creamery, Tap House Sports Grill, Tropical Smoothie Café, Quick Quack Car Wash, and more.
Nick Miner, CCIM, Senior Vice President at ORION, commented, “This is a great property for my client who plans to occupy and run his business at this location.” Miner continued, “To find an existing building that matched my client’s criteria in this trade area, we were in the right place at the right time.”
The building was formerly occupied by a tenant that closed abruptly and the Seller wanted to sell the building quickly.
Buyer, Fox Properties Surprise, LLC, was represented by Miner of ORION Investment Real Estate.
Seller, Parkview Realty Investments, LLC, was represented by Paul Blum of West USA.