ORION Closes Bell Plaza in Northwest Phoenix
PHOENIX, Arizona – ORION Investment Real Estate is pleased to announce the sale of Bell Plaza, located at the signalized corner of 17th Avenue and Bell Road, for $3,275,000 ($229 PSF). Bell Plaza is a 14,320-square-foot strip center, situated on approximately 1.41 acres.
With ample on-site parking and visible monument signage, the property has always maintained a higher than market occupancy rate for the immediate area. The property boasts good demographics with over 135,000 people within a three mile radius. Bell Plaza has a great mix of national and local tenants, including Cricket Wireless, Amelio’s Pizza, and Finish Line Bar, to name a few. At the time of sale, there was only one small vacant space.
Nick Miner, CCIM, of ORION Investment Real Estate represented the Seller in this transaction. “Buyer was in a 1031 exchange and identified this property as their replacement. Both Buyer and Seller were able to achieve a win-win on this transaction,” noted Miner.
The Buyer, S.M.G. Investments, LLC, was self-represented and said of Nick Miner, “Thank you for your assistance and professionalism in this trade.”