SCOTTSDALE, Arizona – ORION Investment Real Estate is proud to announce the sale of the freestanding Arby’s Restaurant at 2110 North Arizona Avenue in Chandler for $1.35 million ($409 PSF). Built in 1987 and renovated in 2008, totaling 3,300-square-feet, the property is fully occupied by Arby’s.
The property is just north of Warner on Arizona Avenue with great visibility. Other tenants in the immediate area include Dunkin' Donuts, Quick Trip, PGA Golf Tour, and AMF Bowling.
Nick Miner, CCIM, Senior Vice President and Derek Buescher, Vice President at ORION Investment Real Estate, represented the Seller in this transaction.
Miner says, "The seller purchased the former East Valley Mall a couple years ago to redevelop/re-position. Part of the plan was to sell off the smaller properties that were already under long term leases. This is one of the properties. Our marketing efforts produced multiple offers before selecting this Buyer, who was in a 1031 Exchange."
The building was purchased by Orwell, LLC. The Seller was Easy Valley Partners, LLC.
For more information, Miner should be contacted at 480.612.0384 and Buescher can be reached at 480.689.4146.