PHOENIX, Arizona – Situated on the southeast corner of Missouri Avenue and 12th Street, this 8,700-square-foot, mid-century style office property closed for $1,275,000, or $147 per square foot. 1215 East Missouri Avenue office features three, single-story buildings and sits on approximately 1.06 acres of land. There is potential for redevelopment using the existing R-5 zoning. It is located less than one mile from the SR-51, near the Biltmore Fashion Park, and less than 15 minutes from Phoenix Sky Harbor International Airport.
Nick Miner, CCIM, and JT Taylor of ORION Investment Real Estate exclusively represented the Seller, BGP II, L.L.C. Miner said, "Seller is a long-time client and needed to expand. The cost to retrofit the property exceeded the amount Seller was wanting to reinvest into the property in the short term."
"We selected the Buyer, Moulin Investments, LLC, after receiving several competitive offers." ORION’s marketing efforts produced several offers in a short period of time. "At the end of the day, this Buyer was selected because not only did they meet the terms, but they also agreed to the terms that were equally important."
The Buyer, Moulin Investments, LLC, was represented by Courtney Auther Van Loo of Phoenix Commercial Advisors.