GLENDALE, Arizona – Closing for $5.85 million, or $113 per-square-foot, Brittany Square totals approximately 51,554-square-feet and includes two pad buildings. Brittany Square is located at the major signalized intersection of 67th Avenue and Peoria. There was a tenant expansion during escrow, which increased occupancy to 64% at close.
Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the Seller, Arizona Brittany Square, LLC. Miner said, “I assisted the Seller in purchasing this property over 12 years ago and was extremely appreciative of the ability to assist them recently in the disposition of the property.” The Buyer, T Brittany Square, LLC, was in a 1031 Exchange and was purchasing this property along with another property out of state. The Buyer liked this property because it fit their typical profile of purchasing properties that they can re-lease and then parcel off as part of their value-add strategy that they employ.