SCOTTSDALE, Arizona – Situated along Civic Center Plaza, the ±16,919-square-foot Scottsdale Medical Building closed for $2.65 million ($156.63 PSF). The building sits adjacent to HonorHealth Scottsdale Osborn Medical Center. Nearby amenities include Scottsdale Stadium, Civic Center Mall, Scottsdale Fashion Square, and Old Town Scottsdale’s shopping, bars and restaurants.

J.T. Taylor and Nick Miner, CCIM of ORION Investment Real Estate exclusively represented the Buyer. “The Buyer was able to acquire one of the few medical office properties adjacent to HonorHealth Scottsdale Osborn Medical Center. The Buyer plans to renovate and re-position the property in order to re-lease the remaining space,” said Taylor.

The Buyer was 6 Turns, LLC, a subsidiary of SEBO Enterprises, LLC. The Seller was 3271 Civic Center, LLC, represented by Kelly O’Dea of LevRose.

PHOENIX, Arizona – Situated on 2.15 acres, this excellent infill development recently sold for $840,000 ($8.97 PSF). The site is located just south of the southwest corner of Cambridge Avenue and 27th Street in Central Phoenix.

Nick Miner, CCIM and J.T. Taylor at ORION Investment Real Estate represented the Seller in this transaction. “This was a great infill redevelopment property. Before we were involved in the marketing efforts, a previous buyer was planning to build 10 single-family lots on the property. The new Buyer intends to construct a development that has more density and will be a product that they have already developed on other sites in the immediate area,” said Miner.

The Seller was Two Blonde Chicks, LLC, represented by ORION. The Buyer, Arcadia 1, LLC, was represented by Remo Paul at Realty One Group.

PHOENIX, Arizona – ORION Investment Real Estate announced the sale of Indian School Plaza, located near the corner of 31^st Avenue and Indian School Road, for $1.95 million ($30 PSF). Indian School Plaza is below replacement cost with an open air atrium design. The office building has strong demographics, with a population density of over 508,000 people within a five mile radius (2015). The building is located immediately adjacent to Interstate 17 and less than one mile from US-60 and Grand Canyon University. The property was 92% occupied at close of escrow.

Nick Miner, CCIM, and J.T. Taylor of ORION Investment Real Estate represented the Seller in this all-cash transaction. “Buyer was able to purchase a property significantly below replacement cost. There was also good existing cash flow because the property was over 90% occupied when the immediate vacancy rate was closer to 20%. The Buyer has plans for extensive capital improvements to the property to further enhance his investment, and the Seller sold this property because they were able to achieve their desired return and focus on their other projects,” noted Miner and Taylor.

The Seller, represented by ORION, was Arizona-Cal Note Investments 4.5, LLC. The Buyer, represented by Mike Wood and David Prusha of West USA Realty, was 3001 W Indian School, LLC.