Restaurant Property Sale in Mesa Next to Bell Bank Park

Restaurant Property Sale in Mesa

MESA, AZ, March 6, 2023 – Nick Miner, CCIM of ORION Investment Real Estate, reports a 5,205 square foot restaurant property sale in Mesa, located just west of the northwest corner of Ellsworth Road and Germann Road. The property is located in the Southgate Commerce Park which is just south of the new Bell Bank Park, a 320-acre sports complex, for $2,300,000, $442 per square foot.

The restaurant property sale in Mesa included the real estate and the business assets. Miner represented the seller in the transaction, Ats-A-Nice Properties, LLC.

Mesa is a city just east of Phoenix, in Arizona. Mesa Grande Cultural Park is home to a giant, centuries-old ceremonial mound, and artifacts of the ancient Hohokam people. Bell Bank Park is a multi-purpose complex, designed to fulfill the mission of Legacy Cares. The park hosts Legacy Sports USA‘s youth, adult, and amateur sports teams and serves as a venue for events, concerts, youth sports tournaments, and fitness opportunities. a multi-purpose complex in Mesa.

Legacy Cares, Inc. (Legacy Cares), the owner of Bell Bank Park, is a 501(3), dedicated to creating life-changing opportunities for all individuals through access to family entertainment facilities centered on youth sports.

It opened on January 7, 2022, and is operated by Legacy Cares, Inc.

Nick Miner, CCIM, Senior Vice President at ORION commented, “This was a win-win transaction. The buyer is excited about purchasing an operating restaurant while the seller is able to relocate out of state.” Miner continued, “This is the only existing local restaurant building in the area serving the new Bell Park. The new owner is going to do really well at this location.”

The buyer, New Legacy Development and Investments, LLC., was self-represented.

For more information, Miner should be contacted at 480.612.0384.




ORION Reps Buyer in Land Sale

29th Street and Van Buren, Phoenix, AZ

PHOENIX, ARIZONA – ORION Investment Real Estate facilitated the sale of a 1.65-acre site located on the southwest corner of 29th Street and Van Buren. The land was purchased for $850,000, or $11.86 per square foot. An affordable housing project is proposed to be built on the site.

Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the Buyer. Miner said, “This is the third land site I have helped Cardinal Capital acquire and we are currently looking for more sites for them.”

The Seller was represented by Gene Minchuk of Realty One Group.

 




ORION Represents Seller in Fry’s Shadow Anchored Shops

GILBERT, Arizona – Located along the Loop 202 retail corridor in Gilbert, within proximity to multiple new developments of retail, office, automotive, education, and residential, Gilbert Fiesta Shops sold for $3.5 million at a 7% cap rate. The 21,900-square foot shopping center was built in 2005 in the booming southeast valley of Phoenix. Gilbert Fiesta Shops is leased by both local and national tenants, including Leslie’s Swimming Pool Supplies, State Farm, and Battery Giant. The property was 100% occupied at close of escrow.

Nick Miner, CCIM, and Andrew Harrison of ORION Investment Real Estate represented the Seller in the transaction. Miner said, “The Seller purchased this property as a distressed center with high vacancy in 2015. The Seller was able to release the property and capitalize on the value created by the Seller’s repositioning plan. The Buyer utilized a reverse 1031 exchange to purchase the property.  The Buyer liked the stable cash flow that the property will be offered, as well as the location in the fast-growing City of Gilbert, Arizona.”

The Seller was locally-based Gilbert Fiesta II Lots 2 & 3 LLC. The Buyer, Grove Arizona, LLC, was represented by Sean Bishop, CCIM of Lee & Associates.

Miner and Harrison are representing the Seller of the PAD building, currently in escrow with an owner/user. For more information, contact Miner and Harrison at 480.689.4124.