PHOENIX, Arizona – ORION Investment Real Estate is pleased to announce the sale of Bell Plaza, located at the signalized corner of 17th Avenue and Bell Road, for $3,275,000 ($229 PSF).  Bell Plaza is a 14,320-square-foot strip center, situated on approximately 1.41 acres.

With ample on-site parking and visible monument signage, the property has always maintained a higher than market occupancy rate for the immediate area.  The property boasts good demographics with over 135,000 people within a three mile radius.  Bell Plaza has a great mix of national and local tenants, including Cricket Wireless, Amelio’s Pizza, and Finish Line Bar, to name a few. At the time of sale, there was only one small vacant space.

Nick Miner, CCIM, of ORION Investment Real Estate represented the Seller in this transaction. “Buyer was in a 1031 exchange and identified this property as their replacement.  Both Buyer and Seller were able to achieve a win-win on this transaction,” noted Miner.

The Buyer, S.M.G. Investments, LLC, was self-represented and said of Nick Miner, “Thank you for your assistance and professionalism in this trade.”

PHOENIX, Arizona  – Located at the heavily trafficked intersection of Thomas Road and 75th Avenue, Desert Sky Festival Pad Shops sold within the center for a combined price of $6.68 million ($336/SF). One pad is leased to Chipotle and Skechers and the other is leased to Chase Bank, Metro PCS, Jamba Juice, Liberty Tax and Tortas La Presa. Ari Spiro, Sean Stutzman, and Judi Butterworth of ORION Investment Real Estate represented the Seller, in cooperation with Paul Serafin of De Rito Partners. Sperry Van Ness-Rich Investment Real Estate Partners, out of Los Angeles, represented the Buyer.

Judi Butterworth and Paul Serafin have been involved with the property for years. “In the nine years I’ve been working on the property, the entire intersection has transformed to a fully-leased, vibrant retail environment,” said Butterworth.

The Seller was 7427 W. Thomas Road, LLC and 2837 N. 75th Avenue, LLC based out of Phoenix, Arizona. The Buyer was Apache 4 Investments, LLC based out of Tarzana, CA. Both pads were fully leased at close of escrow.

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.