MESA, Arizona – ORION Investment Real Estate is pleased to announce the sale of the NNN leased freestanding Walgreens at 1305 South Greenfield Road in Mesa for $2,632,635. Situated on 1.23 acres, the property is just south of Southern Avenue on Greenfield Road with excellent visibility. Walgreen’s, Baa2 credit rated by Moody’s, was on a long-term lease which was part of the appeal to the Buyer.

Nick Miner, CCIM, Senior Vice President at ORION, represented the Buyer in this transaction. Miner said, “Buyer was in a 1031 Exchange and they were looking for a property to replace income that was leased to a publicly traded company.  I was engaged to help them identify the several different properties that best matched their return requirements.  This property was selected because of the safety of a publicly traded company on a long-term lease.”

The building was purchased by Estelle Roitblatt Living Trust based out of California. The Seller was Florida-based Lease Fund II, LLC.

GILBERT – ORION Investment Real Estate is proud to announce the sale of Higley Marketplace for $2,150,000 ($286.67/SF). The 7,500 square foot, freestanding medical building was constructed in 2007, and has excellent visibility and signage along Higley Road. The building is located near Banner Gateway Medical Center, a new Marriott, and several retail forces. The current tenant occupying the space is Woolf EyeCare; the fully built-out Urgent Care space was available at close of escrow.

Derek Buescher, Vice President at ORION Investment Real Estate, said, “This property is a well-located center in Gilbert, with close proximity to Banner Gateway Hospital. The property was 32% occupied at close of escrow. The vacant space was a built-out Urgent Care. The Buyer has a tenant in tow to go into the Urgent Care space.”

The Seller was Higley Sterling Properties, LLC and the Buyer was The Kobold Group, LLC, based out of Arizona.