PHOENIX, AZ - (January 6, 2025) – In a transaction that closed just before Christmas, Nick Miner, CCIM of Orion Investment Real Estate represented E&C Commercial Properties, LLC, in the successful acquisition of the land site located at 2521 N 7th Street in Phoenix, which is adjacent to the Buyer’s other properties The transaction, valued at $430,000, ($33 PSF) for the land.
The vibrant Midtown Phoenix area along 7th Street has transformed remarkably, emerging as a premier destination for urban dwellers and food enthusiasts. Once an unremarkable thoroughfare, 7th Street boasts diverse dining establishments, from upscale eateries to trendy cocktail bars. Savvy developers have reimagined mid-century buildings, infusing them with contemporary flair while preserving their historic charm.
“This completes an overall assemblage strategy for my client,” Miner commented. “This additional land provides the owner flexibility as the area continues to see additional redevelopment.”
The buyer, E&C Commercial Properties, LLC, was represented by Miner of Orion Investment Real Estate.
The seller, Salvador Calvano, Jr., was represented by Ken Gatt of Gatt Real Estate Advisors.