New Payson Development Sells for Full Asking Price

ORION Investment Real Estate is proud to announce the sale of the new, three-tenant development for $2,614,400 ($520/SF). The newly constructed building includes: Five Guys Burgers and Fries, Dunkin’ Donuts and Little Caesars.

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This three-tenant, new construction is situated at the signalized intersection of Beeline Highway and Bonita Street in Payson, Arizona. The site is within walking distance to Walmart Supercenter, Safeway Grocery, Bashas’, Bealls Outlet, AutoZone, and a plethora of other well-known retail tenants.

 

Josh Simon, President at SimonCRE, said, “We were happy to develop a property that will serve the Payson community as it continues to grow. This highly visible retail location is a great addition to the Payson retail scene for both visitors and residents.”

 

Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, represented the Seller in this transaction. Miner said, “We received multiple offers on the property and it ended up closing for full asking price. The building was under construction during the marketing period, opening for business in June and finishing completion in October of this year. This was a pride of ownership opportunity for the new owner.”

 

The Seller in this transaction was SimonCRE and the Buyer was Shipp Holdings LLC, both locally-based.

 

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