ORION Investment Real Estate recently sold the land site located at 3734-3744 East Illini Street in Phoenix for $650,000 ($7.87/SF). Located on the hard corner of 38th Street and Anne Street, the site has immediate access to Interstate 10 and is minutes from Phoenix Sky Harbor International Airport.
Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, represented the Seller in this transaction. Miner said, “This was excess property for the Seller. They originally intended to build on the site, until another opportunity came available a couple of years ago to purchase an existing warehouse and retrofit for much less than new construction. The Buyer intends to construct a new building for the expansion of their business down the road.” From open to close, this took less than 45 days.
The Seller was Expansion Dynamics Inc., represented by ORION. Perez Property Management, LLC purchased the land.