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Freestanding NNN Leased Investment Sells to Walgreens

MESA – ORION Investment Real Estate is pleased to announce the sale of the 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.

 

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Deals

Freestanding NNN Leased Investment Sells to Walgreens

MESA – ORION Investment Real Estate is pleased to announce the sale of the 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.

walgreens

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.

 

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Deals

Freestanding Office Building in North Scottsdale Sold for $1.7 M

Cushman & Wakefield, a global leader in commercial real estate services, announced today that Mirage Estates, LLC (Wasim Aziz) purchased a ±12,585 square foot single-story office project at 15876 North 76th Street in Scottsdale, Arizona for $1.7 million. The new owner plans to occupy ±8,855 square feet of available space under dba Artisan Cinema & Sound. The property has an in-place tenant, RUHL Forensic that will continue to occupy ±3,730 square feet.

76th Street_Kitlica

Michael Kitlica with Cushman & Wakefield represented the seller TBV-WB, LLC in the transaction. Andy Ogan with Lee & Associates represented the buyer.

Built in 1998, the property is located in the Scottsdale Airpark, one of Arizona’s largest employment centers with over two million square feet of commercial space and home to over 2,500 businesses. The property offers easy access with three freeway interchanges within two miles of the building.

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