Phoenix, Arizona – Situated on the northeast hard corner of 13th Street and McDowell Road, the 1,835 square foot, freestanding building closed for $735,000, or $401 per square foot. Across from the project is Banner University Medical, which expanded last year with $417.9 million in upgrades. The Jack in the Box sits on an 11,317 SF land parcel which is zoned C-2. The property benefits from easy access to the I-10 and SR-51 freeways.
Nick Miner, CCIM of ORION Investment Real Estate represented the Buyer, Gotham Partners, LLC. Miner said, “Seller owned this property before JIB was built in 1960. JIB was out of options to renew and had under-market rents. My client is looking forward to repositioning the property given all the recent development/expansion of Banner University Medical across the street.”
The Seller was Don Wilson Living Trust, represented by Ben Farthing and Joe Campagno at CBRE.
About ORION Investment Real Estate
ORION Investment Real Estate (“ORION”) is a leading full-service brokerage firm based in the Western United States. With several years of continued growth and success, and more than a billion dollars in recent transactions, the ORION team provides best-in-class service to the commercial real estate community. Boasting an extensive knowledge of the market and properties, ORION uses a tailored marketing and structured approach to each client to unlock the potential of every deal. ORION is headquartered in Scottsdale, Arizona. For more information on ORION, please visit our website at www.ORIONprop.com