Deal-Tracker: Retail and Industrial Dominate

PHOENIX—In this edition of Deal-Tracker, ORION Investment Real Estate announces the closing of the Campbell Shops at 24^th Street located at 4517 North 24^th Street in Phoenix for $2.3 million to Santa Fe Arms LLC, managed by Steve Olafson in Scottsdale. The seller was Greenfield-Inverness, LLC based in Phoenix. The property was 57% occupied at time of closing. The current tenants are 7-Eleven and Ye Olde Pipe & Tobacco Shoppe who are both signed to long-term leases.

Ari Spiro and Sean Stutzman of ORION negotiated the transaction.  The buyer was drawn to the strong location, in-place cash flow and ability for upside through lease up.