ORION Facilitates Phoenix Retail Center Sale
- Oct 06, 2017
ORION Investment Real Estate arranged the sale of the Southern 19 Plaza. Principals Sushil Thukral and Vijay Thukral bought the property for $1.8 million and Paragon Southern Plaza LLC represented the seller.
Located in South Phoenix along the major artery of 19th Ave. and Southern Avenue, the retail center is situated in a strong trade area. The asset consists of more than 16,000 square feet, anchored by Family Dollar. Other tenants include Boost Mobile, City Nail & Spa, Sr Ozzy’s Tacos Y Mariscos, and a Clearly Water Kiosk.
“The newer constructed property is located in the Phoenix metro area. Southern 19 Plaza was 77% occupied at close of escrow, leaving upside for the new buyer in leasing out the vacant spaces. This high producing Family Dollar recently exercised their first ten-year option,” said Derek Buescher, ORION representative.
Jared Williams and Derek Buescher of ORION Investment Real Estate were responsible for facilitating the sale.
Image courtesy of ORION Investment Real Estate