ORION Facilitates Phoenix Retail Center Sale
Paragon Southern Plaza LLC sold the 16,980-square-foot property for $1.8 million. Southern 19 Plaza is located in a strong trade area near a major artery in the city.
By Alex Ciorogar
Southern 19 Plaza, Phoenix, Az.
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
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