Redevelopment Opportunity in Dynamic Trade Area

2017-05-04_13-08-21

Article originally posted on HERE on September 29, 2017

PHOENIX, Arizona — ORION Investment Real Estateand The Kobold Group are pleased to announce an exciting redevelopment of a previously shuttered restaurant building on 46th Street & Thomas Road. The former Hal-O-Peno’s Mexican Restaurant has been an eyesore for years, and Kobold has plans to update and modernize the building to reflect the dynamic trade area in which it is located. The building will transform from a single tenant into three tenants, with two exciting QSR users on each end-cap. The positioning of the building lends to outstanding visibility along the heavily traveled Thomas Road corridor.

“It was a pleasure working with Velocity and CBRE in bringing two strong tenants to the project – Bahama Bucks, which is their first location outside of the Southeast Valley, and Killer Burger, a new concept to the market from the Portland area,” said Michael Achtman, Vice President at ORION. “These tenants will be the backbone of the redevelopment, helping to revitalize a part of Thomas Road that has been an eyesore for too long. We have one more vacancy measuring 1,387 square feet,” said Achtman.

“The southern portion of Arcadia is experiencing tremendous rejuvenation, and we are excited to be a part of that. This property is a great redevelopment project and ORION has done a fantastic job securing complimentary tenants that provide unique offerings to the trade area,” noted Chris Lacasse, Chief Investment Officer of The Kobold Group.

There is one remaining suite of 1,387 square feet. Please contact Jennifer Eggert or Michael Achtman at ORION Investment Real Estate 480.634.6934 for inquiries on the last remaining space.