ORION Facilitates Phoenix Retail Transaction Article originally posted on Commercial Property Executive on April 23, 2020 ORION Investment Real Estate has arranged the $5.5 million sale of The Shoppes at Higley Village, a 24,580-square-foot retail center in Mesa, Ariz. Vice President Derek Buescher assisted the seller, Stratis-Mesa Properties. A private investor acquired the asset in a 1031 exchange deal. The property last traded for $1.7 million in 2011 when the previous owner acquired it as part of a foreclosure action, according to public records. Located at 5050 E. University Drive and 446 N. Higley Road on roughly 4 acres, the three-building property opened in 2005 and is shadow-anchored by a Walmart Neighborhood Market. At the time of sale, the center was 85 percent occupied by tenants such as Great Clips, Bahamas Buck’s and Marco’s Pizza, among others. Situated at the intersection of University Drive and Higley Road, The Shoppes at Higley Village has a daily traffic of 40,000 cars, according to ORION Investment Real Estate data. In March, ORION Investment Real Estate represented two tenants in signing leases totaling more than 27,000 square feet at Desert Mirage Medical Plaza in Surprise, Ariz. The new agreements brought the office building’s occupancy rate to 95 percent. August 17, 2022 CRE Capital Markets: What to Expect by Q4 Could There Be a CRE Upside to a Recession? How to Maintain Multifamily Investment Momentum in the Face of Rising Interest Rates Total Construction Starts Post Big Gains in July, Yet Residential Slips Here’s a Breakdown of Current Arizona Construction Market August 16, 2022 CRE Execs Proceed with Caution as Inflation, Market Uncertainty Persists Planned Surf and Water Park With Hotel, Retail Gains Momentum in Arizona City Phoenix Office Market Posts Healthy Q2 Story of a Young Man With Cancer Goes Viral Is Housing Inventory Growth Really Slowing Down?