ORION Investment Arranges Acquisition of Multi-Tenant Retail Pad in Surprise, Arizona

Article originally posted on HERE on February 29, 2024

SURPRISE, ARIZ. — ORION Investment Real Estate has brokered the purchase of a multi-tenant retail pad building at the southeast corner of Litchfield and Waddell roads in Surprise, a suburb northwest of Phoenix. Fox Properties Surprise LLC acquired the asset form Parkview Realty Investments LLC for $2.4 million, or $300 per square foot.

Built in 2009 on 3.17 acres, the 8,009-square-foot property is situated within Boulevard at Surprise Pointe, a 290-acre development with more than 200,000 square feet of retail space. Tenants at the Boulevard include AMC Theatres, Uptown Alley, Walgreens, Dutch Bros., Cold Stone Creamery, Tap House Sports Grill, Tropical Smoothie Café and Quick Quack Car Wash.

Nick Miner of ORION represented the buyer, while Paul Blum of West USA represented the seller in the deal.