Phoenix Historic Midtown Owner/User Office Sold For $162/SF

Article originally posted on HERE on May 30, 2019

PHOENIX – Situated along 16th Street in midtown Phoenix, the owner/user office building recently sold for $340,000, or $162 per square-foot. Located less than one mile from State Route 51, the property has excellent access to midtown and downtown Phoenix businesses and amenities. The escrow period lasted a total of a short six days with a non-contingent buyer selected. Multiple offers were generated.

Nick Miner, CCIM and J.T. Taylor of ORION Investment Real Estate exclusively represented the Seller, Dorothy V Fowler. Miner said, “This property generated a lot of interest during the marketing period. We selected the buyer that agreed to go non-contingent upon opening of escrow and close in less than a week.” Miner concluded, “The 16th Street area has seen recent new developments and redevelopments. With its strategic location off of the 51 and close proximity to PCH, this was a highly desirable location.”

The Buyer, Susan Makou, was represented by Zack Alawi in Phoenix.