Redevelopment Opportunity in Phoenix Sold for $1 Million

Article originally posted on HERE on October 9, 2020

Phoenix, Arizona – A redevelopment opportunity located in Phoenix sold last week for $1,000,000 or $55.88 per square foot. Nick Miner, CCIM of ORION Investment Real Estate exclusively represented the Seller, CSAS. The Buyer was Victory Outreach Church. Victory Outreach Church was represented by Garette Golding at Citywide Commercial.

The property was formerly occupied by another church group that just did not fit with the community and later vacated the property for another location.

The site is located at 33rd Avenue and Sweetwater Avenue in Phoenix, Arizona. The positioning of the property makes it an established Phoenix location with close proximity to several businesses and retail areas, including Metro North Corporate Park, and easy access to Interstate 17. Directly across the street of the property is Sahuaro School, which serves as a full service elementary school. The property also has plentiful parking and a drop-off area.

Nick Miner commented on the transaction, “The buyer, Victory Outreach, has plans to remodel and repurpose the once vibrant property and help to improve the neighborhood with their many ministries and community outreach programs. This was a win-win opportunity for both the buyer and the seller. This was the last asset owned by CSAS in the Phoenix Metro area and the second
one I was able to help them sell.”