SimonCRE Sells Five Guys, Dunkin Donuts Center for $520 per Foot


Article originally posted on Phoenix Business Journal on December 5, 2016

Scottsdale-based SimonCRE has sold a new retail center in Payson for $2.6 million.

The center totals approximately 5,000 square feet and is on the Beeline Highway in Payson. That translates into a sale of $520 per square feet.

Five Guys Burgers and Fries, Dunkin’ Donuts and Little Caesars lease space at the center.

Josh Simon’s SimonCRE built the center.

The buyer was Shipp Holdings LLC, also based in Scottsdale.

Orion Investment Real Estate’s Nick Miner brokered the deal.

“We received multiple offers on the property and it ended up closing for full asking price. The building was under construction during the marketing period, opening for business in June and finishing completion in October of this year,” Miner said.