The Hardy in Tempe Sells for $500K Per Unit Article originally posted on AZ Big Media on June 16, 2021 The Hardy luxury townhomes, located at 909 West 2nd Street, sold today for $10,000,000, $500,000/unit, or $292.91/square foot. This is the highest price per unit recorded in the past two years for a 20+ unit multifamily project in the Phoenix Metropolitan Area. Linda Fritz-Salazar and Angelessa Ritchie of ORION Investment Real Estate represented the California Buyer in this transaction. The Seller, Pacific Rim Property Investments Ltd., was also the builder/ developer that completed the luxury townhome project in 2020. The Hardy luxury townhomes are located in the rapidly growing zip code of 85281 in Tempe, in a neighborhood known as the Farmers Arts District. This neighborhood has seen a plethora of luxury units pop up, with developers and investors wanting to take advantage of all the area has to offer, from an exceptionally high demographic of young professionals with degrees, to a plethora of jobs, entertainment, and travel options nearby. Arizona State University, which is in the top 1% of universities in the US and is #1 in Innovation and Global Impact, is just walking distance from the property; Phoenix Sky Harbor Airport is only an 8 minute drive away. Business Partners, Linda Fritz-Salazar and Angelessa Ritchie, made a joint statement about the sale, “We are excited about this newest development, as it is a great addition to Tempe’s vibrant and energetic community. It’s ideally located in the heart of Tempe, within walking distance to Arizona State University, Sun Devil Stadium, Mill Avenue’s Entertainment District, Tempe Town Lakes, ASU Gammage Theater, Tempe Center For The Arts, as well as a multitude of restaurants and amenities that serve the community.” ORION Investment Real Estate (“ORION”) is a leading full-service brokerage firm based in the Western United States. With 10+ years of continued growth and success, and more than a billion dollars in recent transactions, the ORION team provides first-class service to the commercial real estate community. Boasting an extensive knowledge of the market and properties and a tech-forward environment, ORION uses a tailored marketing and structured approach to each client to unlock the potential of each unique deal. ORION is headquartered in Old Town Scottsdale, Arizona. June 24, 2022 Commercial Real Estate Providing Buffer Against Inflation Pressures: Nuveen Lincoln Property Co. Plans $260M Industrial Project Glendale to Consider Annexing 130 Acres to Make Way for Massive Industrial Park Intel $20B Arizona Plant Expansion Aimed at Fixing Microchip Shortage Keeping Up With Phoenix’s Skyrocketing Apartment Rents June 23, 2022 Valley Build-to-Rent Communities Sell, New York-Style Pizzeria Opens; 6 Other Real Estate Deals to Know Luxury Apartments, Retail Next for 120-Acre North Scottsdale Project Called One Scottsdale Top Western Markets by Investment Activity Southwest Industry News for June 2022 DMB Moving Forward on $1 Billion North Scottsdale Mixed-Use Development