Orion Investment Brokers $2.3M Acquisition of Encanto Village Shopping Plaza in Phoenix

PHOENIX — Orion Investment Real Estate has arranged the purchase of Encanto Village, a shopping center located at the corner of 15th Avenue and Thomas Road in Phoenix. A Phoenix-based private investor sold the asset to Arizona Partners for $2.3 million.

Built in 1951, The Original Hamburger Works has anchored the 20,000-square-foot shopping plaza since 1967. The buyer plans to renovate the plaza and stabilize the rent roll.

Andrew Harrison, Ari Spiro and Sean Stutzman of Orion Investment Real Estate represented the buyer in the deal.