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| 16,900-SF Building at 16009 North 81st Street in Scottsdale, AZ Offers Office Space and Airport Hangar |
SCOTTSDALE,
AZ, Aug. 14, 2019 – DAUM Commercial Real Estate Services has directed the sale of a
16,900 square-foot building, featuring office space and an airport hangar, on
1.4 acres of land in the Scottsdale Airpark submarket of Scottsdale, Arizona,
on behalf of both the buyer and the seller.
The
building is located at 16009 N. 81st Street. The total purchase price was
approximately $3.3 million.
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| Kirk Jenkins |
“This
was a rare opportunity for the buyer to bolster their portfolio with a
signature acquisition in a premier greater Phoenix area location,” explains
Jenkins, noting that Scottsdale Airpark is seeing an influx of new construction, and thriving companies in
the submarket are anticipated to add a significant number of jobs in the coming months.
“In
addition to establishing a foothold in the Scottsdale Airpark submarket, the
new owner will benefit from strong immediate cashflow, since the multi-tenant
asset is fully leased to several diverse businesses.”
The building,
comprised of two stories of garden-style office space and an attached aircraft
hangar, is also a prime asset due to its direct taxiway access, he continues.
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| Steve Bodeman |
"After holding the property for more than a decade, the firm strategically determined to sell in order to capitalize on increased market demand, indicated by post-recession-low vacancies.”
He notes
that the building, which was originally constructed in 2000, has been very well
maintained and both the exterior and interior were recently painted.
This was appealing to the buyer and helped secure a competitive price for the seller, compared to other properties of this vintage in the submarket.
This was appealing to the buyer and helped secure a competitive price for the seller, compared to other properties of this vintage in the submarket.
“While
this was a win-win for both parties, as with any transaction, the process
required strategic negotiations,” Jenkins says. “DAUM’s long-standing
relationships with both the buyer and seller, as well as our deep knowledge and
experience in the submarket, uniquely positioned us to bring everyone together
and come to a satisfying conclusion.”
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