McCormick Place, a vacant, 74,474 SF, 3-story office building at 8125 N. Hayden Road in Scottsdale, sold for $14.95M in a deal handled by CBRE.
Scottsdale Healthcare Corporation, a nonprofit health system, has acquired the building, which will become its new corporate headquarters.
Luke Walker and David Carder of CBRE’s Phoenix office, along with Patti Gentry of Arizona Commercial Advisors of Scottsdale, represented the buyer in the acquisition. The seller, a real estate investment company based in northern California, was represented by Jerry Noble, Pat Devine and Greg Mayer, also in CBRE’s Phoenix office.
“Scottsdale Healthcare was seeking a centralized location for its corporate office in order to maximize resources and better support each of its hospital campuses,” Walker said. “McCormick Place will provide it with the necessary space to relocate its corporate and other business office functions, while creating flexibility for future enhanced patient services on its Osborn campus.”
Gentry added: “From a business perspective this location will strengthen Scottsdale Healthcare’s footprint in the City of Scottsdale by establishing a major corporate headquarters in the center of the city, and the timing of this transaction will allow the company to benefit from a cost perspective as well.”
Until 2008, the building served as the corporate headquarters for Medicis Pharmaceutical Corporation. It is located on the NEC of Hayden Rd. and Via de Ventura, central to all three Scottsdale Healthcare hospital campuses. The property is also less than one mile from the Loop 101 and in proximity to numerous upscale retail amenities, including the Villages on Hayden and The Shops at Gainey Village.
Also included in the sale was an adjacent, free-standing, covered parking garage.
Scottsdale Healthcare plans to move into its new corporate headquarters in 2013.