Congregation Or Tzion purchased an industrial/flex building at 16415 N. 90th St. from Covenant Community Church for a price of $4,246,000, according to Colliers International.
The well-known Scottsdale synagogue plans to accommodate future growth of its congregation and operations in the property.
Congregation Or Tzion purchased the 21,230-square-foot building from Covenant Community Church of Scottsdale, which acquired the property when it was constructed in 2005. Covenant Community Church negotiated a short-term lease-back of the property.
The free-standing building has Class “A” church build-out interiors. The interior features offices, class rooms, an assembly area and high ceilings. The exterior offers lush landscaping, abundant parking and excellent ingress and egress.
“This buyer was very interested in the commercial property because it is situated just one block from the synagogue’s current leased location. The building offers an excellent asset for their future use and expansion,” said Greg Hopley, executive vice president with Colliers International in Greater Phoenix.
Hopley represented Covenant Community Church in the sale negotiations. Congregation Or Tzion was represented by Patriot Commercial Properties.
