Colliers International in Greater Phoenix recently completed the sale of a 23KSF, class-A office building in Scottsdale for $2.87M, or $126 per square foot.
The buyer, Desert Palm Management Group of Phoenix, purchased the building, located at 15000 N. Hayden Road, from LC Coffey of Lincoln, Neb.
Colliers International Executive Vice President Greg Hopley represented both parties.
“This is an investment purchase for Desert Palm Management Group, which will have a long-term hold on the building,” said Hopley.
The freestanding building on Hayden Road was constructed in 1993 on 1.55 acres of commercial/industrial land. Terri’s Consign & Design is the anchor tenant now.
“This is great investment opportunity and an excellent location in the Scottsdale Airpark, positioned at the northwest corner of Hayden Road and Raintree Drive with easy access to the 101 outer loop freeway,” Hopley said.
Earlier this year, Hopley represented Desert Palm Management Group when it acquired a 93,500-square-foot, $6.39 million industrial building at the Chandler Corporate Center.