Tag Archives: Bob Buckley

Black Canyon Business Park, Cassidy Turley, WEB

California investor buys Black Canyon Business Park

Cassidy Turley announced that BKM Capital Partners (Irvine, California) acquired Black Canyon Business Park, a ±219,090 square foot business park at 8041 North Black Canyon Freeway for $13.1 million. The seller was Business Properties (Irvine, California).

Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group and Vice President John Pompay with Cassidy Turley’s Industrial Group brokered the transaction representing both parties.

“The project has an outstanding location, with freeway exposure,” Mr. Buckley said. “With the ability to capitalize on improving market conditions and tenant demand, Black Canyon Business Park offered exceptional value and upside potential for the buyer.”

Black Canyon Business Park is a 15 building business park with office, flex industrial and retail spaces ranging in size from 1,200 to 13,000 square feet. Built between 1975 and 1984, the property is located on the northeast corner of Northern Avenue and Interstate 17. The property was ±34% leased at the time of sale.

hayden_station

Hayden Station in Tempe sold for $26.5M

Cassidy Turley has announced that Mill Avenue Office, L.L.C. (owned by Bob Parsons) has acquired Hayden Station, a 107,508 square foot, mixed-use office and retail property located on the southwest corner of Mill Avenue and 3rd Street, for $26.5 million ($246.49 per square foot). The seller was Tucson, Arizona-based Holualoa Companies.

Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group and Jeff Hartland, Scott Boardman, Trevor Klinkhamer and Brent Mallonee with Cassidy Turley’s Office and Retail Groups brokered the transaction on behalf of the buyer and the seller.

“Urban, infill properties in true walkable, 24/7 locations are generating exceptional investor interest,” Mr. Lindley said. “We were able to take advantage of this interest with Hayden Station’s Mill Avenue address in Downtown Tempe right at the light rail station.”

Built in 1986, Hayden Station (formally Hayden Square), includes five buildings: 310,350,404 and 410 S. Mill Avenue and 51 W. 3rd Street. The four Mill Avenue buildings are all two story and range in size from 5,642 to 9,548 square feet. The 3rd Street building is a five story, 74,307 square feet multi-tenant office building. The entire project was 97.9% leased at the time of sale.

“Hayden Station has had a history of maintaining high occupancy, even during the recent downturn,” according to Stan Shafer, Chief Operating Officer for Holualoa Companies. “Downtown Tempe is now the strongest office market in the Phoenix Metro.”

Hayden Station is strategically located on Mill Avenue, adjacent to a Light Rail station and within a short walk to Arizona State University. Downtown Tempe is one of Arizona’s most supply-constrained and successful office markets, with the Tempe North