Tag Archives: Trevor Klinkhamer

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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

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Latest leasing deals bring 3131 & 3133 Camelback to full occupancy

Cassidy Turley announced that it completed leases of 13,782 square feet with Kforce, Inc., 7,468 square feet with Lawyers Title, 6,293 square feet with GL Legacy Commercial Advisors, Inc., and 2,250 square feet for Newmark Realty Capital at 3131 and 3133 East Camelback Road in Phoenix.

Cassidy Turley Managing Director Trevor Klinkhamer and Senior Vice President Ray Harris represented the landlord, TR Camelback Corp. Chris Latvaaho of Cushman & Wakefield represented Kforce Inc.; Tom Imparato of Orion Realty Group represented Lawyers Title; Tom Jacobs of Cassidy Turley represented Newmark Realty Capital; and GL Legacy Commercial Advisors, Inc. was represented by Torrey Briegel of Phoenix Commercial Advisors.

“It’s very hard and unusual to lease a multi-tenant project of this size to 100%, and we believe this is a testament to the excellent location, timeless quality of construction and the excellent property management at 3131 and 3133” said Mr. Harris.

Built in 1998 and 1999, 3131 & 3133 Camelback is a Class A, multi-story office project. It is ideally located in the Camelback Corridor, on the southwest corner of 32nd Street and Camelback Road and is one of the most highly prized tenant addresses in the Phoenix metro area. The two-building property is in proximity to Arizona SR 51, Interstate 10, and 202 freeways and Phoenix Sky Harbor International Airport. Convenient to the recently renovated Biltmore Fashion Park, Ritz Carlton Hotel and many fine restaurants including Central Bistro, Tarbells, Donovan’s Steakhouse, Capital Grille, Tomaso’s, True Foods, Hillstone, Stingray Sushi, Seasons 52, Christopher’s & Crush Lounge, and Chelsea’s Kitchen. For more information contact: Trevor.Klinkhamer@cassidyturley.com or Ray.Harris@cassidyturley.com.