May 27, 2014

AZRE

CPI sells 26KSF industrial property in Scottsdale

Bob Deininger, Commercial Properties, Inc.
Bob Deininger, Commercial Properties, Inc.
Commercial Properties, Inc. has announced the sale of a 26,010 SF industrial property located at 7830 East Redfield Road in Scottsdale, Arizona.  Bob Deininger and Craig Trbovich of CPI’s Scottsdale Office represented the buyer, DRD Properties, LLC, in this transaction.  Airport Business Center was built in 1984, and is a multi-tenant building near the corner of Redfield Road and Hayden Road within the  Scottsdale Airpark Industrial Park.

Craig Trbovich, Commercial Properties, Inc.
Craig Trbovich, Commercial Properties, Inc.
According to Bob Deininger, “DRD is a private equity investor who owns other properties here in the Valley.  This transaction was part of a 1031 exchange, and Airport Business Center was a perfect match for their multi-tenant, investment property requirements.”

The sale was valued at $2.65 million.  Bob & Craig have retained the leasing assignment for Airport Business Center, and may be contacted for additional information at bdeininger@cpiaz.com or ctrbovich@cpiaz.com or 480.966.2301.