Cassidy Turley announced that DM Sorrento, a private investor, has acquired Scottsdale Airpark II, a 47,933 SF, two-building, industrial project located at 16000 N. 80th Street and 16001 N. Greenway-Hayden Loop, for $6.3 million ($131.43 per square foot). The seller was California-based Turner Real Estate Investments.
Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group and Senior Vice President Michael Kitlica with Cassidy Turley’s Office Group brokered the transaction on behalf of the buyer and the seller.
Built in 2000, Scottsdale Airpark II is a two building, multi-tenant showroom/general industrial project located in the Scottsdale Airpark. The frontage building, located on Greenway-Hayden, is a ±18,330 square feet manufacturing/showroom building that is divided into two spaces. The 80th Street building is ±29,603 square feet and is divided into five spaces of ±6,000 square feet each. The property was 100% leased at the time of sale to high quality companies including Glidden Company, American Spirit Arms, Fortis Financial and Insight Surgical Equipment.
