Cushman & Wakefield Represents Buyer in $1.65 Million Purchase
PHOENIX, Arizona – On behalf of Clayton Companies, Cushman & Wakefield recently negotiated the purchase of 3944 North Marshall Way in Scottsdale, Ariz., for $1.65 Million ($215 PSF). Michael Kitlica with Cushman & Wakefield consulted for the buyer. Walt Danley and Tom Snyder of Walt Danley Realty represented the seller, Arts District Lofts, LLC.
The property is located on the southwest corner of 1st Avenue and Marshall Way, right in the heart of the Arts District in Old Town Scottsdale. The property is a two-story building totaling 7,688-square-feet originally built in 1953, and completely remodeled in 2001. A live-work-play asset, the property consists of one large showroom with vaulted ceilings along with several offices on the first floor, and a residential studio on the second floor.
“Clayton Companies has acquired yet another rare and unique asset within Old Town Scottsdale, added to their already sizable portfolio. This will be a long-term hold for Clayton and are currently evaluating how best to reposition this asset for future tenants,” said Michael Kitlica.