Cushman & Wakefield Negotiates Sale in Northwest Phoenix
PHOENIX, Arizona – Cushman & Wakefield completed the sale of Deer Valley Crossing, located at 21725 N. 20th Avenue in Phoenix. Phoenix-based Airpark Pak N Ship, Inc. purchased the property from 5000 South Prairie, LLC of Scottsdale, Ariz. for $1 million ($134 PSF).
Cushman & Wakefield Senior Director Chris Hollenbeck represented the seller.
The 7,441-square-foot property was constructed in 2007 and includes five suites currently 66% occupied. Airpark Pak N Ship plans to occupy all remaining vacancy within the property so the building will be at 100% occupancy. Airpark Pak N Ship has been leasing the building for several years and an SBA financing gave them an opportunity to purchase the property.
“This was a great transaction with a well-known business in the area who was able to use SBA financing to purchase a building of their own,” says Chis Hollenbeck.
Located on the hard corner of the Deer Valley Airpark, the busiest private aviation airport in the US according to Federal Aviation Administration (FAA) statistics, Deer Valley Crossing is conveniently located a mile from Honeywell and Cox Communications headquarters and less than 3 miles from the USAA Insurance Campus. With excellent visibility along Deer Valley Road, the property is less than 1 mile east of the I-17.