DriveTime Expands in Mesa with $8.8 Million Office Complex

Mesa – The owner and founder of DriveTime Automotive Group, Inc in Phoenix has acquired an office-industrial project in Mesa that will house hundreds of new employees being hired by the fast growing national used car business. Verde Investments Inc. in Phoenix (E.C. “Ernie” Garcia, principal) paid $8.8 million ($82.07 PSF) to buy the 15.97-acre Superstition Commerce Park, which is located west of the northwest corner of US 60 and Sossaman Road.

The 107,231-square-foot complex was vacant at time of sale and comprises a 49,438-square-foot back-office building located at 7457 E. Hampton Avenue and a 57,793-square-foot flex/industrial structure at 7465 E. Hampton Avenue. The acquisition included a 5.49-acre, fully improved parcel targeted for future expansion.

The seller was Delta SCP LLC of Chandler (Michael Deutsch, principal). The seller was represented by Andy Markham, Mike Haenel and Will Strong of Cassidy Turley in Phoenix. Fred Darche and Chris McClurg of Lee & Associates in Phoenix represented the buyer.

DriveTime is expanding from a 125,000-square-foot facility that the company owns just across the street at 7300 E. Hampton Avenue. DriveTime has about 600 workers in that project. Some of those employees will remain in place and some will be moved to the new buildings. The used car sales company has five dealerships in the Valley and 118 sales locations in 24 states across the country.

DriveTime, which was known as Ugly Duckling before Garcia changed the business model in 2002, has been a huge success as it expands across the U.S. The company sells and finances automobiles and needs the additional space in Mesa for its customer service operations. The flex/industrial structure acquired at Superstition Commerce Park is being converted for back-office use. The two buildings will be used to accommodate projected growth of 100 employees that are expected to be hired at DriveTime each year for the foreseeable future.

DriveTime intends to occupy the new space by second quarter 2015.

To learn more Garcia can be reached at 602.778-5000. Talk to the Cassidy Turley agents at 602.954-9000. The Lee & Associates agents are at 602.956-7777.