Cushman & Wakefield Sells Class A Multi-Tenant Warehouse/Showroom
PHOENIX, Arizona – Cushman & Wakefield completed the sale of North Hayden Commerce Center, located at 14000 N. Hayden Road in Scottsdale, Ariz. Hayden Center Investments purchased the property from New York-based 14000 N. Hayden Road, Scottsdale, LLC (a company formed by iStar Financial Inc.).
Paul Boyle, Rick Danis, and Michael Kitlica, with Cushman & Wakefield, brokered the $16.48 million deal on behalf of the seller. Randy Shell of Shell Commercial represented the buyer.
“North Hayden Commerce Center is the largest multi-tenant industrial warehouse/showroom building in the Scottsdale Airpark. Located near executive housing, convenient freeway access, and barriers to entry, the Scottsdale Airpark continues to remain popular for investors and users,” said Boyle.
Completed in 2007, North Hayden Commerce Center is a single-story building totaling 103,517-square-feet (SF), situated on a 7.58-acre site. The Class A multi-tenant industrial warehouse showroom development is currently 67% leased to well capitalized, quality tenants including The Tile Shop, R.E. Michel Company, Red Mountain Weight Loss Center and Ferguson Enterprises, Inc.
Located at a signalized intersection of Hayden and Redfield Road, North Hayden Commerce Center is easily accessible via the Loop 101 which is only one-mile east. The property also resides within the well-established Scottsdale Industrial Airpark development, encompassing approximately 3,300 acres, 1,157 buildings (office/retail/industrial) totaling over 34 million-square-feet and 56,000 employees.