Cushman & Wakefield Represents Buyer in Re-Entering the Scottsdale Market
PHOENIX, Arizona – Cushman & Wakefield announced that San Francisco-based Scottsdale Sport & Classic Motorcar LLC (www.scottsdalesport.com) purchased the building located at 7671 East Acoma Drive in Scottsdale, Ariz., from Scottsdale-based Santa Fe Saavy. Sale price was $2.25 million ($158 PSF).
Michael Kitlica of Cushman & Wakefield negotiated the transaction on behalf of the buyer.
7671 East Acoma is a 14,219-square-foot, free-standing showroom building located in the Scottsdale Airpark. With frontage along Acoma Drive, the single tenant building was 100% percent leased at the close of escrow. Surrounded by some of Metro Phoenix’s most prestigious mixed-use developments, which lies one mile east of Scottsdale Quarter and Kierland Commons.
Scottsdale Sport & Classic Motorcars has 15 previous years in the Scottsdale Airpark, well known for specializing in offering pre-owned exotic, specialty and European classic automobiles. Scottsdale Sport & Class Motorcars acquired 7671 Acoma for a relocation and expansion from its San Francisco-based dealership and showroom.
“Scottsdale Sport & Classic Motorcar LLC selected this location as the city prepares to transition Acoma Drive into the Raintree Loop, which will effectively connect the Loop 101 to the Scottsdale Quarter. This will make it one of the most visible locations in the submarket. Scottsdale Sport is also planning an extensive renovation and expansion to the property slated for the second quarter of 2019,” said Kitlica.