May 19, 2020 Comments Off on L.A.-Based 1031 Buyer Lands Scottsdale Airpark Creative Office, Airplane Hangar Views: 672 Phoenix, Phoenix & Southwest News

L.A.-Based 1031 Buyer Lands Scottsdale Airpark Creative Office, Airplane Hangar

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Los Angeles-based Route 66 Properties LLC acquired a 39,520-square-foot creative office property and airplane hangar in the Scottsdale Airpark for $8.53 million. The seller of 7350 E. Evans Rd. in Scottsdale was ICIC Commercial Investments.

The property, which was 72% leased at the time of sale, is situated on 2.62 acres along the southwest portion of the Scottsdale Airpark, offering immediate runway access. It comprises four office buildings totaling 33,438 square feet and a 6,082-square-foot airplane hangar. The creative office complex recently underwent a $2 million renovation to include hard lit ceilings, generous clear heights, abundant glass lines, an open courtyard, exposed duct work, concrete floors and an open office environment.

Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Doug Mack of CBRE Investment Properties, SoCal/Phoenix/Vegas, and Brad Anderson, Michael Strittmatter and Lauren Anderson of CBRE in Phoenix, represented the seller.

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