SCOTTSDALE, ARIZ. (Dec. 14, 2021) – A building/land portfolio sale and office property sale totaling $13.775 million, two retail property sales totaling $7.5 million, and the sale of an industrial building for $3.4 million highlight November transactions closed by LevRose Commercial Real Estate brokers. The five sales total $24.67 million.
The Kottler/Cosgrove team (Zak Kottler, Joe Cosgrove, Hunter Chasse, and Aaron Cook) represented the seller, Chalpin Family Enterprises, in the $8.775 million disposition of a Scottsdale Airpark portfolio comprised of a ±40,589 SF flex/hangar building plus an adjacent ±1.89 acres (±82,123 SF) of vacant land.
The property at 7428 and 7429 E. Karen Drive in Scottsdale is situated in the heart of the amenity-rich Scottsdale Airpark and is one of the largest sites sitting on the Scottsdale Airport Taxiway.
The existing building at 7428 E. Karen Drive previously served for many years as the corporate headquarters for Hi-Health, which has since fully vacated the property. The property was originally built in 1986 as an Office/Hangar building and expanded in 1999. The new owner intends to renovate and occupy the existing building while developing the vacant land at a later time.
7428 and 7429 E. Karen Drive in Scottsdale
The Kottler/Cosgrove team represented both the buyer and seller in the $5 million sale of 9089 E. Bahia Drive in Scottsdale. The office property totals 15,691 SF and was occupied by two tenants with brand new leases at the close of escrow.
Located within the much sought-after Scottsdale Airpark submarket, the asset was built in 2004 with major renovations completed in 2018. The stand-alone office building boasts impeccable Class A custom finishes throughout coupled with 100% occupancy which appealed to the out-of-state buyer who was seeking a well-positioned low maintenance asset in Arizona.
5929 W. Peoria Ave., in Glendale, Arizona
Keri Davies, Jason Reddington and Jon Rosenberg represented the seller, Triumph Glendale Crossing Acquisition, LP, in the $4.1 million disposition of a freestanding retail strip center at 5929 W. Peoria Ave., in Glendale, Arizona. The buyer was RIMIC Properties, LLC.
The strip center is well positioned on the hard SWC of 59th and Peoria avenues. LevRose also represented Triumph in the acquisition of the property in January 2017 for $3.025 million. This is the eighth transaction in Arizona for Triumph, all represented by LevRose CRE.
2270 S. Airport Blvd., Chandler, Arizona
Mark Cassell, Marty Maier, and Matt Beek represented the seller in the $3.4 million disposition of Chandler Airport Business Center, located at 2270 S. Airport Blvd., in Chandler, Arizona. The industrial building totals 19,000 SF and benefits from close proximity to Chandler Municipal Airport.
LevRose CRE represented the seller, Airport Business Center of Chandler, Inc., and the buyer, KFH CABC, LLC. The asset is located within proximity to Chandler Municipal Airport.
Aaron Norwood represented the buyer, DFP Properties, LLC, in the $3.4 million purchase of 881 N. Arizona Ave., in Gilbert, Arizona. The retail property, an auto dealership, totals 5,940 SF. The seller was Beverly Land Company, LLC.
881 N. Arizona Blvd., Gilbert, Arizona
About LevRose Commercial Real Estate/TCN Worldwide
LevRose is proud to be the sole Phoenix affiliate of TCN Worldwide. Formed in 1989, TCN is a consortium of networked independent domestic and international commercial real estate firms, which provides for complete, integrated real estate solutions across the globe. With approximately $41.3 billion in annual transactions and over 180 MSF under management, TCN Worldwide ranks as one of the largest service providers in the industry. An extensive range of real estate services and resources, coupled with a personal commitment to exceed client expectations, is what has made TCN Worldwide a leader within the global commercial real estate industry. For more information visit levrose.com.