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August 12, 2020
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AZ Tesla Facility Sells for $340/sf

1/15/20

A 41k sf facility in Scottsdale, AZ occupied by Palo Alto-based Tesla traded hands in a $13.95 mil ($340/sf) transaction. The property, located at 8300 East Raintree, is a free-standing service and delivery facility located in the heart of the Scottsdale Airpark. The landlord and Tesla substantially upgraded the property for vehicle repair, vehicle storage and new vehicle pickups by customers throughout the state.

With frontage and signage along Raintree Drive, 8300 East Raintree is one of the largest and most innovative Tesla locations in Arizona. The property is surrounded by some of Phoenix’s most prestigious mixed-use developments, which lies one-mile east of Scottsdale Quarter and Kierland Commons and adjacent to the Raintree and the Loop 101 interchange.

Michael Kitlica, Chuck Klein, Eric Wichterman and Michael Coover of Cushman & Wakefield negotiated the sale transaction on behalf of the seller. The buyer was Sunrise Investment 8300 LLC.

“Tesla selected this facility for its unique zoning, recognizable address and irreplaceable location to service the greater Scottsdale/Phoenix area. This facility represents the largest investment Tesla has ever made in the state of Arizona,” said Kitlica.





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