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2/14/19
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North Hayden Commerce Center, a 103.5k sf, industrial showroom building in Scottsdale, AZ, sold for $16.48 mil ($159/sf). The property, located at 14000 N. Hayden Rd, was purchased by Hayden Center Investments.
Completed in 2007, North Hayden Commerce Center is a single-story building 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 Rd, 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 SF and 56,000 employees.
Paul Boyle, Rick Danis, and Michael Kitlica, with Cushman & Wakefield represented the seller, New York-based 14000 N. Hayden Road, Scottsdale, LLC (a company formed by iStar Financial Inc.). Randy Shell of Shell Commercial repped 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.
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