Colliers International sells prime Scottsdale Airpark building for $4.68 million

Buyer will utilize building as auto showroom

Phoenix, March 4, 2019 – A Tempe investor has purchased the industrial/flex building at 7434 E. Monte Cristo Ave. in the Scottsdale Airpark for a price of $4.68 million. The buyer will occupy the entire 28,241-square-foot structure to house Precision Fleet Services auto showroom and administrative offices.

“This attractive, two-story structure offers incredible proximity within the Scottsdale Airpark,” said Jim Keeley, founding partner and senior executive vice president of Colliers International in Arizona. “Located very close to Kierland Commons and Scottsdale Quarter, the building will provide this buyer with a terrific combination of auto-friendly dock doors and staging areas, as well as well-appointed office spaces.”

7434 E Monte Cristo LLC, by Malck LLC of Tempe, purchased the property from Western Properties Inc. of Seattle. Keeley represented the seller in the transaction. Chad Ackerly of Commercial Properties in Tempe represented the buyer.

The building, which was constructed in 2001, contains two levels of space, three dock-high doors and two grade-level doors. The property has a secured, fenced area and 64 parking spaces. The first floor features approximately 14,730 square feet of warehouse and approximately 6,316 square feet of office spaces. The second level consists of approximately 6,400 square feet of offices and an 806-square-foot balcony.

The property offers convenient access to Scottsdale Road via Paradise Lane, just south of Bell Road. The surrounding area includes an abundance of retail, hospitality and additional auto businesses. 

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers International in Arizona has served clients locally and globally for more than 35 years.


Related Experts
expert photo

Jim Keeley

Founding Partner

Scottsdale

As the Founding Partner of Colliers International’s Scottsdale office and Senior Executive Vice President for Colliers International in Arizona, I lead the Scottsdale office and serve as its designated broker. Considered one of the leading commercial real estate experts in the Deer Valley and Loop 101 Employment Base and the Scottsdale Airpark, I specialize in the sale and leasing of office, industrial and flex buildings, land, and aviation properties.

I have completed countless sales of office and industrial buildings to both investors and users. I serve as a broker and advisor to developers and users in the purchase, sale, and lot layout of business, office and industrial land subdivisions. I also consult with and negotiate on behalf of owners, users and developers on build-to-suits.

With more than 35 years of industry experience as a sales leader, developer and real estate consultant, I have developed and owned office and industrial buildings, aviation hangars, convenience markets, and lot subdivisions.

I embrace the full-service “Cradle to Grave” approach to commercial real estate:

  • Step 1 – Identifying the site and negotiating the purchase on behalf of the client
  • Step 2 – Using a team approach to lease up the property on behalf of the investor, developer and user
  • Step 3 – Selling the asset at the highest value in the shortest amount of time on behalf of the owner

I began working in the Scottsdale Airpark in 1981, and founded Classic Real Estate Corporation in 1983. In 1998, I sold 50 percent interest in Classic to Colliers International to expand its commercial real estate presence into the Loop 101 Employment Base (Scottsdale Airpark, Desert Ridge, and Deer Valley).

View expert