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