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Cushman & Wakefield Brokers Sale of Evans Airpark Center Industrial Property in Scottsdale for $17.65 Million

11/17/2020
SCOTTSDALE, Ariz., November 17, 2020 – Cushman & Wakefield announced today the firm has advised Fadden Enterprises in the disposition of Evans Airpark Center, a 120,433-square-foot, multi-tenant industrial park situated on 10 acres in Scottsdale, Arizona.

Evans Airpark Center

The property is strategically located in the heart of the Scottsdale Airpark, one of metro Phoenix’s most prestigious and desirable submarkets. The buyer was Portland, OR-based Harsch Investment Properties, which acquired the asset for $17.65 million.

Tracy Cartledge, Steve Lindley, Bob Buckley, and Michael Kitlica of Cushman & Wakefield’s Phoenix office represented the seller in the transaction.

“Evans Airpark Center is a clean, functional industrial project in one of metro Phoenix’s best locations, and with nearly 90% occupancy—the majority of the property having lengthy lease terms remaining—provides secure, stable in-place income with value-added upside in an irreplaceable site,” said Tracy Cartledge. “The Scottsdale Airpark has long been a high-performing industrial submarket, a prestigious address with a strong and growing amenity base that is very attractive to tenants. We would expect for the remaining vacancy in the asset to see high demand.”

Evans Airpark Center consists of four low-rise buildings located at 8212 & 8224 E Evans Rd and 14555 & 14557 North 82nd Street. The 14555 manufacturing/warehouse building was built in the early 1980s and the remaining three general industrial buildings were all completed in 2006. The location features outstanding proximity to high-end executive housing, restaurants, resorts, and shopping, as well as direct access to Loop 101 within a few minutes.

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

 

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