Cushman & Wakefield recently negotiated the sale of an automotive showroom at 16066 N. 77th Street in Scottsdale on behalf of Chandler-based 77 Scottsdale, LLC for $3 million.
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Scottsdale auto showroom trades for $3M
Posted
Independent Newsmedia
Cushman & Wakefield recently negotiated the sale of an automotive showroom at 16066 N. 77th Street in Scottsdale on behalf of Chandler-based 77 Scottsdale, LLC for $3 million.
Michael Kitlica of Cushman & Wakefield represented the seller and Allen Lowe of Lee & Associates represented the buyer, Development Services of America, according to a press release.
Built in 1998, 16066 N. 77th Street is “a best-in-class, one of a kind, automotive showroom” the release said of the 16,450-square-foot site in the Scottsdale/Kierland area.
The project is configured as a single-tenant use and was vacant at the time of sale, according to the release.
“77 Scottsdale, LLC utilized this asset for several years but felt compelled to sell now during perhaps the most seller-friendly market the Scottsdale airpark has ever experienced,” said Mr. Kitlica in a prepared statement.
The Kierland master planned community is a 730-acre community that includes the Westin Kierland Resort and Golf Club, 216-acres of residential space, 107 acres of commercial/retail space, 123 acres of commercial/office space and 11 acres of parks and open space.
Additionally, Kierland Commons and the Scottsdale Quarter are adjacent to the property, which both offer high-end retail shopping and dining options.
