PHOENIX—Mill Avenue Office, L.L.C. (owned byBob Parsons) has acquired Hayden Station, a107,508-square-foot, mixed-use office and retail property locatedon the southwest corner of Mill Avenue and3^rd Street, for $26.5 million ($246.49 per squarefoot). The seller was Tucson-based HolualoaCompanies.

Senior managing directors Bob Buckley,Tracy Cartledge and Steve Lindleywith Cassidy Turley's capitalmarkets group and Jeff Hartland, ScottBoardman, Trevor Klinkhamer andBrent Mallonee with Cassidy Turley's office andretail groups brokered the transaction on behalf of the buyer andthe seller.

“The seller had gotten to 97% occupied,” Lindley tellsGlobeSt.com. “The Tempe market has been on fire.Two years ago the area had a 73% occupancy rate; today it's at 96%.Over that time asking rents grew 15%. This is the Valley'sstrongest performing submarket and there's a lot more room to go.”