Local buyer 7575 E. Redfield LLC beat out eight other investors with a $2.4-million offer on the property, paying just $250,000 less than Paradise Valley-based seller, Noss Partnership's $2.7-million asking price. The buyer "liked the acquisition because it is tough to get into the Scottsdale Airpark at under $100 per sf," Kevin Kopp with Lee & Associates' Phoenix office tells GlobeSt.com of the buy, which closed at $82.78 per sf. "It was a value-added opportunity."
Built in 1982, the two-story 7900 E. Greenway Road property, which is about 85% occupied, numbers among its tenants a computer manufacturing firm, a pool and patio company and several other small businesses. Kopp, along with Mark Linsalata, Jan Fincham and Pat Dempsey, all with Lee & Associates, assisted both parties in the transaction.
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