Located at 7722 E. Gray Rd. just off Red Field Road and HaydenRoad, the 20-year-old building was sold by Scottsdale, AZ-basedDiamond Connection Inc., which is headed by principal Arthur Reade.It is 60% vacant, according to TJ Karry of Scottsdale,AZ-basedCommercial Investment Advisors Inc. who brokered thedeal.
Karry tells GlobeSt.com that Urban Capital plans to invest morethan $500,000 to reconfigure the building into a more logicallayout. "It's obsolete in a lot of ways," he says. "It's avalue-added opportunity for someone who wants to sink money intoand work it."
The building's main attraction is its location, Karry says. "Thelocation is just perfect…It's absolutely a great spot becauseScottsdale Airpark is very desirable," he says.
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