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Scottsdale Tech Center Sells for $15.2M

SCOTTSDALE, AZ-An $11.1 million financing package gives International Capital Partners 1100 LLC a prime, three-building property at Scottsdale's Air Park, for slightly more than $100 per sf.

By Beverly Ford | Updated on October 15, 2002

SCOTTSDALE, AZ-An $11.1-million financing package has helped International Capital Partners 1100 LLC buy the Scottsdale Tech Center, a three-building package of 151,490 sf of office space at the Scottsdale Air Park. Built in 1985, the single-story buildings at 14455, 14505 and 14555 Hayden Road, are primarily occupied by Ryland Homes, International Color Services, Priority Health and Go Daddy Software.

Funding for the deal was provided by Principal Capital Management and arranged through L.J. Melody & Company, a national real estate investment banking firm. Susan Warning with L.J. Melody’s Phoenix office, who arranged the loan along with Rocco Mandala, says the funding represents 73% loan-to-value, which puts the sales price at $15.2 million.

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