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$9M Earns Deed to 88%-Leased Industrial Building

SCOTTSDALE, AZ-A 1031 exchange buyer from Huntington Beach, CA goes up against five others for Hayden View Plaza, a 55,440-sf, multi-tenant building in Scottsdale Airpark. The win comes from a high offer of $9.4 million in cash.

By Jennifer D. Duell | Updated on June 08, 2005

SCOTTSDALE, AZ-With 1031 money to spend, an investment group from Huntington Beach, CA has expanded its Valley portfolio, paying $9.4 million for Hayden View Plaza, a 55,440-sf, multi-tenant property in the Scottsdale Airpark.

D.D. Dunlap Cos. acquired the 18-year-old industrial property at 15001 N. Hayden Rd. from Robert Reisner of nearby Paradise Valley. “The building attracted a lot of interest because of its below market rent and strategic location within the Scottsdale Airpark,” says Ray Fontaine, director of Marcus & Millichap Real Estate Investment Brokerage Co. He, Tim Rios and Erik Marsh represented the seller while David Guido of Marcus & Millichap’s Phoenix office represented D.D. Dunlap.

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