HomeSmart HQ Sells to ABCJ in Sale Leaseback Deal
A single-tenant 36,497-square-foot building facility in Scottsdale recently sold for $12.45 million in a sale/leaseback transaction. Located in the Scottsdale Airport submarket, the building serves as the headquarters for HomeSmart. The buyer was New York-based ABCJ LLC.
Cushman & Wakefield’s Eric Wichterman and Mike Coover in Phoenix brokered the transaction along with Michael Kitlica as leasing adviser.
“This was a very attractive investment offering involving a spectacular class-A headquarter facility occupied by a quality national company,” said Wichterman.
Located at 8388 Hartford Dr., the property features include a two-story lobby entrance, creative office space, conference rooms, full gym/locker room, large kitchen and dining area, and a lounge with a full bar and pool table.
“The property is also well-positioned in the Perimeter Center, one of the foremost business parks in Arizona, and the trade area, the Scottsdale Airpark, is one of the premier office and industrial submarkets in the Valley with respect to affluence, amenities and employment,” Coover adds.
The property provides access to the Loop 101 freeway, along with retail services and entertainment venues.
HomeSmart is a residential real estate company with more than 23,000 agents in 195 offices in 38 states.