Tempe, Ariz. – The multi-building development was sold by Tucson, Ariz.-based Holualoa Companies to Mill Avenue Office LLC, which is owned by YAM Properties’ Bob Parsons.
Tempe, Ariz. – Cassidy Turley has arranged the sale of Hayden Station, a 107,508-square-foot mixed-use development for $26.5 million, or $246.69 per square foot. The project was sold by Tucson, Ariz.-based Holualoa Companies to Mill Avenue Office LLC, which is owned by YAM Properties’ Bob Parsons. Senior managing directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group, and Jeff Hartland, Scott Boardman, Trevor Klinkhamer and Brent Mallonee, with Cassidy Turley’s Office and Retail Groups, brokered the transaction on behalf of the buyer and the seller. Built in 1986, Hayden Station—formally Hayden Square—includes five buildings: 310, 350, 404 and 410 S. Mill Avenue and 51 W. 3rd Street. The four Mill Avenue buildings are all two-story and range in size from 5,642 to 9,548 square feet. The 3rd Street building is a five-story, 74,307 square feet multi-tenant office building. Tenants include The Tavern on Mill, Pop Health Man, Logan Simpson Design, NCounter, Mojo Yogurt, Moonshine Whiskey Bar and Downtown Tempe Community, Inc. The entire development was 97.9 percent leased at the time of sale.
— Scott Reid