Scottsdale Airpark building sells for $3.91 million to undergo renovations

A view of the manufacturing building sold at 15550 N. 78th St. in Scottsdale. (Submitted Photo)

A 35,077-square-foot manufacturing building at 15550 N. 78th St. in the Scottsdale Airpark sold recently for $3.91 million or $111.47 per square foot.

Lee & Associates Principal Steve Farrell represented the buyer — Scottsdale-based MBBE AZ, LLC — while Lee Principals Stein Koss, Tom Louer and Associate Nick Nudo represented the seller — Scottsdale-based Industrial Electric Wire & Cable, Inc. — according to a press release.

MBBE AZ, LLC will look to enter into a lease with Drivers Club, a membership-based community of automotive enthusiasts where members are offered a full range of services including collection management, programmed events, entertainment offerings, and automobile storage.

The Scottsdale location will open in Fall 2017 after an extensive $2.5 million renovation, while a Seattle location will open March of 2018 with ground breaking to commence this June.

Built in 1995, the freestanding building sits on 2 acres with proximity to the Loop 101 Pima Freeway, Scottsdale Airpark runway and to nearby luxury retail locations such as Kierland Commons, Scottsdale Quarter and The Promenade.

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