Scottsdale, Ariz., April 29, 2022 — Schnitzer Properties has announced the acquisition of the Scottsdale Summit Business Center, formerly the Scottsdale Industrial Airpark. The Portland-based developer acquired the 60,077 square foot light industrial property in the Airpark area of Scottsdale.The prime Airpark property is positioned on 4.375 acres in the highly desirable business hub of North Scottsdale.
“We are very excited about the acquisition of Scottsdale Summit Business Center,” said Jordan Schnitzer, President of Schnitzer Properties. “This new property further underscores our commitment to the Scottsdale and Phoenix markets. We are always looking to expand our offerings and this property is a great addition to our existing light industrial and office properties.”
“We’ve been following the Scottsdale market very closely for several years and we’re thrilled to have added two great projects to our portfolio in the last 18 months,” added Bill Rodewald, Senior Vice President and Regional Manager of Schnitzer Properties.
The four light industrial buildings are home to 34 tenant units, with 97% of the property occupied. The property is populated with many longterm local and regional businesses that serve the Greater Phoenix community and beyond.
The Scottsdale Summit property is well located in a prime business center with excellent access to the Loop 101 Freeway. More than 55,000 employees work for about 3,000 companies within the Scottsdale Airpark area, making it one of largest employment centers in Arizona. In addition to being a hub for business, area tenants also benefit from the Airpark’s status as the prime shopping and entertainment destination in the North Scottsale area.
About Schnitzer Properties
Schnitzer Properties is a privately-owned real estate company that acquires, manages and develops properties for its own portfolio. The company owns and operates 28 million square feet of office, multitenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Schnitzer Properties has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego.