Vizzda – December
14, 2012 – The Southwest Jet Corporate Center buildings, located at 14988 &
15010 N 78th Way, were sold by Jim H Houtz and John T Castrogiovanni of Southwest
Jet Aviation to Gary J Daichendt of Theory R Real Estate. The sale recorded on
December 13, 2012 with a saleprice of $9.6M with $2.9M down and $6.7M new debt
with Mutual of Omaha Bank.
The Southwest
Jet Corporate Center consists of two adjacent buildings built on lots 15 &
16 of the Scottsdale Industrial Airpark #7. Both buildings consist of an
aircraft hanger with an attached two story office building. The building at
14988 N 78th Way has a 31,387 SF hanger and 25,695 SF of office
space while the building at 15010 N 78th Way has a 25,458 SF hanger
and 16,461 SF of office space.
Southwest Jet
Aviation acquired the 14988 building on 6/18/97 for $5,074,982 or $88.91 per
square foot in a related entity transaction. The 15010 property was acquired as
land only 6/25/99 for $1.5M or $16.72 per square foot marked “exchange of trade”
per the recorded affidavit. Construction of the 15010 property was approved
6/22/00 with construction completed in 2002. The most recent debt on the
property dates to an $8.015M note with Marine Bank recorded June 20, 2002.
Edward Moore
Director of Research
www.vizzda.com
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