Published:   July 20, 2012
Volume:   XVIII    Number:   28


Scottsdale - A company formed by Scottsdale-based founder Bob Parsons paid $36.885 million ($257.67 per foot) to acquire a 147,084-square-foot retail plaza in north Scottsdale. Records show Scottsdale Grayhawk Center LLC (Parson's entity) paid cash to buy the Bashas' and Walgreen Drug-anchored plaza, which is located at the southeast corner of Scottsdale Road and Grayhawk Drive. The seller was Pederson/MNG Grayhawk Plaza Associates, a venture formed by Pederson Group Inc. in Phoenix (Jeff Manelis, pres.). With the acquisition from Pederson Group, companies formed by Parsons have invested almost $85 million in cash to purchase roughly 300,000 sq. ft. of retail and office space, the real estate that houses the Harley Davidson of Scottsdale AZ motorcycle dealership, land to expand the Harley dealership and the nearby Go AZ Motorcycle multi-brand dealership that Parson also owns in Scottsdale, and a parcel in Goodyear that was once planned for another Harley Davidson dealership. Parsons and his representatives could not be reached for comment at press time, but the flamboyant business entrepreneur has refrained from commenting on any of his real estate investments up until now anyway. In March 2000, BREW reported Pederson Group paying just over $8 million to acquire a 18.45-acre site within the Grayhawk master-planned community. Pederson Group completed development of the retail shopping center in 2001. The plaza was 93 percent leased at the time of the closing to Parsons' company. In addition to Bashas' and Walgreen, the plaza's lineup of tenants include: Chase Bank, Circle K, Tutor Time, Pei Wei and Leslie's Pool Supply. Parsons has formed Yam Properties LLC to purchase real estate in the Valley. Dan Dahl is assisting Parsons in building a portfolio of properties in the Phoenix area. Dahl says Parsons is interested in more real estate investments. In mid-June, BREW reported companies formed by Parsons paying $27.3 million to acquire about 150,000 sq. ft. of retail and office space in two properties located within the Arrowhead Ranch community in Glendale. One month ago, BREW reported another Parson's entity paying $7 million to buy a 4.28-acre parcel in Scottsdale that was previously occupied by a Jeep Chrysler automobile dealership. The former dealership has roughly 40,000 sq. ft. in three automotive showroom and service buildings. That property, with an address of 15656 N. Hayden Road, is expected to be redeveloped as a police motorcycle sales and service operation. Go Daddy houses its corporate offices near the motorcycle dealerships within a three-building complex called Scottsdale Technology Center. In June 2010, BREW reported paying $12.5 million ($81.45 per foot) to buy the 153,469-square-foot office project, which is located at the northeast corner of Hayden Road and Acoma Drive. The highly successful provides a one-stop shop for individuals and businesses to establish, maintain and evolve an online presence. The privately-owned has more than 51 million domain names under its management. Founded in 1997 by Parsons, is the largest hosting provider of secure web sites in the world. Find out more from Dahl at (480) 398-2543. Steve Gabbay, CFO of Go AZ, is at (480) 398-2525. Reach Manelis at (602) 265-2888.

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