GovNet Pays $3.6 for Scottsdale Industrial Building

GovNet, Inc., a Phoenix-based telecommunications company, has purchased an industrial building at 7835 E. McClain in Scottsdale for $3.6 million. Pat Harlan, Steve Sayre and Kyle Westfall of Cushman & Wakefield of Arizona, Inc. negotiated the transaction on behalf of the seller, Scottsdale-based 78 McClain, LLC.

GovNet, Inc. specializes in data integrity, secure high capacity transmissions and customized networks and has plans to occupy the 32,766-square-foot facility. The building was developed in 1996 and is currently 44% occupied.

"This property is a good example of a product type that has been resilient in the recent recession," says Pat Harlan of Cushman & Wakefield. "Certain, unique property types are in scarce supply and therefore retain their value. The building on McLain is a high-quality, flex facility with popular taxiway access in the Scottsdale Airpark. That type of building is not readily available, and thus commands great interest and a stable price."