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17255 N 82nd St & 17250 E Hartford Dr
14441-14449 N 73rd St & 7301-7315 E Evans Rd
Scottsdale, AZ 85260
Hanson Capital Group is pleased to present the Scottsdale Small Bay Portfolio, a two-property, 89,533 square foot industrial complex comprising 30 bays across two premier business parks situated within the Scottsdale Airpark submarket. The portfolio is being presented as one investment that will be split pro-rata into the two stand alone deals. The portfolio is acquired at a blended basis of $241 per square foot, a significant discount to current replacement cost, providing meaningful downside protection and a compelling entry point into one of the most supply-constrained industrial submarkets in the Sun Belt.
The portfolio is 97% leased at acquisition, generating immediate and diversified cash flow from a broad mix of tenants across both parks. Park 1, located at 82nd Street and Hartford Drive, encompasses 49,297 square feet and is 100% leased. Park 2, located at 73rd Street and Evans Road, encompasses 40,236 square feet and is 93% leased. The near-full occupancy at acquisition allows the partnership to operate from a position of strength while executing a systematic mark-to-market leasing strategy.
The core investment thesis is straightforward: current in-place rents average $1.12 per square foot NNN which is materially below the market rate of $1.85 per square foot NNN that comparable small bay product in the Airpark is achieving today. This 65% rent spread represents the primary value creation engine, with 62,485 square feet, approximately 70% of the portfolio, rolling within the first 30 months of ownership. The lease expiration profile provides a clear and near-term runway to capture market rents across the majority of the portfolio within the target hold period.
The combination of a below-replacement-cost basis, near-term lease rollover, a defined value-add capital program, and a supply-constrained submarket creates a risk-adjusted return profile that is difficult to replicate in today’s market.
Scottsdale Small Bay Portfolio
17255 N 82nd St & 17250 E Hartford Dr, 14441-14449 N 73rd St & 7301-7315 E Evans Rd, Scottsdale AZ 85260
The business plan centers on a comprehensive physical repositioning of both parks, executed in tandem with a disciplined mark-to-market leasing program timed to coincide with the portfolio’s favorable lease expiration schedule. With 62,485 square feet expiring within 30 months, the partnership has a well-defined window to deliver upgraded product to market and capture the full $1.85 per square foot NNN rent on the majority of the portfolio driving approximately 34% NOI growth from day one to stabilization.
Capital improvements totaling $1.2 million will be deployed across both properties with an emphasis on elevating curb appeal and interior finish quality to align with tenant expectations in the Scottsdale Airpark. Exterior improvements will include full property repaints, upgraded monument and suite signage, and comprehensive asphalt seal coating and re-striping delivering a clean, professional first impression that is consistent with the premium nature of the submarket. These upgrades are designed to be impactful, cost-efficient, and immediately visible to prospective tenants touring the market.
Interior bay upgrades will focus on delivering a modern, move-in-ready product that reduces tenant friction and shortens lease-up timelines. Each vacant and rolling bay will receive a full white box warehouse finish, new LED lighting throughout, LVT flooring in office areas, fresh interior paint, and fully renovated bathroom finishes. The result will be a turn-key suite that commands top-of-market rents while minimizing the need for additional tenant improvement allowances that erode net returns.
As leases roll, the leasing strategy will focus on replacing below-market tenants with longer-term, occupants at $1.85 per square foot NNN a rate the Airpark market is actively supporting and in many cases exceeding. Several existing leases contain renewal options at below-market rates; these will either be managed to capture a natural rent step-up at renewal or marketed as additional upside to the next buyer at exit, embedded within a compressed cap rate environment. This optionality enhances the portfolio’s exit story regardless of whether those tenants exercise their options.
At the end of the three-year business plan, the portfolio will be presented to market as a fully renovated, stabilized small bay industrial portfolio in one of the nation’s most recognized and supply-constrained business park submarkets.
According to Cushman & Wakefields Q4 2025 market beat, the Northeast Valley across all size ranges boasts the valley’s tightest vacancy rates. Small bay industrial supply within the Scottsdale Airpark is severely constrained and has been for years. The submarket is largely built out, with land scarcity, entitlement barriers, and high land costs making new small bay development economically prohibitive. This structural supply constraint has created a persistent imbalance between tenant demand which remains strong and consistent, underpinning rent growth and near-zero vacancy for quality small bay product. New competing supply is not expected to materially impact the submarket during the investment period.
Scottsdale Small Bay Portfolio
17255 N 82nd St & 17250 E Hartford Dr, 14441-14449 N 73rd St & 7301-7315 E Evans Rd, Scottsdale AZ 85260
Scottsdale Small Bay Portfolio
17255 N 82nd St & 17250 E Hartford Dr, 14441-14449 N 73rd St & 7301-7315 E Evans Rd, Scottsdale AZ 85260
At Hanson Capital Group, experience is not just a metric—it’s our foundation. Boasting over 100 years of combined expertise in real estate, we’ve cultivated a reputation for excellence and strategic insight in the market. Our formidable investments, nearing $350,000,000 under management, are a testament to our sustained success. Driving our vision forward is a harmonized team of executives and directors. CEO Chris Hanson, COO Zach Price, Managing Director of Acquisitions Chris Pike, and Managing Director of Asset Management Jim Tainter lead the charge. Together, they craft the trajectory for Hanson Capital Group, ensuring we remain at the forefront of the real estate industry.
Established in 2008, Hanson Capital Group embarked on its mission to become a trusted auction bidding service provider and create a lasting enterprise focused on creating wealth for ourselves and our partners. Aligning with prominent institutions, our dedication and energy quickly became evident, resulting in the acquisition of over 1,500 single-family homes out of foreclosure within an impressive six-year span. However, our sights were set higher. Identifying a unique opportunity to elevate our bidding pursuits, Hanson Capital, LLC was established in 2010 as a state-licensed mortgage bank. Today, Hanson Capital thrives as a leading hard money and bridge debt lender, and, to date, has overseen transactions exceeding $500 million, while consistently maintaining an equity portfolio averaging $40 million.
While our initial investments were rooted in real estate backed lending, in 2010 we began our pursuit of direct investment in value-add multifamily assets. After nearly a decade of that value-add multifamily strategy, and after buying and selling a few thousand apartment doors, our focus shifted in 2018 towards industrial real estate, which continues to be the focus today.
We are now deeply entrenched in industrial real estate within the so-called “Sun Belt”, with a notable presence in strategic areas like California, Arizona, and Texas. The result of this commitment is roughly $350,000,000 in assets under management and over 1.6 million square feet.
Our process is invaluable to our success. All investment decisions are made by our investment committee in accordance with our Investment Policy Statement (IPS). Strategically crafted, the IPS emphasizes our central mission: capitalizing on inefficiencies in real estate to provide sustainable returns through proven and disciplined investment and management strategies. Every facet of the IPS has been intricately designed to demystify our methodologies, underscoring our commitment to transparency, accountability, and the responsible management of entrusted capital. The IPS also guides us in making informed, consistent decisions, helping to mitigate risks, and optimize returns, while ensuring that our actions align with our long-term investment objectives.
Scottsdale Small Bay Portfolio
17255 N 82nd St & 17250 E Hartford Dr, 14441-14449 N 73rd St & 7301-7315 E Evans Rd, Scottsdale AZ 85260
Chris Hanson, the Principal of Hanson Capital Group (HCG), is renowned for his strategic foresight in the real estate sector. Starting with the acquisition of single-family homes for institutions during the Great Recession and a mortgage banking operation, Chris has adeptly navigated market trends, transitioning into multifamily and subsequently industrial real estate. His unique ability to identify lucrative opportunities has been pivotal to HCG’s success. Under Chris’s leadership, HCG has thrived in real estate and finance, showcasing his profound insight into both sectors. His dynamic approach and unparalleled experience fuel HCG’s ongoing growth and success.
Zach brings a unique blend of operational acumen and legal expertise to the real estate investment sector. As COO, he integrates strategic operational management, focusing on process streamlining and enhancing operational efficiency. Zach’s role involves a wide range of responsibilities, including team leadership, property oversight, investor relations, and ensuring compliance. His analytical approach and ability to handle challenges demonstrate his adaptability and dedication to the company’s success in the dynamic real estate market
Chris has been a driving force in the company’s growth and profitability. In his role, Chris leads the development and execution of acquisition strategies, combining his deep understanding of real estate trends and financial modeling to secure profitable investments. He manages both the internal team and external relationships, including brokers and financial partners, fostering a results-driven environment. His commitment to continuous learning and active industry engagement ensures Hanson Capital Group’s agility and success in the dynamic real estate market.
Jim’s extensive thirty-year career in the real estate sector is marked by his expertise in a wide array of areas. Known for his exceptional service and an owner-centric approach, Jim has a proven track record of handling diverse commercial, industrial, retail, and multi-family properties. Jim excels in recruiting and motivating top talent, fostering team engagement, and implementing best practices from an owner’s perspective. This approach not only enhances the value for clients and their properties but also supports the leasing, accounting, and management teams under his guidance.