The building on 59th Ave near Union Hills in Glendale AZ was sold. Honeywell signed a lease good until July of 2024. I guess that's a victory for the bean counters and the ROA (return on assets). Any guesses on who will pocket the proceeds?
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Really just a change of landlords.
No announcement of Honeywell being evicted / exorcised / ousted / early retired from the facility.
Here's background information for Curious Minds Who Want To Know:
Maricopa County Assessor's Office Parcel #200-26-005:
https://mcassessor.maricopa.gov/mcs.php?q=20026005&mod=pd
Recorded document of B H 19019 NORTH 59TH AVENUE LLC / B H MANAGEMENT INC assignment of lease from LEXINGTON GLENDALE LLC:
https://recorder.maricopa.gov/UnOfficialDocs/pdf/20190271429.pdf
News Article:
https://azbigmedia.com/b-h-properties-acquires-honeywell-campus-in-glendale/
Another News Article:
https://roselawgroupreporter.com/2019/04/honeywell-rd-center-sells-for-26-5m/
And here's a good rumor:
B H 19019 NORTH 59TH AVENUE LLC heard about the Collaboration Station and wanted to expand it into a GIANT Starbucks facility with tanning salon, "Airport, Hair Care and Tire Center" there.
They wanted to move out to consolidate the Phx building space three years ago but the govt. said no. Guess they'll get around it now. They looked at moving into Deer Valley at the time.
I heard some weeks ago that the owners changed . But since its only a 5 yr lease it got me wondering what happens after. Maybe move to Deer Valley.
Did they sell the Space Division off?
I was always under the impression that Honeywell leased that building from someone since the day they moved in.