Barcelona Center Sold, Tenant on Tap for Nightclub

Article originally posted on Phoenix Business Journal on November 12, 2010

The Barcelona Center at 15444 N. Greenway-Hayden Loop in Scottsdale was sold for $2.4 million by Scottsdale Place LLC to Capital Creek Gold LLC.

Both are Scottsdale-based entities. Brokerage Orion Investment Real Estate Solutions in Scottsdale handled both sides of the deal.

The 20,500-square-foot Barcelona Center had been built in 2006 by an entity owned by Danny Hendon, owner of Danny’s Family Cos., which is in Chapter 11 bankruptcy reorganization. Hendon did not own the land, however. He had a ground lease executed by Scottsdale Place LLC. As a result of court actions in the Danny’s Family Cos. bankruptcy, the improvements Hendon made became the property of Scottsdale Place LLC, according to Ari Spiro, Orion president. Scottsdale Place then put the center on the market.

The situation is the same for the adjacent Barcelona Nightclub, which Hendon also built on leased land. Though Scottsdale Place took possession of the club as a result of court action, it was not part of the recent sale.

Spiro said Scottsdale Place may have a new tenant for the 15,000-square-foot nightclub. That transaction is pending.