Equus Trades Tucson Warehouse Portfolio for $165.7M

Everview Partners purchased an 85-building, 1.25 million square foot shallow bay industrial portfolio across Tucson for $165.75 million. The portfolio was roughly 90 percent leased to 452 tenants at the time of sale. The portfolio spanned 14 properties.

The seller, Pegasus Tucson Owner LLC of Newtown Square, PA, is associated with Equus Capital Partners. Real Estate Daily News reports that the properties were originally acquired by Equus-sponsored funds in October 2021 for approximately $150 million. 

Will Strong, Michael Matchett, Madeline Warren, Molly Miller and Jack Stamets with Cushman & Wakefield’s National Industrial Advisory Group, together with Paul Hooker of Cushman & Wakefield | PICOR in Tucson, represented both the buyer and seller.

The properties provide a mix of warehouse, office and flex space for businesses throughout the Tucson market. Their locations span several established industrial and employment corridors, including Forbes Boulevard, Prince Road, Ruthrauff Road, Palo Verde Road, Research Loop, Dodge Boulevard, Speedway Boulevard and East 29th Street.