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Equus Sells Scottsdale Office Portfolio for $46M
Newton Square, PA-based Equus Capital Partners divested a two-property office portfolio totaling 223,249 square feet in north Scottsdale for $46.2 million. The assets included Scottsdale Gateway I (pictured) and 92 Mountain View.
Scottsdale Gateway I is a 107,049-square-foot, two-story, Class-A office/medical building at 9201 E. Mountain View Rd. in Scottsdale. The 96%-occupied asset is anchored by HonorHealth and SimonMed Imaging and was acquired by an unnamed buyer for $27 million.
Equus’ Robert Butchenhart says of the 1998-built Scottsdale Gateway I, “Equus’ capital improvement program, including lobby renovation, new monuments signage, as well as numerous exterior upgrades, has positioned the property for long term asset value from a strong tenant roster with long-term history at the property.”
92 Mountain View was purchased for $19.2 million by Exeter Property Group. The 116,200-square-foot asset is 89% leased to CVS Health
JLL’s Ben Geelan, Andrew Milne and Michael Leggett represented the seller.
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- ◦Sale/Acquisition