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| 92 Mountain View 92 Mountain View, a 116,200 square foot asset, is 89% leased to CVS Health (S&P: BBB) and shares fiber connectivity with the main CVS Caremark campus, Scottsdale, AZ |
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| Ben Geelan |
PHOENIX, AZ – JLL Capital
Markets announced it has completed the $46.2 million sale of a two-property
office portfolio totaling 223,249 square feet in the northern part of
Scottsdale, Arizona, on behalf of Equus Capital Partners.
Both buildings are adjacent to the HonorHealth Scottsdale Shea
Medical Center, a 433-bed, full-service acute care hospital, which is the
eighth largest employer in the state.
Scottsdale Gateway I sold for $27 million
and is anchored by HonorHealth (Moody’s: A2) and SimonMed Imaging. The medical
office building offers 107,049 rentable square feet and is currently 96%
occupied.
A large parcel and ample parking offer a future development
opportunity on the site.
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 (S&P: BBB) and shares fiber connectivity with the main
CVS Caremark campus, which is proximate to the property.
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| Andrew Milne |
Located in the premier submarket of Phoenix, the portfolio is
walking distance to the more than 1.4 million square feet of upscale shopping
and dining options and provides excellent accessibility via the Loop 101.
The
JLL Capital Markets team representing the seller included Director Ben
Geelan, Managing Director Andrew Milne from the National Healthcare
Capital Markets Team and Senior Managing Director Michael Leggett.
Additionally, Managing Director John Chun, who is a
member of the National Healthcare Capital Markets Team, and Director Tim
Brousse advised from a debt and structured finance perspective.
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| Michael Leggett |
Exeter was represented by John DiVall, who oversees
the Southwestern U.S. for the company.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment advisory, debt placement, equity placement or a recapitalization.
The firm
has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
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| John Chun |
About Equus
Capital Partners, Ltd.
Equus Capital Partners is one of the nation’s leading private
equity real estate fund managers. Equus’ diversified portfolio consists
of office, multi-family, industrial, and retail properties located throughout
the United States.
The firm
is headquartered in the Philadelphia area with regional offices in Chicago; Los
Angeles; Washington, D.C.; Atlanta and Raleigh-Durham.
About Exeter Property Group
Exeter Property Group is a real estate investment manager focused
on industrial properties and portfolios across North America and Europe.
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| John DiVall |
Its combination of local execution and national
scope allows Exeter to construct diversified, high-performing portfolios to
deliver superior real estate solutions to its tenants and to deliver proven
risk-adjusted returns to its investors.
CONTACT:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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