Scottsdale Design District 2708-2732 N. 68th Street
Scottsdale, AZ
LOS ANGELES, CA – HFF announced today that it has arranged
$8.4 million in financing for Scottsdale Design District, a
109,652-square-foot showroom/flex property in Scottsdale, Arizona.
 |
| Todd Sugimoto |
HFF
worked on behalf of the borrower, Wilshire Capital Partners, LLC, to secure the
five-year, 3.86 percent, fixed-rate loan through CIBC World Markets. Loan proceeds were used to acquire the
property from a joint venture between Andell, Inc. and Fenway Properties.
The
Scottsdale Design District consists of seven buildings that were most recently
renovated in 2008, and are 88.1 percent leased to a tenant base catering to
interior designers, architects, trade professionals and their clients. The two largest tenants, which are under
long-term leases, are John Brooks, Inc. and Dean-Warren.
Situated on 9.24 acres, the property is located at 2708-2732
N. 68th Street in the southern portion of Scottsdale’s Arts District, which is
considered to be the epicenter of Phoenix’s art scene.
The
HFF team representing the borrower was led by managing director Todd
Sugimoto and real estate analyst Steven Paskhover.
Wilshire Capital Partners, LLC is a private real estate firm that
invests in apartment, office, industrial and debt opportunities throughout the
Western United States.
For a complete copy of the company’s news release, please
contact
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873
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