Equus Capital Partners buys two office buildings in Scottsdale

TR Scottsdale Gateway I Corp. and TR 92 Mountain View Corp. sold two Class A office buildings in Scottsdale to Equus Capital Partners of Los Angeles for $44.15 million. The sale included 106,931 square-foot Scottsdale Gateway I at 9201 E. Mountain View Road, and 116,200 square-foot 92 Mountain View at 10001 N. 92nd St. Barry Gabel and Chris Marchildon of CBRE in Phoenix, along with Kevin Shannon, Ken White and Michael Moore at CBRE in Los Angeles, brokered the transaction between the sellers. Jenifer Ratcliffe and Erin Curry of LPC Realty Advisors in Chicago, as well as David Krumwiede locally, also assisted the seller. Jonathan Praw, head of Equus Capital Partner’s West Coast Regional Office, represented the firm.

Major deals

The Lodge Luxury Apartments LLC (Bassham Family Trust) sold The Lodge Apartments at 3601 S. Lake Mary Road in Flagstaff to Clear Sky Lodge LP (Clear Sky Capital, Marcus Kurschat) for $31.85 million. David Fogler and Steven Nicoluzakis of Cassidy Turley negotiated the transaction for this 252-unit luxury apartment community. This is the third multifamily property that Clear Sky Capital has purchased in 2014. It bought Timberline Place in January and Timberline Village in May.

MJA Investments Inc. sold a 74,514 square-foot industrial property at 1620 W. Sunrise Blvd. in Gilbert to Rhodes Family Trust in a 1031 tax deferred, off market deal for $6.65 million. Jeff Hays and Chad Neppl of Commercial Properties Inc. in Tempe represented the seller, and Jim Stockwell and Mike Goldwater, also at Commercial Properties Inc., represented the buyer of this reinforced concrete building, which is 100 percent leased by Stara Technolgoies Inc.

Chariot Eagel-West Inc. sold a 72,570 square-foot industrial property, a nuclear response center at 8100 W. Buckeye Road in Tolleson to Barnhart Crane and Rigging Co. for $3.9 million. Andy Jaffe of Commercial Properties Inc. in Tempe represented the buyer, and the seller was self-represented.

Coneen Family Trust of California sold Talavi Business Park at 5810 W. Beverly Lane in Glendale to Ironwood Glendale LLC for $2.3 million. Eric Wichterman and Mike Coover of Cassidy Turley represented the seller, and Mike Sayre of Cushman and Wakefield represented the buyer of this Class B office development in the Glendale submarket.

Vistoso Automotive LLC sold a 6,131 square-foot automotive building at 12945 N. Oracle Road in Tucson to Madstart LLC for $1.2 million. Jake Ertle of Rein Grossoehme in Scottsdale represented both the seller and the buyer.

Kuehne + Nagel Inc. signed a five-year lease for a 201,666 square-foot warehouse/distribution center at 2592 E. Hanna Road in Casa Grande with Clarion Partners. Patt Harlan, Steve Sayre and Kyle Westfall of JLL represented the landlord, and the tenant was self-represented. With approxiamtely 63,00 employees at more than 1,000 locations in over 100 countries, the Kuehne + Nagel Group is one of the world’s larger logistics companies.

Promotions and hires

Retail broker Brian Gast joined Velocity Retail Group LLC in Phoenix as a senior vice president. With over 12 years experience in the industry, he will focus on working with owners of shopping centers and retailers. Gast received his degree from Arizona State University.

Melissa Scott joined Sunbelt Holdings as property manager for Arizona State University Research Park, a 320-acre research and development park. A nine-year veteran of property management, she most recently was commercial property manager for Victoria Properties Management of Tempe. Scott’s responsibilities will include facility management of ASU Research Park for overseeing property maintenance and landscaping activities, creation and implementation of capital improvements, overseeing tenant building projects and lease administrative functions as well as maintaining tenant relations.

Send real-estate news to john.mclean@arizonarepublic.com.

Article source: http://www.azcentral.com/story/money/business/2014/06/12/equus-capital-partners-buys-two-office-buildings-scottsdale/10367311/