REBusinessOnline

Equus Capital Partners Sells Raintree Corporate Center in Arizona for $91.7M

Raintree-Corporate-Center-Scottsdale-AZ

The 345,417-square-foot Raintree Corporate Center in Scottsdale, Ariz., was 90 percent leased at the time of sale.

SCOTTSDALE, ARIZ. — Equus Capital Partners has completed the sale Raintree Corporate Center, an institutional-quality office project in Scottsdale. Funds managed by Oaktree Capital Management and Cypress Office Properties acquired the multi-tenant property for $91.7 million.

Situated on 11.6 acres at 8800 and 8888 E. Raintree Drive, the 345,417-square-foot property was 90 percent leased at the time of sale. The asset consists of two three-story office buildings featuring a six-level parking garage and on-site amenities including a deli/restaurant and fitness center.

CJ Osbrink, Kevin Shannon, Ken White, Brad Burton and Paul Jones of Newmark Knight Frank represented the seller, while the buyer was self-represented in the transaction.

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