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Equus Sells Scottsdale Gateway I Medical Office Building in Arizona for $27M

Scottsdale-Gateway-I-Scottsdale-AZ

Scottdale Gateway I in Scottsdale, Ariz., features 107,049 square feet of medical office space.

SCOTTSDALE, ARIZ. — Equus Capital Partners has completed the disposition of Scottsdale Gateway I, a medical office building located on 8.5 acres in Scottsdale. An undisclosed buyer acquired the property for $27 million.

Built in 1998, the 107,049-square-foot building features a two-story atrium lobby, 58,000-square-foot floor plates and a parking ratio of 5.8 cars per 1,000 square feet, as well as additional development potential. At the time of sale, the building was 96 percent occupied. Scottsdale Gateway I is located adjacent to Honor Health’s 427-bed Scottsdale Shea Medical facility.

The property was originally part of a two-building office portfolio that Equus acquired in 2014 on behalf of BPG Investment Partnership IX, a discretionary fund managed by the firm.

Benjamin Geelan and Andrew Milne of JLL represented the seller in the deal. Bryan Taute of CBRE served as leasing agent on the assignment.

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