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