REBusinessOnline

Exeter Property Group Acquires Office Building Near Phoenix for $19.2M

92-Mountain-View-Scottsdale-AZ

CVS Health occupies 89 percent of 92 Mountain View, a 116,200-square-foot office building in Scottsdale, Ariz.

SCOTTSDALE, ARIZ. — Exeter Property Group has purchased 92 Mountain View, an office property located in north Scottsdale, a suburb of Phoenix. Equus Capital Partners sold the asset for $19.2 million. The transaction completes the seller’s disposition of its two-property, 223,249-square-foot office portfolio, including the previously announced sale of Scottsdale Gateway I.

CVS Health occupies 89 percent of the 116,200-square-foot property, which shares fiber connectivity with the main CVS Caremark campus that is near the building. Additionally, the property is adjacent to HonorHealth Scottsdale Shea Medical Center, a 433-bed, full-service, acute-care hospital.

Ben Geelan, Andrew Milne and Michael Legget of JLL represented the seller, while John DiVall provided in-house representation for the buyer in the deal. John Chun and Tim Brousse, also of JLL, advised from a debt and structured finance perspective.

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