SCOTTSDALE, ARIZ. — Transwestern Strategic Partners has acquired Lincoln Towne Centre, a 226,112-square-foot office property in downtown Scottsdale, for $58.8 million. The two-building property is located at 4150-4250 N. Drinkwater Blvd.
Lincoln Towne Centre is situated directly across from the Scottsdale City Hall, near the Loop 101. Nearly half of the property is occupied by investment-grade tenants, including CAN, Catlin and EMC2.
The seller, Equus Capital Partners, was represented by Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield of Arizona.
Equus had acquired the asset on behalf of its value-add fund, BPG Investment Partnership IX, L.P. Transwestern acquired the asset on behalf of its TSP Value and Income Fund. Transwestern Strategic Partners is the discretionary investment management arm of Dallas-based Transwestern Investment Group.