The property was acquired by Transwestern Strategic Partners on behalf of its TSP Value and Income Fund for $58,850,000, according to a press release.
Situated at the intersection of Drinkwater Boulevard and Indian School Road, Lincoln Towne Center provides easy access to the Loop 101 and is directly across from Scottsdale City Hall.
It is also in close proximity to the Scottsdale Fashion Square, the Scottsdale Waterfront development and the W Hotel which provides access to numerous retail amenities, restaurants, hotels and condo and apartment homes.
The property also features a rare, four-level subterranean parking structure allowing for a parking ratio of 4.1 spaces per 1,000 square feet. Nearly half of the property is occupied by investment grade tenants including CNA, Catlin and EMC2.
Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield of Arizona represented the seller in the disposition.
The acquisition of Lincoln Towne Centre in February 2012 was the first asset acquired by Equus Capital Partners on behalf of its value-add fund, BPG Investment Partnership IX, L.P.
Author:Libby Miller Phone: 623-341-0348 Dated: February 26th 2015 Views: 1,208 About Libby: ...
View our latest blog posts in your RSS reader. Click here to access.
Mojica & Associates Real Estate has over 55 years of combined real estate experience here in the Valley. Concentrating on evolving trends in a rapidly growing market, we specialize in finding the perfect opportunity for first time buyers, families looking to upgrade their home, 2nd home buyers and investors. Whether you are looking for the perfect place to hang your hat or finding qualified buyers to purchase your current property at top market prices, we can get it done for you.
Mojica & Associates Real Estate professes that the only way to best serve our clients’ needs is to continually educate ourselves and our agents on the most current and future market trends. Whether it is cutting edge technology to showcase or find the perfect home, making sure our staff is the most knowledgeable in the Valley on contracts, curre nt laws governing real estate sales, short sales, or simply updating our listings throughout the day, we deliver.
Available to you, our most important client, is a vast network of business professionals dedicated to every facet of the buying or selling experience. We specialize in “targeted” marketing that provides optimal exposure through every forum available in today’s competitive market.
We've all been there. We watched some HGTV show, saw Joanna Gaine
"I have and will continue to refer Victor Huerta to anyone I come across who is looking to buy or sell. Vic helped my husband and I short sale our home. During the short sale process he always kept us in the loop of any updates or news. Because of Vic our short sale was a smooth process. Vic was also able to help us get into a rental home for the time being until we can be home owners again. We've enjoyed working with Vic and appreciate all the hard work he's done to help the short sale process go so smoothly."