{"id":1004116423,"date":"2015-03-28T13:47:00","date_gmt":"2015-03-28T21:47:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=336496"},"modified":"2020-04-23T00:43:55","modified_gmt":"2020-04-23T08:43:55","slug":"laurus-corp-acquires-scottsdales-canyon-village","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/laurus-corp-acquires-scottsdales-canyon-village\/","title":{"rendered":"Laurus Corp. Acquires Scottsdale\u2019s Canyon Village"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

The Canyon Village Office Park<\/p>\n<\/div>\n

Laurus Corp. has acquired Canyon Village, a four-building, 93,890-square-foot mixed-use office complex in Scottsdale\u2019s Airpark submarket. The property is part of the DC Ranch development and also features retail, restaurants and a 289-space parking structure. Terms of the deal, which was announced on March 18, were not disclosed.<\/p>\n

Located at the corner of Thompson Peak Parkway and Legacy Boulevard, the asset is five minutes away from Loop 101 Pima Freeway. Canyon Village was only 76 percent leased when the deal closed, but its new owners expressed confidence in its future. The Scottsdale Airpark submarket is Arizona\u2019s second-largest employment center and was one of last year\u2019s best- performing regional submarkets.<\/p>\n

\u201cCanyon Village presents strong upside potential through current rental growth and a unique opportunity to acquire an institutional-quality project in a growing area that is only getting better,\u201d said Andres Szita, chairman of Laurus, which is an affiliate of Ethika Investments L.L.C. \u201cThe project is particularly desirable as it represents one of only a few opportunities tenants have who are looking for Class-A office space in the northern Scottsdale area.\u201d<\/p>\n

Image Courtesy of <\/em>Laurus Corporation<\/em><\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Laurus Corp., an affiliate of real estate private equity firm Ethika Investments, L.L.C., recently acquired the Canyon Village office park in Scottsdale for an undisclosed amount. Canyon Village is a four-building, 93,890-square-foot office complex in the DC Ranch mixed-use neighborhood center. It features in addition to office components, various retailers and restaurants.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004116423","post","type-post","status-publish","format-standard","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"\nLaurus Corp. 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