{"id":1004289794,"date":"2019-01-07T02:51:59","date_gmt":"2019-01-07T10:51:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004289794"},"modified":"2022-12-08T16:59:51","modified_gmt":"2022-12-09T00:59:51","slug":"equus-capital-sells-345-ksf-office-in-scottsdale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/","title":{"rendered":"Equus Capital Sells 345 KSF Office in Scottsdale"},"content":{"rendered":"

By Keith Loria<\/p>\n

\"Raintree<\/a>

Raintree Corporate Center<\/p><\/div>\n

A joint venture between Oaktree Capital Management LP and Cypress Office Properties has acquired Raintree Corporate Center in Scottsdale, Ariz. Equus Capital Partners sold the 345,417-square-foot, multi-tenant office property for $91.7 million.<\/p>\n

Located at 8800 and 8888 E. Raintree Drive, the institutional-quality office project sits on a little more than 11.6 acres and was constructed between 2007 and 2008. The asset features two three-story office buildings and a six-level parking garage. It also offers on-site amenities such as a deli\/restaurant and fitness center.<\/p>\n

The property was 90 percent leased at the time of the deal. Its tenant roster includes Meritage Homes and The Hartford.<\/p>\n

\u201cRaintree fits the desirable asset profile we look for when deploying capital in our real estate strategy\u2014high-quality, stable tenant base, modern office product without competition from new supply, and location in one of the best submarkets within a high growth market,\u201d <\/em>Mark Jacobs, Oaktree Real Estate\u2019s managing director & co-portfolio manager, said in prepared remarks.<\/p>\n

Newmark Knight Frank\u2019s team of CJ Osbrink, Kevin Shannon, Ken White, Brad Burton and Paul Jones arranged the sale on behalf of the sellers.<\/p>\n

\u201cRaintree Corporate Center offered new ownership an opportunity to acquire a highly amenitized and institutionally owned and managed office project with attractive going in yields and realistic short-term and long-term embedded value,\u201d<\/em> Osbrink said in a prepared statement.<\/p>\n

A submarket to watch<\/h2>\n

Raintree Corporate Center is situated in the Scottsdale Airpark submarket, considered one of the more desirable areas in the greater Phoenix MSA. The campus is within a mile of the TPC Scottsdale Golf Courses, which hosts the world-renowned Waste Management Phoenix Open, and only a half mile from the Scottsdale Airport. It also offers direct access to and visibility along the Pima Freeway, which sees more than 160,000 vehicles per day.<\/p>\n

According to Cushman & Wakefield\u2019s latest Phoenix market report, the overall average asking rate in the metro Phoenix office market was $25.43 per square foot in the third quarter of 2018, a $0.15 increase from the previous quarter.  The Scottsdale Airpark submarket currently has a 14.8 percent vacancy rate and is commanding rents of approximately $28.63 per square foot.<\/p>\n

Earlier in January, Equus acquired Lincoln Legacy One<\/a>, a 207,834-square-foot Class A office building situated in the mixed-use park known as Legacy Town Center in Plano, Texas. In December, Equus acquired the Highlands Campus Tech Centre<\/a>, a three-building office and flex complex in Bothell, Wash., for $38.1 million from Investcorp.<\/p>\n

Images courtesy of NKF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Working on behalf of the seller, Newmark Knight Frank facilitated the disposition of Raintree Corporate Center, a two-building, multi-tenant asset.<\/p>\n","protected":false},"author":451,"featured_media":1004289821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21742,21747,1601,15],"tags":[41393,35507,33346,33532,36007,32944],"class_list":["post-1004289794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-latest","category-office","category-phoenix","category-west","tag-cj-osbrink","tag-cypress-office-properties","tag-equus-capital-partners","tag-kevin-shannon","tag-newmark-knight-frank","tag-oaktree-capital-management"],"acf":[],"yoast_head":"\nEquus Capital Sells 345 KSF Office in Scottsdale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equus Capital Sells 345 KSF Office in Scottsdale\" \/>\n<meta property=\"og:description\" content=\"Working on behalf of the seller, Newmark Knight Frank facilitated the disposition of Raintree Corporate Center, a two-building, multi-tenant asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-07T10:51:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:59:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/\",\"name\":\"Equus Capital Sells 345 KSF Office in Scottsdale - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg\",\"datePublished\":\"2019-01-07T10:51:59+00:00\",\"dateModified\":\"2022-12-09T00:59:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg\",\"width\":800,\"height\":620,\"caption\":\"Raintree Corporate Center\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Equus Capital Sells 345 KSF Office in Scottsdale\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Equus Capital Sells 345 KSF Office in Scottsdale - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/","og_locale":"en_US","og_type":"article","og_title":"Equus Capital Sells 345 KSF Office in Scottsdale","og_description":"Working on behalf of the seller, Newmark Knight Frank facilitated the disposition of Raintree Corporate Center, a two-building, multi-tenant asset.","og_url":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-01-07T10:51:59+00:00","article_modified_time":"2022-12-09T00:59:51+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg","type":"image\/jpeg"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/","url":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/","name":"Equus Capital Sells 345 KSF Office in Scottsdale - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg","datePublished":"2019-01-07T10:51:59+00:00","dateModified":"2022-12-09T00:59:51+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg","width":800,"height":620,"caption":"Raintree Corporate Center"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-345-ksf-office-in-scottsdale\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Equus Capital Sells 345 KSF Office in Scottsdale"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Raintree-Corporate-Center.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004289794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004289794"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004289794\/revisions"}],"predecessor-version":[{"id":1004289824,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004289794\/revisions\/1004289824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004289821"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004289794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004289794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004289794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}