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REA
March 21, 2018  

Scottsdale Complex Up for Grabs

An iStar Financial partnership is marketing a Class-A office complex near Phoenix that could attract bids of $100 million.The 345,000-square-foot Raintree Corporate Center, in Scottsdale, Ariz., is 90% occupied. At the estimated value of $290/sf, the buyer’s initial annual yield would be 7%. Newmark is representing New York-based iStar and its partner, Equus Capital of Yardley, Pa.The two-building complex, which was developed in 2007-2008,...


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