Lincoln Towne Center Trades for $59M

PHOENIX—Equus Capital Partners, Ltd. sold Lincoln Towne Centre, a two building property totaling 226,112 square feet located at 4150-4250 N. Drinkwater Boulevard in downtown Scottsdale, to Transwestern Strategic Partners on behalf of its TSP Value and Income Fund for $58.85 million. Transwestern Strategic Partners is the discretionary investment management arm of Transwestern Investment Group based in Dallas. 

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 the Scottsdale City Hall. It is also in close proximity to the nearly two million square foot Scottsdale Fashion Square, the Scottsdale Waterfront development and the W Hotel, providing a 24/7 environment within walking distance 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.