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Equus Drops $15.75M for Prime Office Complex

PHOENIX-Equus Realty Advisers takes the deed to its 10th property in four years. The eight-building Valley Commerce Center, totaling 240,000 sf, is primed for repositioning. Equus has a definite plan in hand to boost occupancy above the current 78%.

By Beverly Ford | Updated on November 14, 2002

PHOENIX-A prime eight-building office complex has changed hands in a $15.75-million deal that bought La Jolla based Equus Realty Advisors title to a 240,000-sf property known as the Valley Commerce Center.

It was Equus’ 10th acquisition in the Phoenix market in four years. “We’ve made a commitment to Arizona,” President Chad Carpenter tells GlobeSt.com of the company’s acquisitions. “We’re going to continue to grow here.”

The firm, a real estate investment adviser and “opportunity” buyer of office and industrial properties in the western US, grabbed the complex at 4745 and 4747 N. 7th St. in a deal with seller SOFI IV, an opportunity fund associated with Starwood Capital. Rob Rizzi of Broad Street Advisors in New York City represented buyer and seller in the transaction.

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