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Equus Divvying 94,000-SF Building Into Office Condos

PHOENIX-Equus Realty Advisors LLC will put $1.4 million into the plan to convert one of its four office buildings into condominiums. The class B building in the Downtown will be getting a parking deck to support the plan.

By Jennifer D. Duell | Updated on April 26, 2005

PHOENIX-Equus Realty Advisors LLC will convert a 94,000-sf, class B office building into Downtown office condominiums, spending $1.4 million to mold the four-story, multi-tenant building into the Earll Professional Office Condominiums.

Space in the 202 East Earll Dr. building will be sold for roughly $165 per sf, including build-out. As part of the conversion, the La Jolla, CA-based Equus Realty is adding a parking deck to the property to provide an overall parking ratio of 4.2 spaces per 1,000.

Mykel Sprinkles, Equus’ investor relations director, tells GlobeSt.com that the firm started to explore a condo conversion in January. Tina Burger and Angie West of Scottsdale-based Shea Commercial LLC will handle the marketing for the 19-year-old building, which will have individual suites and entire floors for sale. Mittelstaedt Cooper Associates Ltd. of Phoenix is designing the conversion.

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