A joint venture between CarVal Investors and MainSpring Capital Group has acquired roughly 272,000 SF of office at Pima Center in Scottsdale for approximately $50 million, or $183.97 per square foot.
The portfolio is anchored by a long-term ground lease on the Salt River Pima-Maricopa Indian Community, with a strong roster of corporate tenants in place at acquisition.
Ross Brown Partners has been the long-term broker and property manager for Pima Center since the property's original development, with historical occupancy consistently above 90%.