Tempe – Walton-EH Tempe Commerce JV VI LLC, a joint venture formed by Chicago, Ill.-based Walton Street Capital LLC (Perry Pinto, et al., principals) and Everest Holdings in Scottsdale (Joe Blackbourn, principal), paid $12.2 million ($76.10 per foot) to acquire 160,313 sq. ft. of back-office space located within the Tempe Commerce Park in Tempe. The seller in the cash transaction was 7410 & 7419 South Roosevelt Street Holdings LLC, a commercial mortgage backed security (CMBS). The beneficiary was the registered holders of GS Mortgage Securities Corp. II Commercial Mortgage Pass-Through Certificates Series 2007-GG10. The special servicer was CWCapital Asset Management LLC in Bethesda, Md. The two back-office buildings were marketed by Auction.com. The seller was represented by Sean Scott of Rockwood Real Estate Advisors in San Francisco, Calif. The buyer was represented by Rick Lee of Lee & Associates Arizona Inc. in Phoenix. The back-office space is comprised of a 85,245-square-foot structure at 7410 S. Roosevelt Street and 75,068 sq. ft. at 7419 S. Roosevelt Street. Continue reading
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