Desert Troon Companies, a Scottsdale-based real estate development and investment firm, has completed the $122 million sale of 640,000 square feet of its original 800,000 square foot Class-A commercial office portfolio within the Perimeter Center business park located in North Scottsdale.
Tom Knoell, Jr., Director of Commercial Leasing for Desert Troon Companies represented the seller, Desert Troon Companies. The buyer was Wentworth Property Company, LLC and Northwood Investors.
“As one of the premiere office portfolios in the state, it has been Desert Troon Companies privilege to manage this standout portfolio with our partners,” said Daniel Smith, CEO of Desert Troon Companies. “Desert Troon Companies used this strategic disposition of assets to continue its targeted value add acquisition strategy.”
The 640,000-square foot office portfolio is located within the 260-acre Perimeter Center business park surrounded by prominent dining, shopping, entertainment and resort venues and easily accessible by the Loop 101 Freeway. The portfolio consists of five buildings. Desert Troon Companies originally developed it.
In addition to the Perimeter Complex, Desert Troon Companies recently added to its portfolio a long term concessionaire agreement for Scorpion Bay at Lake Pleasant Regional Park, The Peaks Corporate Center, a 120,000 square foot office complex in north Scottsdale and its interim headquarters at Thompson Peak and Pima also in north Scottsdale. Desert Troon Companies continues to develop and manage a diverse portfolio of commercial, retail and lifestyle property investments. Based in Scottsdale, Arizona for more than 30 years, the company’s depth and breadth of experience includes corporate build-to-suit, office, retail, hotel, master-planned community, and mixed-use and historic preservation projects. Notable lifestyle projects include Torreon Golf Community, Hassayampa Golf Club and Troon/Troon North Communities in Arizona, Cimarron Hills Golf and Country Club in Texas, and Red Mountain Resort in Utah.