Everest Holdings


Everest Sells El Dorado Tech Center for $39 Million

January 17th, 2018 11:22:30 am

Gilbert – A venture formed by Arch Street Capital Advisors LLC in Greenwich, Ct. (Craig Friedman, chairman) has expanded into the Valley by paying $39 million ($216.09 per foot) to buy a back-office building in Gilbert that is leased to Scottsdale-based GoDaddy Inc. (NYSE:GDDY). The 180,480-square-foot project, located at 2299 W. Obispo Avenue, is within the El Dorado Lakes community east of the 101 Loop (Price Freeway) and south of US Highway 60 (Superstition Freeway). The seller of the property was W-EH El Dorado Holdings JV VII LLC, formed by Walton Street Capital LLC in Chicago, Ill. and Everest Holdings LLC in Scottsdale (Joe Blackbourn, principal). The deal was negotiated by a team of brokers from Newmark Knight Frank in So. Calif. and Mike Garlick, who is managing director of the NKF Phoenix office. The two-story structure, called El Dorado Tech Center, is fully occupied by The publicly-traded internet domain registrar and web hosting company uses the facility as a call center and for R&D. The Gilbert purchase is the first in the Phoenix market for Arch Street Capital Advisors, a privately-held real estate investment and advisory firm. The company acquired El Dorado Tech Center in a joint venture with its equity capital partner BMA International Group of Dubai in the United American Emirates. Maricopa County records show El Dorado Operating Co. (Arch Street Capital/BMA entity) purchased the Gilbert property with a $25.35 million loan from Ladder Capital Finance LLC in New York City, N.Y. The NKF brokers from So. Calif. included: Kevin Shannon, Ken White and Rick Stumm of El Segundo; Brunson Howard in San Diego and Paul Jones of Newport Beach. In June 2015, BREW reported the Walton/Everest Holdings entity paying $18.6 million ($103.06 per foot) to buy the project. The 15.05-acre property was developed in 2001 and expanded in 2005. Learn more from Damian Taylor of Arch Street Capital at (203) 413-8000. Talk to Blackbourn at (480) 860-6500. Call Garlick at (602) 952-3825. Shannon is at (310) 491-2005.


BREW - 1/26/18

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