Lincoln Center Marks 97% Occupancy With New Deal

SCOTTSDALE, AZ-Scottsdale’s Lincoln Center, under a purchase option, hits 97% occupancy in a just closed pact for 5,343 sf with Title Security of Maricopa.

The tenant has signed a five-year lease valued at $750,000, Adam Tolson of the Phoenix office of Lee & Associates Arizona tells GlobeSt.com. The class B office building, totaling 91,803 sf, is situated at 6590 N. Scottsdale Rd.

Tolson represented the building owner, Vancouver, BC-based Anthem Properties in the lease negotiations. Phil Dawson of Dawson Commercial negotiated on the tenant’s behalf.

Tolson says Lincoln Center was one of seven bought about two years ago by Anthem. The portfolio contained two buildings in Scottsdale and five in Phoenix, all with low occupancies and value-add opportunities. Tolson says Anthem’s plan was to sell after the structures were boosted to 90% occupancies or better. To date, only Lincoln Center and Scottsdale Executive Villas, a 160,000-sf office building in South Scottsdale, remain in Anthem’s hands from that acquisition. And, Lincoln Center, he confides, is in escrow to a buyer, but that’s all he’s saying for now.