Westport Capital Partners LLC, a Wilton real estate investor specializing in bargain buyouts of distressed or foreclosed properties, has purchased a four-building business park in suburban Scottsdale, Ariz.
Financial terms of Westport Capital’s acquisition of Pinnacle Peak Business Center in Deer Valley, Ariz., north of Scottsdale, weren’t disclosed.
Altogether, the flex-industrial park contains 124,000 square feet that is about 70 percent leased, mostly to an unnamed manufacturer and a medical applications outfit, Westport Capital said Tuesday.
Though built in 2006, Westport says it will make unspecified upgrades to the property and aggressively market the remaining vacancy to other tenants.
Managing Principal Russel S. Bernard said in a statement that the Pinnacle property “is a prime example of Westport’s opportunistic investment philosophy.”
According to its homepage, “each asset in the portfolio was purchased opportunistically or through bankruptcy, foreclosure, or receivership.”
