$29.175M financing arranged for Scottsdale office property
JLL Capital Markets led financing efforts for the 203,642 SF, Class A Gainey Ranch Corporate Center II, which serves as Dansons’ corporate headquarters
PHOENIX – August 17, 2021 – JLL Capital Markets announced today that it has arranged $29,175,000 in financing for Gainey Ranch Corporate Center II, a Class A office property totaling 203,642 square feet in Scottsdale, Arizona.
JLL worked on behalf of the borrower, Dansons, LLC, to secure the long-term, non-recourse, fixed-rate acquisition loan through Benefit Street Partners Realty Trust.
Completed in 1991, Gainey Ranch Corporate Center offers golf course and mountain views and a 4:1 parking ratio with 90% of the parking located underground. Dansons took 100% occupancy immediately upon acquisition and Gainey Center will serve as Dansons’ Corporate Headquarters, facilitating the continued success of their pellet fuel appliances and multiple award-winning brands.
Gainey Ranch Corporate Center is positioned on a 7.57-acre site at 8877 N Gainey Center Dr. within the Gainey Ranch Corporate Center, which comprises 500,000 square feet of office space. This location is just one mile from the Loop 101, providing accessibility to the Scottsdale metro area and labor pool. The Central Scottsdale market, in which the property is located, offers more than 450 shops and 10 major shopping centers within three miles of the property. In addition, Gainey Ranch is just two miles from the Scottsdale Municipal Airport.
The JLL Capital Markets team representing the seller was led by Senior Director Brad Miner and Director Jason Carlos.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Dansons, LLC
Dansons was founded in 1999 with the goal of turning the waste of sawmills into a reliable source of energy. Today, Dansons is a global consumer goods corporation, and home to multiple award-winning, consumer backed brands. Dansons is active in real estate with 25 total factories and additional locations comprised of offices, distribution centers, pellet mills, and call centers located throughout the world, now totaling 27 countries and growing. Dansons has experienced tremendous growth in the past seven years, Pit Boss, one of their award winnings brands, accounted for 3.8% of U.S. barbecue grill market share in 2020, fifth-best among all other U.S. grill manufacturers. With wood pellet being the fastest-growing segment of the grill industry increasing its market share by 3.7% year over year, Pit Boss’s sales and market share will only continue to increase. In 2020 Dansons had its best year in units, profits, market share and net sales.