The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 19, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
$17 Mil Buys Phoenix Office Building

7/19/19

Arcadia Gateway Center, a four-story, 90.2k sf Class A multi-tenant office building in Phoenix, sold for $17.25 mil ($191/sf). The property is located at 4222 E. Thomas Rd, east of Hwy 51 and north of Hwy 202.

Constructed in 1999 and currently 96% leased, Arcadia Gateway Center provides a three-story parking structure, building signage, large L-shaped floor plates and fast access to Sky Harbor International Airport and the Loop 101, 51, 143 and 202 Freeways. Ideally positioned west of the northwest corner of Thomas Road and 44th Street, the property is in close proximity to over 75 restaurants and over 3 msf of retail within one mile.

Eric Wichterman, Mike Coover and Tim Whittemore of Cushman & Wakefield Phoenix represented the seller, MIG Real Estate LLC, in the transactio. McAlister Cleary of Marcus & Millichap repped the buyer, Clayton A. Varga, trustee of the Varga Revocable Trust.

Wichterman stated, “Arcadia Gateway has achieved impressive leasing success and is a proven force in the northern portion of the 44th Street Corridor. The new ownership will enjoy reliable cash flow and healthy lease rate growth as the property continues to thrive due to a collection of strong fundamentals, including its close proximity to the prestigious Arcadia and Paradise Valley neighborhoods and a superb collection of restaurant amenities.”





Return to the Archive page


 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media