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AZ Office Complex Acquired by Bow River Capital Partners in $28 Mil Deal

7/15/19

Denver-based Bow River Capital Partners closed on an AZ office buy, paying $27.95 mil for Valley Commerce Center, a 217.4k sf ($129/sf), multi-tenant property in Phoenix. The complex, located at 4745 and 4747 N. 7th St, was sold by Fenway Capital Advisors of Solana Beach, CA.

Valley Commerce Center is a two-building, four-story property with excellent frontage exposure to 7th St. Built in 1984, the property recently underwent over $6 mil in capital improvements including a state-of-the-art outdoor collaborative space including seating areas, a bocce ball court and two water features.

Steve Lindley, Eric Wichterman, Tracy Cartledge, Bob Buckley and Mike Coover of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

“Valley Commerce Center is located in one of Phoenix’s hottest neighborhoods, with new restaurants, bars and retail in the Uptown Plaza area and along the 7th Street Restaurant Row corridor,” Lindley said. “The buyer will continue the asset renovation, started by Fenway, to take advantage of tenant demand to locate in this exceptional location.”




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