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11/27/19
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The Forum at Gilbert Ranch, a 92.5k sf, Class A office and medical campus in Gilbert, AZ, traded hands in a $20.5 mil ($222/sf) transaction. Forum at Gilbert LLC, a private Midwestern buyer, acquired the property from Denver-based EverWest Real Estate Investors.
The Forum at Gilbert Ranch was 93% leased at the time of sale to a variety of finance, real estate, coworking and medical tenants. The property is located at 1472, 1482, 1528 and 1530 E. Williams Field Rd and 2314 S. Val Vista Dr, within Phoenix’s East Valley.
The five-building campus features one single-story building and four two-story buildings. The campus offers modern construction and improvements, subterranean and covered parking with a parking ratio of 4.4. spaces per every 1,000 square feet, excellent ingress/egress and abundant on-site amenities. The property is easily accessible from the Loop 202 freeway via Val Vista and Williams Field. San Tan Village, the area’s premier regional outdoor shopping center, is less than a mile from the property.
Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Doug Mack of CBRE Investment Properties – SoCal/Phoenix represented the seller in the transaction. Jeff Stein and Jeff Harris of CBRE Debt & Structured Finance in Houston arranged the financing for the buyer. CBRE’s Jamie Swirtz and Bruce Suppes will lease the property on behalf of the new ownership.
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