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October 21, 2020
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Equity Advantage Inc Acquires Phoenix Area Office Building in $11.5 Mil Deal


Equity Advantage Inc purchased Foothills Gateway Corporate Center, a 68.2k sf, upscale multi-tenant office building in Phoenix. The property, located at 4505 E. Chandler Blvd, in the prestigious Southeast Valley neighborhood of Ahwatukee Foothills, sold for $11.5 mil ($169/sf).

Foothills Gateway Corporate Center was built in 1999 and features prominent frontage and signage along Chandler Blvd, fast access to I-10 and the recently opened Loop 202 South Mountain Freeway and is surrounded by dense shopping and dining amenities. The building was 85% leased at the time of sale.

Eric Wichterman and Mike Coover of Cushman & Wakefield represented the buyer and seller, HB Foothills Gateway, in the transaction. Wichterman noted, “Foothills Gateway and the Ahwatukee trade area are ideally positioned to benefit greatly from the recent opening of the new 22-mile Loop 202 South Mountain freeway which now provides direct access to the western half of the Valley and significantly relieves I-10’s infamous congestion.”

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