Dec. 11, 2013–Cushman & Wakefield of Arizona, Inc. completed the sale of the Arcadia Gateway Center, located at 4222 East Thomas Road, Phoenix, Arizona 85018.
The four-story, Class A office building was constructed in 1999 and totals 89,835 square feet. The property currently boasts 93 percent occupancy and included the adjacent three-story parking structure.
MIG Real Estate of Newport Beach, CA., purchased the property from 4222 E. Thomas Rd., LLC of Phoenix, AZ.
“Arcadia Gateway Center is one of the newest office buildings along the 44th Street Corridor and features an adjacent parking structure, a rare amenity in this submarket,” said Chad Littell. “The Class A office provides tenants with a central Valley location, proximity to high-end shopping, and stunning views of Camelback Mountain.”
Littell, Chris Toci and Tim Whittemore of Cushman & Wakefield of Arizona represented the seller in the transaction.