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July 03, 2019  

Phoenix Office Complex in Play

An investment firm is looking to recapitalize or sell a Phoenix office complex that’s roughly one-quarter vacant.The 231,000-square-foot East Gateway Centre, at 4646 and 4686 East Van Buren Street, is valued at about $180/sf, or $42 million. Newmark is representing the owner, Pacifica Cos. of San Diego, which prefers to retain a 5-10% stake but would consider an outright sale.The Class-A complex, in the 44th Street Corridor submarket, is...

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