Phoenix Gateway Center, Phoenix

October 16, 2019 Comments Off on Bridge Office Snags 440K-SF Phoenix Gateway Center Views: 812 National News, Phoenix & Southwest News, Southwest

Bridge Office Snags 440K-SF Phoenix Gateway Center

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Bridge Office Fund Manager, a subsidiary of Bridge Investment Group LLC, acquired Phoenix Gateway Center, a 439,584-square-foot Class A office campus on North 44th Street in Phoenix. Seller Lowe Enterprises Investors of California came away from the deal with $85.7 million.

Situated at 410, 426 and 432 N. 44th St., the Gateway Center consists of three buildings, and is less than one mile from Sky Harbor International Airport. During LEI’s four-year hold, it had invested more than $4.7 million in renovations and capital improvements. Bridge plans to invest approximately $2.7 million to enhance the asset. Upgrades will be made to lobbies, elevator cabs, outdoor space, common areas, the fitness center and conference room.

“With its prime location and spacious, campus-like setting, Phoenix Gateway Center checks all of the boxes for our acquisition strategy,” said Bridge’s David McCleve.

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