Valley Commerce Center, Phoenix

July 12, 2019 Comments (0) Views: 341 Arizona, National News, Southwest

Valley Commerce Center Sells for $28M

Fenway Capital Advisors sold Valley Commerce Center, a multi-tenant office building in Phoenix, for $27.95 million. The Solana Beach, CA seller shook hands with Denver-based buyer Bow River Capital Partners to dispose of the 217,434-square-foot asset at 4745 and 4747 N. 7th St.

Steve Lindley, Eric Wichterman, Tracy Cartledge, Bob Buckley and Mike Coover of Cushman & Wakefield’s Phoenix office represented the seller in the transaction. The property, which delivered in 1984, recently underwent a $6 million capital improvement plan, which added outdoor collaborative space that includes seating areas, a bocce ball court and two water features.

“Valley Commerce Center is located in one of Phoenix’s hottest neighborhoods, with new restaurants, bars and retail in the Uptown Plaza area and along the 7th Street Restaurant Row corridor,” Lindley said. “The buyer will continue the asset renovation, started by Fenway, to take advantage of tenant demand.”

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