Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Phoenix & Southwest  + Office  | 

Cali Investor Sells 100K-SF Arcadia Gateway Center

MIG Real Estate of California sold the 99,900-square-foot Arcadia Gateway Center, an office property at 4222 E. Thomas Rd. in Phoenix. The buyer, a trustee of the Varga Revocable Trust, paid $17.3 million for the asset, as part of a 1031 Exchange process.

McAlister Cleary and Kelly F. O’Dea with Marcus & Millichap represented the buyer, a first-time Arizona investor. Cushman & Wakefield’s Eric Wichterman negotiated on behalf of the seller. MIG Real Estate ended a close to six-year hold on the asset with the sale.

“Arcadia Gateway Center offers our investor a well-located, 96% occupied, stabilized investment,” Cleary said. With increasing demand and very limited new supply, office operations in Phoenix continue to improve, offering tremendous opportunities for both buyers and sellers in the market.”

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Amy Sorter


Inside The Story

Read more at Phoenix Business JournalConnect With Marcus & Millichap's ClearyConnect With Cushman & Wakefield's Wichterman

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

Step 1: Select Education
  • ◦Sale/Acquisition