Transwestern Purchases Three-Bldg Class A Center
CMD Realty Investment Fund IV, LP, c/o CMD Realty Investors, sold the three-building Phoenix Gateway Center to Transwestern Phoenix Gateway, LLC, for $96 million, or nearly $222 per square foot, in an all-cash deal.<br>
The properties include Gateway One, located at 426 N. 44th St.; Gateway Two, located at 432 N. 44th St., and Gateway Three, located at 410 N. 44th St. They total 432,592 square feet over 12.57 acres. The buildings were constructed between 1985 and 1988 and renovated in 2002-2003.
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