January 10, 2020 – On behalf of HB Foothills Gateway, Cushman & Wakefield has closed the sale of Foothills Gateway Corporate Center located at 4505 E. Chandler Boulevard in Phoenix. Equity Advantage Inc. purchased the property for $11.5 million.
Located in the prestigious Southeast Valley neighborhood of Ahwatukee Foothills, Foothills Gateway Corporate Center is a 68,198-square-foot upscale multi-tenant office building. The property was built in 1999 and features prominent frontage and signage along Chandler Boulevard, fast access to I-10 and the recently opened Loop 202 South Mountain Freeway and is surrounded by dense shopping and dining amenities. The building was 85% leased at the time of sale.
Eric Wichterman and Mike Coover of Cushman & Wakefield represented the buyer and seller in the transaction. Wichterman stated, “Foothills Gateway and the Ahwatukee trade area are ideally positioned to benefit greatly from the recent opening of the new 22-mile Loop 202 South Mountain freeway which now provides direct access to the western half of the Valley and significantly relieves I-10’s infamous congestion.”