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Office Near Airport Finds New Owner and New Look

PHOENIX—The property is expected to get a facelift and lobby upgrades to attract a single tenant for its entire fourth floor, comprised of 26,570 square feet.

501 Gateway The new owner plans to give the building a facelift as well as upgrade the building lobby.

PHOENIX—In the process of getting a facelift as well as upgrades to the building lobby and amenities, 501 Gateway has been acquired for $17 million, according to Irgens–Phoenix. Irgens acquired the property in the name of 501 Gateway LLC. The company purchased the asset from Arizona-based 501 North 44th Street LLC.

Jason Meszaros, vice president/market manager for Irgens, tells GlobeSt.com: “We saw an excellent opportunity to buy a core asset in an important submarket. The 501 Gateway building is positioned perfectly for Irgens to use its expertise and local knowhow to polish this gem and position it for the next 30 years.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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