PHOENIX–MIG Real Estate of California haspurchased an 89,835-square-foot, class A office building here.

Arcadia Gateway Center is located at 4222 EastThomas Road, in a central Phoenix submarket with nearly four timesthe market's average submarket net absorption resulting in one ofthe lowest submarket vacancy rates in Phoenix.

The four-story office building features avariety of suite sizes and a three-story, detached parkingstructure. The building is currently 93%leased.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.