PHOENIX—7th Gate Center, a 43,426 square foot mixed-use projectlocated at 1601 N. 7th Street in Phoenix, closed for $5million. Braxton Glass, vice president ofORION Investment Real Estate in Scottsdale,facilitated the transaction purchased by Cole ValleyPartners, a boutique commercial real estate investmentfirm based in San Francisco. Harnessing an innovative trend in thereal estate capital market, crowdfunding platformRealtyShares, Inc. assisted Cole Valley Partnersin sourcing equity for the transaction.

The project is located on the northeast corner of 7th Street andMcDowell Road, one of the highest traffic dual artery intersectionsin metropolitan Phoenix. The property consists of approximately39,000 square feet of multi-tenant office space over two levels ofunderground parking, along with a ground floor Chase bank branch,drive through lanes and associated surface parking.

7th Gate Center is the second Phoenix area purchase for ColeValley Partners. This also marks the second transaction closedthrough a Cole Valley/RealtyShares collaboration, as well as thelargest crowdfunded commercial real estate transaction to date inmetropolitan Phoenix.