Phoenix, January 29, 2018 – Continuing their quest to buy value-add office properties throughout the valley, ViaWest Group purchased Concorde Commerce Center, an office building located at 2222 W. Dunlap Avenue in Phoenix. The property was purchased with a partner for $9.5 million.
Built in 1998, Concorde Commerce Center is a three-story office building that contains approximately 138,430 square feet of space. The 9.3-acre site is located a half mile from Interstate 17.
Colliers International in Greater Phoenix has been chosen to handle leasing of the project. Ryan Timpani, Todd Noel, and Kyle Campbell are the exclusive leasing team for Concorde Commerce Center.
“This was a strategic acquisition for ViaWest because it is one of three buildings in the submarket that can accommodate an office user needing 100,000 square feet,” said Ryan Timpani with Colliers. “United Healthcare will be vacating 108,000 square feet that will become available in May.”
“This asset presents a great value-add opportunity for our company,” said Steven Schwarz, founding partner of ViaWest Group. “We will be modernizing and repositioning this office property like we have with many other assets around the metro area, including Biltmore Center, Nexus @ ASU Research Park, The Monroe, Connexion, San Tan Tech Center and many others.”
Concorde Commerce Center’s architecture features large spans of glass windows. The office property provides generous parking at 5.3 spaces per 1,000 square feet, with 90 percent of the spaces are covered. The sale was brokered through Barry Gabel and Chris Marchildon of CBRE.
Established in 2003, ViaWest Group is a Phoenix-based full service commercial real estate acquisition, development, property management, investment and advisory firm. ViaWest Group has been one of the fastest growing real estate investment companies in the Valley over the last few years with over $300MM of acquisitions. Since inception, ViaWest has been involved in over $1 billion of acquisitions. ViaWest Group is looking to acquire and develop more office, industrial, retail and commercial land parcels in the Southwestern United States.
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