Bridge Investment Group Purchases 439,584 SF Office Campus in Phoenix
PHOENIX — Bridge Investment Group’s subsidiary Bridge Office Fund Manager has purchased Phoenix Gateway Center, a Class A office campus located on North 44th Street in Phoenix.
The 439,584-square-foot asset consists of two four-story buildings (One Gateway and Two Gateway) and one 11-story building (Three Gateway). Originally built between 1984 and 1988, the office complex recently underwent more than $4.7 million in renovations and capital improvements. Bridge plans to invest approximately $2.7 million in further enhancements at Phoenix Gateway Center, including upgrades to lobbies, elevator cabs, outdoor space, common areas on the individual floors, the fitness center and the conference room.
Renovations are slated to begin immediately, with the first phase scheduled for delivery in second-quarter 2020.
John Bonnell, Brett Abramson, Chris Latvaaho and Chris Beall of JLL will handle the leasing of the property. Bridge Commercial Real Estate LLC, the operating company for Bridge Office, will oversee all leasing, property management and redevelopment work at Phoenix Gateway.