Crown Realty & Development Buys CVS Health Building in Phoenix for $40.4M

by Nellie Day

PHOENIX — Crown Realty & Development has purchased a 138,240-square-foot office building in Phoenix that is occupied by CVS Health for $40.4 million. The space, known as Four Gateway, is located at 444 N. 44th St. State Farm occupied the building on a short-term lease while the company waited to consolidate operations at its new regional campus at Marina Heights on Tempe Town Lake. CVS, which signed its lease this past April, now occupies the entire building. CBRE’s Jim Fijan and Will Mast executed the transaction. The seller was VanTrust Real Estate.

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