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Engineering Firm Pays $4M for Two-Building Complex

TEMPE, AZ-A local engineering firm decides to take advantage of favorable interest rates to purchase a two-building, 48,853-sf office complex for its new HQ.

By Jennifer D. Duell | Updated on December 28, 2004

TEMPE, AZ- In an effort to decrease its occupancy costs, a local engineering firm has acquired a two-building, 48,853-sf office complex where it plans to occupy 15,000 sf. McMardon LLC purchased Gateway Court for $4.4 million from Equus Phoenix I LLC of La Jolla, CA.

Located at 1430 and 1438 W. Broadway Rd., the class B buildings are 60% leased with Murray, UT-based Mountain West Telecom as the lead tenant, says Jeff Hartland, SVP of Grubb & Ellis-BRE Commercial LLC, who represented Equus Phoenix in the deal. Hartland was assisted by Laurel Lewis, Eric Wichterman and Stan Shafer, also of with Grubb & Ellis-BRE Commercial. McMardon was represented by Jeff Jennings with Phoenix-based ProStar Realty.

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