CAM Brings Tough Project Together

PHOENIX—Capital Asset Management, Phoenix, announces the sale of The Forum at Gilbert Ranch office complex for $9 million.  Located at Val Vista and Williams Field, the project is comprised of 92,440 square feet on 6.5 acres.  Left in turmoil, The Forum at Gilbert Ranch was a victim of the 2008 recession. With the original developer unable to complete the remaining construction, Capital Asset Management helped facilitate the completion of the project while at the same time creating value by adding to what will equate to over 23,000 square feet in leases. 

Capital Asset Management represented the seller, FNBN Forum LLC, a company formed by Sorenson Group Management LLC. The buyer of the property was EW Williams Field Associates, LLC.  Prior to that sale, CAM leased the adjacent retail component of the Forum at Gilbert Ranch from 35% occupancy to 100%, selling the property last year for $6.8 million.