West Valley Properties Inc Acquires Office Property In Gilbert, AZ For $53.1M

The property asset involved in this transaction is an office located at 225 & 335 East Germann Road in Gilbert, AZ. The property spans 149,321 square feet and was sold for a total price of $53,100,000, resulting in a price per square foot of $356. The buyer of the property was West Valley Properties Inc, while the seller was Orsett Properties. The transaction was facilitated by Newmark as the broker.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $53,100,000
• Address: 225 & 335 East Germann Road, Gilbert, AZ
• Market: Gilbert, AZ
• Buyer: West Valley Properties Inc
• Seller: Orsett Properties
• Broker: Newmark
• Square Footage: 149,321
• Price per Square Foot: $356

This transaction signifies the acquisition of the office property by West Valley Properties Inc from Orsett Properties. The deal was successfully brokered by Newmark. The transaction showcases the robust real estate market in Gilbert, AZ, and highlights the demand for office spaces in the area.