Dallas Investor Buys Three-Building Flex Portfolio in Phoenix’s Southeast Valley

Article originally posted on CoStar on June 10, 2021

Mountain Vista Commerce Center totals 134,713 square feet and was about 62% leased at the time of the sale. (CoStar)

Westmount Realty Capital LLC has purchased Mountain Vista Commerce Center, a three-building flex complex in the Ahwatukee Foothills neighborhood of Phoenix’s Southeast Valley.

The Dallas-based investor acquired the three-building complex from Northstar Commercial Partners for $17.4 million, according to Cushman & Wakefield, which brokered the deal.

Situated on more than 10 acres at 14647 S. 50th St., Mountain Vista Commerce Center totals 134,713 square feet and was about 62% leased at the time of the sale. One of the buildings is a state-of-the-art office property and the other two buildings are flex, according to Cushman.

“The project’s vacancy is concentrated in one building improved with cutting edge ‘plug and play’ office space that includes furniture and equipment,” Mike Coover, managing director at Cushman, said in a statement. “At the close of escrow there were significant prospective tenants pursuing the space.”

Coover, along with Cushman’s Eric Wichterman, Steve Lindley, Bob Buckley and Tracy Cartledge, represented the seller in the transaction. Adam Tolson of Lee & Associates provided market leasing advisory.

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