PHOENIX – (March 7, 2025) – CBRE has negotiated the $23.48 million sale of The Forum at Gilbert Ranch, a 97,000-square-foot, Class A office campus in Gilbert, Ariz., to a private high-net-worth 1031 investor.
CBRE’s Geoff Turbow, Anthony DeLorenzo, Matt Pourcho and Charlie von Arentschildt represented the private seller in the sale. The buyer was self-represented.
The Forum at Gilbert Ranch is situated on 6.56 acres at 1472, 1482, 1528, and 1530 East Williams Field Road and 2314 South Val Vista Drive in Gilbert. It includes one single-story building and four two-story buildings, with an average suite size of 4,500 square feet. The property features abundant on-site amenities and covered parking.
The campus was 96% leased at the time of sale with staggered rollover to a diverse roster of tenants spanning healthcare, real estate, and financial services. Since the beginning of 2020, CBRE's Jamie Swirtz has leased the property, maintaining high occupancy rates through effective asset management. Swirtz has overseen the signing of nineteen new leases or renewals.
“This transaction received strong interest and multiple offers given its high occupancy, prime location, proximity to walkable retail establishments, impressive underground parking garage and a sticky tenant roster. At 96% leased, this property will provide the buyer with stable cash flow,” said Turbow, senior vice president at CBRE. “We are seeing increased demand from private capital for suburban office properties. Office properties offer higher yields than other property types and significant tax savings with accelerated depreciation of the improvements.”
The property offers immediate access to Loop 202 and quick access to the Phoenix-Mesa Gateway Airport. Dignity Health’s Mercy Gilbert Medical Center is also nearby, with 2.2 million square feet of surrounding retail offerings, including San Tan Village.
According to research analyzed by CBRE, the Southeast Phoenix office market is a hub for top corporate and technology companies. Gilbert, in particular, has experienced a population increase of 36% in the past decade, making it one of Phoenix's fastest-growing markets.