Seattle firm sees potential in Valley

The company that recently purchased the Gateway building in downtown Tempe says it's looking to make more investments in the Valley's depressed real-estate market. The $35 million purchase of the eight-story building at Mill Avenue and Third Street is the first acquisition by Vulcan Real Estate outside its home city of Seattle. Lori Mason Curran, a spokeswoman for Vulcan, said the company is interested in buying more property in the Phoenix area. "We see Phoenix as an area that has good growth prospects going forward," Curran said. "We see that it's poised for growth and a rebound, and we think it's a good time to get into the market." Vulcan, headed by Microsoft co-founder Paul Allen, is not alone in its interest in Valley real estate.

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