Castle & Cooke Inc. sold a mixed-use office/retail complex in Tempe, Arizona for nearly $4.1 million to a joint venture between Via West Properties LLC and Southwest Value Partners according to a Phoenix Business Journal article. Cushman & Wakefied of Arizona Inc. represented both sides in the transaction.
The three-building complex at Kyrene and Elliot roads includes 96,600 square feet of office space, currently vacant, and 15,360 square feet of retail space, now 55% occupied with tenants including FedEx Kinko's and Edward Jones Investments. "We are very excited about the ability to acquire such a high quality and functional asset at a basis that enables us to be very aggressive in our leasing efforts," said Via West Managing Partner Steven Schwarz.
For more news and information visit Blumberg Capital Partners.
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