Tempe Office/Flex Business Park Trades for $10.2 Million in Investment Deal

PHOENIX - July 19, 2017 - PRLog -- DeMuro Corporate Square, a 7-building business park totaling 88,837 SF at 1505-1575 W. University Dr., Tempe, has sold to a California investment entity for $10,200,000. Occupancy was reported to be 92%. The transaction closed on June 30.

Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead, and Greg Guglielmino represented the seller, University Corporate Square Associates, Santa Rosa, CA. The buyer was Tempe Creative Campus, LLC, Carlsbad, CA.

Built in 1985, the seven-building business park contains buildings of just over 7,000 SF to 17,000 SF. The business park features I-1 light industrial zoning and 319 parking spaces. The outstanding location is just three miles east of Phoenix Sky Harbor International Airport and several blocks from Downtown Tempe and the main campus of Arizona State University.

For more information:

STEVE GONZALEZ | PRINCIPAL
602.474.9588; sgonzalez@leearizona.com

GREG GUGLIELMINO | PRINCIPAL
602.474.9590; gguglielmino@leearizona.com

MARCUS MUIRHEAD | PRINCIPAL
602.474.9589; mmuirhead@leearizona.com

About Us:

Now in our 26th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state. Each of our North American Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

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