Tempe – In a deal first reported by BREW in December 2012, The Hanover Co. in Houston, Tex. (J. Murry Bowden, CEO) has paid $7 million to buy a 2.76-acre parcel within the Centerpoint mixed-use project in Tempe that will allow the company to build 341 upscale multi-family units. The seller was Centerpoint Land LLC, a company formed by DMB Associates Inc. in Scottsdale (, pres.). As previously reported by BREW, The Hanover Co. agreed to buy the site contingent on zoning approval. Records show Mill Avenue Apartments LP (The Hanover Co. entity) paid cash for the land, which is located at the southwest corner of Maple Avenue and Fifth Street. The sale was brokered by Brent Moser, Mike Sutton and Brooks Griffith of Cassidy Turley in Phoenix. The parcel, which is now utilized as a public parking lot, is immediately northeast of the incredibly popular West Sixth towers multi-family rental units. Those 22- and 30-story structures have a combined 375 units in both buildings. Continue reading:
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