April 20, 2024 12:04 am
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Tempe Commerce Center sells for $11.4M; 301-unit apartment complex sold in Phoenix

AZRE Magazine

Cassidy Turley announced Friday that Presson Corporation acquired Tempe Commerce Center, a 177,848 SF multi-tenant industrial complex for $11.8M ($66.35 PSF). The seller was Tempe-based Kieckhefer Properties. Senior Managing Directors Bob Buckley, Steve Lindley and Tracy Cartledge with Cassidy Turley’s Capital Markets Group negotiated the sale transaction.

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Newmark Grubb Knight Frank completed the sale of the 301 unit Pine Ridge Apartments located at 2627 N. 45th Ave. in Phoenix.

Karl Abert, Managing Director with Newmark Grubb Knight Franks’ Phoenix office, represented the seller, Lili Rubin Investment Properties, LLC.

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