Business Real Estate Weekly by Rose Law Group
Tempe – W Tempe LLC, a company formed by Lisa Worthington in Las Vegas, Nev., paid $18.4 million ($219.66 per foot) to buy 83,764 sq. ft. of flex office space within the ASU Research Park in Tempe. The two buildings, which are on leased property, are located at 2030 and 2050 E. ASU Circle. The seller was Rimrock Investors II LLC, a company formed by Rimrock Partners LLC in Phoenix (Dean Riesen, Ron Moore, principals). The deal was brokered by Bob Young, Glenn Smigiel, Steve Brabant and Rick Abraham of CBRE in Phoenix. As part of the purchase, Worthington’s company assumed an 88-year ground lease on the 10+ acres underneath the buildings. That parcel is owned by the ASU Board of Regents. Continue reading
