April 19, 2024 12:38 pm
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Investor spends $18.4 million for flex buildings at ASU Research Park

ASU Research Park

Business Real Estate Weekly by Rose Law Group

ASU Research ParkTempe – 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

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.