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

DM BREW RLG logo

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories

City seeks developers for south Phoenix property

By Audrey Jensen | Phoenix Business Journal The city of Phoenix seeks developers for south Phoenix property. Phoenix is moving forward with a request for proposals for a city-owned, vacant lot on the south side of the city that has a long history.  The economic

Read More »