April 26, 2024 4:54 pm
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Bob Parsons affiliate buys Cornerstone shopping center

Cornerstone shopping center
Cornerstone shopping center

AZRE

ORION Investment Real Estate announced Tuesday the sale of The Cornerstone shopping center in Tempe, Ariz., located on the NEC of Rural Road and University Drive adjacent to Arizona State University. The 117,351-square-foot center sold for $28,556,152 to Cornerstone Retail, L.L.C., a commercial real estate entity affiliated with YAM Properties which was founded by Valley businessman Bob Parsons.

The transaction was negotiated by Ari Spiro, Sean Stutzman and Andrew Harrison of ORION Investment Real Estate based in Scottsdale.

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