SimonCRE buys Tempe building, outfitting for Blaze Pizza

(NEWS RELEASE)

Scottsdale-based Simon Commercial Real Estate has bought a freestanding retail building near Arizona State University’s Tempe campus and will retrofit the property for a Blaze Pizza restaurant.

The Pasadena-based fast casual pizza chain counts LeBron James and Maria Shriver as investors.

SimonCRE bought the downtown Tempe building near University Drive and Mill Avenue for $1.83 million from Go Wireless Investments LLC.

The property at 105 W. University Drive totals 3,330 square feet. The property at one point housed a Zia Records outlet store.

Greg Saltz of GPS Retail Advisors and Brian Gast of Velocity Retail brokered the sale.

SimonCRE executives say Blaze Pizza will open in the spring. Brian Gausden & David Uhles of Western Retail Advisors were the tenant brokers in the deal.

The Pasadena-based Blaze Fast Fire’d Pizza concept part of the fast casual pizza segment and has been eyeing the Arizona market.

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November 17, 2015

commercial real estate, real estate, Tempe

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