(South Pier at Tempe Town Lake)
By AZRE
3.32 acres of vacant land on the south side of Tempe Town Lake has been sold for $33.75 million, according to Vizzda. That equates to $10,165,663 per acre.
The transaction — which closed June 30 — was a related sale between two McBride Cohen Management Group entities.
The land deal paves the way for the development of South Pier at Tempe Town Lake. Earlier this year, the Tempe City Council voted unanimously to authorize South Pier at Tempe Town Lake, a $1.8 billion mixed-use development project on Tempe Town Lake with South Pier Tempe Holdings.
