Phoenix Commercial Real Estate Deal Ranks Among Largest Ever
A 2 million square-foot real estate deal has just finalized near Tempe Town Lake. It's one of the largest commercial property transactions on record in metro Phoenix.
A partnership between Houston-based Transwestern Investment Group and Phoenix-based JDM Partners LLC acquired Marina Heights late last week. The property is a five-building office campus covering 20 acres in Tempe.
While price was not disclosed, the sale-leaseback deal was valued in one report at about $928 million. The acquisition is located between Arizona State University and Tempe Town Lake.