Search
 

Rimrock Goes for $18M

PHOENIX—CBRE negotiated the sale of the leasehold interest in Rimrock at ASU Research Park in Tempe. The two-building, 83,764-square-foot office complex located at 2030 and 2050 East ASU Circle in Tempe, Ariz. commanded a sale price of $18.4 million.

By Kristian Seemeyer | Updated on March 21, 2014

PHOENIX—CBRE negotiated the sale of the leasehold interest in Rimrock at ASU Research Park in Tempe. The two-building, 83,764-square-foot office complex located at 2030 and 2050 East ASU Circle in Tempe, Ariz. commanded a sale price of $18.4 million. The project was 93 percent leased at time of sale.

Bob Young, Steve Brabant, Glenn Smigiel and Rick Abraham with CBRE’s Phoenix office in conjuncture with Craig Coppola, Andrew Cheney, Bill Blake and Colton Trauter with Lee & Associates brokered the transaction on behalf of the seller, Rimrock Investors II of Phoenix. The buyer was Las Vegas-based W Tempe, LLC.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.