Maricopa Community Colleges has purchased a 188,960 square foot office complex at 8530-8550 S. Priest Drive in Tempe for $27 million. Widewaters was the seller.
Transwestern’s Paul Borgesen, Dylan Sproul, Bill Zurek, Jim Achen Jr., and Royden Hudnall represented Widewaters. Maricopa Community Colleges, which will use the buildings for administrative and executive offices, was represented by David Barrett from CBRE.Â
In August, Transwestern brokered Widewaters’ purchase of the property, which included 12.13 acres of developable land. Widewaters is currently developing a plan for adjacent vacant land and plans to commence construction in 2027.
Formerly known as the Target Financial Center, the buildings were built in 2003 and renovated in 2019. Each of the two buildings consist of 94,480 square feet of space. The 25-acre lot also has a two-level parking garage. The property offers direct access to Interstate 10 and Loop 202, and nearby amenities include restaurants, retail, hotels, and entertainment.Â
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