Magnolia Industrial Park LLC Acquires Industrial/Office Property In Tempe, AZ For $23.6M

A closed property transaction took place in Tempe, AZ, involving an industrial/office asset located at 1100 & 1150 W. Grove Parkway. The property spans a total area of 158,507 square feet and was sold for a price of $23,600,000, resulting in a per square foot price of $149.

Summary of transaction details

• Property Type: Industrial/Office
• Transaction Amount: $23,600,000
• Address: 1100 & 1150 W. Grove Parkway
• Market: Tempe, AZ
• Square Footage: 158,507

Magnolia Industrial Park LLC acquired the property from LACERA. The deal was facilitated by Chris Toci, Eric Wichterman, and Mike Coover from Cushman & Wakefield, who acted as brokers representing the buyer and seller in the transaction.