Maricopa Community Colleges Acquires Office Property In Tempe From Widewaters For $27M
8530 South Priest Drive & 8550 South Priest Drive
$27,000,000
$71/SF
Building Size
188,960 SF
Asset Type
Office
Closing
Nov 7, 2025
About this deal
AI
An office property located at 8530 South Priest Drive & 8550 South Priest Drive in Tempe, AZ, was sold for $27,000,000. The asset spans a total of 188,960 square feet, equating to a price per square foot of approximately $143.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,000,000
- Buyer: Maricopa Community Colleges
- Seller: Widewaters
- Buyer’s Representative: CBRE
- Seller’s Representative: Transwestern
- Square Footage: 188,960
- Price per Square Foot: $143
Maricopa Community Colleges plans to utilize the purchased property for administrative and executive offices. Widewaters, the seller, retains a separate 12.13-acre site intended for future development. The transaction was facilitated with CBRE representing the buyer and Transwestern representing the seller.
On the Map
$27,000,000
$71/SF
Office
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93