SOLD
Capstone Advisors Acquires Retail Properties In Tempe For $22.2M
420 & 501 South Mill Avenue
Retail
77,792 SF
77,792 SF
Sold 112 days ago
Summary
Sale
ARIZONA
Retail
77,792 sqft
The two fully occupied high-street retail properties located at 420 and 501 South Mill Avenue in Tempe have been sold for a total of $22,200,000. The transaction was finalized by JLL Capital Markets on behalf of buyer Capstone Advisors. The properties span a total area of 38,896 square feet, resulting in a price per square foot of $571. The sale aligns with the City of Tempe's $22 million streetscape improvement plan for Mill Avenue, which aims to enhance the visibility and attractiveness of the assets in the market.
Summary of transation details
- Property Type: Retail
- Sale Price: $22,200,000
- Square Footage: 38,896
- Price Per Square Foot: $571
The deal was facilitated by brokers Daniel Digerness, Frank Choumas, Patrick Dempsey, and Quin Madden from JLL. They represented Capstone Advisors in the transaction, showcasing their expertise and contribution to the successful sale of the properties.
Players
All
5
Agents
4
Agencies
1
Details
SOLD
IMAGE: Daniel Digerness, Frank Choumas, Patrick Dempsey & Quin Madden
DATE: 01/18/2024
ADDRESS: 420 & 501 South Mill Avenue
MARKET: Tempe, AZ
ASSET TYPE: Retail
BUYER: Capstone Advisors
BROKERS: Daniel Digerness, Frank Choumas, Patrick Dempsey & Quin Madden - JLL
SALE PRICE: $22,200,000
SF: 38,896 ~ PPSF: $571
NOTE: JLL Capital Markets finalized the $22.2 million sale and financing of two fully occupied high-street retail properties, 420 and 501 South Mill Avenue in Tempe. The transaction, representing a strategic move by buyer Capstone Advisors, aligns with the City of Tempe's $22 million streetscape improvement plan for Mill Avenue, enhancing the assets' market visibility.View on map
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Address420 & 501 South Mill Avenue
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