Search
 

Tempe Office Sells to RREEF Managed Fund for $11.6 Mil

PHOENIX-Marking the seventh purchase the company has made in a Tempe office park, a pension fund managed by RREEF has purchased a 98,000-sf office building.

By D.J. Burrough | Updated on January 04, 2001

PHOENIX-A San Francisco investment company has purchased a 98,000-sf office building in Tempe for $11.6 million. A pension fund managed by RREEF Funds, a San Francisco-based real estate investment company, purchased the office building at 7333 S. Hardy Dr. in Tempe for $11.6 million. The building is one of seven office and warehouse buildings that RREEF now owns in the Tempe Commerce Park, a business park at the southwest corner of Kyrene and Elliot roads.

Tempe is one of the few landlocked suburbs in the Valley; Phoenix, Chandler, Mesa and Scottsdale border it. As the city has edged closer to build-out and available land has become increasingly scarce, commercial properties have become more valuable.

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.