11,150-SF Retail Center in Tempe Goes For $855,000

TEMPE, AZ-A Phoenix-based real estate investor has the keys to the 11,150-sf Southern Tempe Shopping Center, spending $855,000 for the holding. Sun American Life Insurance had owned the property for a little more than a year before selling it.

By D.J. Burrough | June 11, 2001 at 01:01 AM

Seller Sun American Life Insurance Co. has owned the center, located at 2704-2730 W. Southern Ave., for just over a year. The project is west of the intersection of Interstate 10 and Superstition Freeway, two of the Valley's most active thoroughfares. Just north of the project is a sizeable parcel that is being built out as the Cotton Center, a fast-filling corporate park. The Phoenix office of Marcus & Millichap, with brokers Cheryl Lennon and David Illsley, has negotiated the transaction.

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