TEMPE-AZ-Centerpoint on Mill, a landmark forMill Avenue and the heart of downtown Tempe sinceits inception 28 years ago, has been sold byScottsdale, Ariz.-based DMB, Inc., to Mill AvenueRetail LLC, also of Scottsdale.

The 127,027 square-foot property brought$38.35 million.

Covering 22 acres starting at the northwestcorner of Mill Avenue and UniversityDrive in Tempe, Centerpoint on Mill was created through aunique public-private partnership with the City of Tempe. Theproperty was DMB's first large-scale mixed use development.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.