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EverWest Real Estate Investors and CarVal Investors have sold the Circuit, a 185,000-square-foot adaptive reuse project for $46 million. The property is located at Loop 101 and Loop 202 in Tempe, Arizona, and was sold to a subsidy of TPG Real Estate.

The sellers acquired the property in 2014, and over three years, invested $14 million to redevelop the asset into a creative office property. As a result, the property is 100% leased to a roster of credit tenants.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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