TEMPE, AZ-Wentworth Property Co. has acquired an industrial and office development totaling 876,000 square feet near Elliot Road and Loop 101 in Tempe for $53.7 million from Austin-based Freescale Semiconductor Inc. The developer is partnering with New York-based Northwood Investors on the acquisition.
Freescale will lease back the space it currently occupies at the development. The 135-acre property also includes a two-story 166,000-square-foot building, a 66,000-square-foot fabrication structure and 50 acres of empty land. Cushman & Wakefield handled the deal. For the full story, go to Phoenix Business Journal .
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