Series of Transactions at Fountainhead Corporate Park in Tempe
Through a series of transactions, new owners are now in possession of 476,172 square feet of office space at Fountainhead Corporate Park, S/SWC Priest Dr & Broadway Rd in Tempe.
• In a joint venture, Cypress Office Properties and Harbert Management Corp. purchased five buildings totaling 476,172 square feet of office space from Principal Financial Group Inc. for $71.5M.
• Cypress Office Properties and Harbert Management then sold 189,262 square feet of the newly acquired space to Allegis Group Inc. for $35M.
According to BREW, CBRE will continue to manage the properties while the leasing assignment “has yet to be awarded.”
1501 W Fountainhead Pkwy, Tempe AZ 85282