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Series of Transactions at Fountainhead Corporate Park in Tempe
    
Phoenix Office

December 17, 2014

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.

Summary:

• 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.”

brewaz.com

1501 W Fountainhead PkwyTempe  AZ  85282

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