Dec
11

Transwestern, JDM Partners Buy 2 MSF Tempe Office

By
The partnership acquired the five-building Marina Heights campus from State Farm Automobile Insurance Co. in a sale-leaseback deal valued at $928 million, which could mark the largest-ever CRE sale in metro Phoenix.

A partnership between Transwestern Investment Group and JDM Partners LLC, called Corporate Properties Trust III LP, has completed its acquisition of a five-building, 2-million-square-foot Class A office campus in Tempe, Ariz., in a sale-leaseback with State Farm Automobile Insurance Co.

Financials on the deal were not disclosed, but a Phoenix-area outlet reported the deal as valued at $928 million, a big enough sum to make it the largest-ever CRE sale in metro Phoenix…

Transwestern, JDM Partners Buy 2 MSF Tempe Office

Share

Leave a Reply

You must be logged in to post a comment.