Thursday, October 8, 2015

Tempe Marketplace Sells for $367 Million

Area Map (Highlighted area conveyed in sale)

Rockwood Capital and Vestar sold Tempe Marketplace Tuesday to a joint venture between Vestar and AEW Capital. The $367 million sale is essentially a buyout of Rockwood Capital's ownership interest, pursuant to purchase and sale agreement dated May 8th 2015. A $184 million loan with Pacific Life Insurance Company funded the transaction.

Tempe Marketplace consists of over a million square feet of retail space built in 2007 and 2008 on 101 acres at the northeast corner of McClintock Drive and Rio Salado Parkway. Portions of the mall are ground leased with City of Tempe. Spaces leased by Target and Portillo's did not convey with this sale.

For more information on this property including complete history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!


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