June 23, 2014


Condo at Riverside Office Plaza II sells for $2.8M

Cassidy Turley announced the sale of nine office condos at Riverside Office Plaza II totaling ±29,223 SF in the Tempe/Airport Submarket. Phoenix-based investor Attis Investments, LLC purchased the nine condos for $2.805 million ($95.98/psf) from San Diego-based Southwest Value Partners.

Executive Managing Director Jeff Wentworth and Vice President Sean Spellman with Cassidy Turley negotiated the transaction on behalf of the seller, while Mark Gustin of JLL represented the buyer.

Attis Investments is a commercial real estate investment company focused primarily on office and industrial properties in the Phoenix area. It plans to lease and build out the vacant office condos.

Built in 2007 at 1215 and 1255 West Rio Salado Parkway, Riverside Office Plaza II is a two building, two story development with 27 office condos totaling 75,500 square feet. The Riverside Office Plaza development is neighbors with the acclaimed Tempe Center for the Arts and overlooks the scenic Rio Salado area and Tempe Town Lake. The property is located east of the southeast corner of Priest Drive and Rio Salado Parkway with excellent access to the freeways, one mile from the Mill Avenue shops and restaurants and two miles from Sky Harbor International Airport. The project is currently 100% sold out.