Well Fargo sold its office building near Broadway Road and Roosevelt Street in Tempe for $6.25 million to Evergreen Devco.
The bank secured a short-term lease to continue occupancy of the 75,000-square-foot building. Senior Directors Don T. Rodie and Jim Crews of Cushman & Wakefield negotiated the sale and lease on behalf of Wells Fargo.
Tivon Moffitt of Colliers International represented an affiliate of Phoenix-based Evergreen Devco in its purchase of the property.
The property is fully occupied by Wells Fargo.
“Wells Fargo has signed a short-term lease to continue use of the property, but the new owner has plans to redevelop the property as part of its long-term hold strategy,”Rodie said. “At this point, Evergreen Devco has not determined what specifically will be developed on the site.”
