Cushman & Wakefield announce that Phoenix-based Wentworth Property Company (“WPC”) purchased a ±42,281 square foot industrial property at 2077 E. University Drive in Tempe, AZ for $3.6 million. The seller was Essex Scot, LLC of Riverside, CA.
Andy Markham, SIOR, Mike Haenel, Will Strong and Phil Haenel of Cushman & Wakefield negotiated the sale transaction on behalf of the buyers, WPC. Dave Johnson and Jerry Marrell with Lee & Associates represented the sellers.
Located one-half mile south of Loop 101 on University Drive, the property includes ±16,184 square feet of office and showroom space and ±26,097 square feet of warehouse space with two truckwell doors. Built in 1997, the property sits on 2.69 acres and includes parking for 79 cars.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
