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Kidder Mathews Handles Tempe Office Center Deal

Tempe Office Center, a two-building, 24,381-square-foot business park located at 950 W. Southern Ave. and 3225 S. Hardy Dr. in Tempe sold for nearly $4.6 million. Unnamed investors from Northern California and Washington State claimed the assets. The seller was an undisclosed investment group from Southern California.

The seller condo-mapped the property before the sale, giving the owners the flexibility to divest the two buildings individually if they choose to in the future.

Kidder Mathews’ Erik Marsh, who represented the seller, says, “With good existing tenants and the potential to lease the available space, the buyer should do well with this investment. During the COVID-19 pandemic, we’ve seen many investors coming to Arizona from California and the Pacific Northwest.”

Tempe Office Center is 77% occupied. Concentra Urgent Care, which occupies roughly 41%, has been a tenant since the mid-90s, and recently extended its lease for an additional 13 years.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition