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Target

Target Sells Off 188K-SF Tempe Offices

Target employees vacated their Tempe offices over five years ago, a common response to issues related to the pandemic. The Phoenix Business Journal reports the company has now sold its former office complex at 8530 South Priest Drive for $20.5 million.

The 188,960-square-foot office center includes two two-story office buildings built in 2000. The site is 25.29 acres total and includes 12.64 acres of adjacent vacant land, which was included in the sale.

Paul Borgesen, Dylan Sproul and Royden Hudnall with Transwestern represented the buyer, Widewaters, and CBRE’s Bill Bayless represented the seller.

In 2019, Target invested $8 million in renovating the office complex, but as mentioned, its staff never moved back.

The buyer plans to bring in a new office user and is working on a development plan for the vacant land, .

Read More News Stories About: CBRE, Transwestern
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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
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