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June 22, 2024
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AZ Flex Property Gets New Owner in $11 Mil Deal


A 56.2k sf, flex office property in Tempe, AZ was purchased for $11 mil ($195/sf) by RSE Capital Partners LLC. Located at 8123 South Hardy Dr, the single-story building will soon be fully vacant following the departure of its single tenant.

The property is located within a few blocks of Interstate 10 and in close proximity to the Sky Harbor International Airport. There are also an abundance of retail, shopping, dining, and entertainment amenities within walking distance of the property, including the Tempe Sports Complex and Arizona Cardinals practice facility across the street. Arizona State University and downtown Tempe are also a short drive.

The seller was 7172 South Airport Road LLC. Cushman & Wakefield’s Eric Wichterman, Mike Coover, Brad Anderson, and Mike Strittmatter brokered the transaction.

“The building’s large floor plate, 29-foot clear height, expansive 7:1,000 parking ratio and excellent freeway accessibility create a prime opportunity whether it be for use as a flex office building or a conversion to industrial,” said Wichterman.

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