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Lee & Associates Negotiates Leasehold on Papago Arroyo for $40.85 Million

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PHOENIX, AZ – Lee & Associates Arizona is proud to announce the three-office building leasehold sale of Papago Arroyo, 1255, 1275 and 1295 E. Washington St., Phoenix for $40.85 million. Combined, the buildings total 279,503-square-feet which calculates to $146.15 per SF. The cap rate was reported to be 7% based on first year NOI performance. […]

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Papago Arroyo Office Complex in Tempe Sells for $40.85 Million

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TEMPE, AZ – CBRE has announced the sale of Papago Arroyo Office Complex, a three-building office complex in Tempe, Arizona. The 279,503-square-foot, two-story office buildings are located at 1255, 1275, and 1295 West Washington Street in the geographic heart of metropolitan Phoenix, and the highly desirable City of Tempe office market. The asset commanded a

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