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, .
The post Target Sells Off 188K-SF Tempe Offices appeared first on Connect CRE.
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