TEMPE, ARIZ. — A 12-story office tower in Tempe has traded hands for $92.5 million. The 299,540-square-foot, Class A tower is located within Hayden Ferry Lakeside, a 43-acre mixed-use development of office, commercial, retail and residential space.
SunCor Development Co. has sold the building to HF Lakeside II LLC, a subsidiary of Sumitomo Corporation of America.
“SunCor has done a superb job attracting blue-chip companies to this mixed-use development,” said Robert Obringer, vice president of HF Lakeside II LLC. “This waterfront property and the overall vision for Hayden Ferry Lakeside are extremely impressive and the quality architecture, construction and central location are what drove us to be a buyer,” he said.
The property is currently 83 percent leased to tenants such as KPMG, MetLife, and Fidelity National Title Insurance.
“Hayden Ferry Lakeside is well on its way to achieving the ultimate vision created by SunCor,” said Randy Levin, vice president of commercial/urban development and design for SunCor. “Vibrant commercial and residential aspects of the development are flourishing. Clearly, the central live-work-play theme of Hayden Ferry Lakeside is striking a chord in this market,” Levin said.
The sale transaction was negotiated by executive director Chris Toci and director Ted Harrison of Cushman & Wakefield of Arizona, in cooperation with R. Craig Coppola, Mark Seale, Chris Krewson and Andrew Cheney of Lee & Associates, Arizona.