CBRE Arranges $1.7 Million Sale of Retail Property in Tempe

TEMPE, ARIZ. — CBRE has arranged the $1.7 million sale of a 3,288-square-foot, freestanding retail property located at 111 W. University Drive in Tempe.

Andrew Fosberg, Max Bippus and Bert Kempfert of CBRE represented the seller, Ehrhardt Investment Properties LLC, in the transaction. Greg Saltz with GPS Retail LLC represented the buyer, SimonCRE Alpha LLC. Ehrhardt Bike Shop has occupied the property for 30 years.