Gramercy Property Trust, TPG Buy Nexus at ASU Research Park in Tempe for $27.6M

TEMPE, ARIZ. — A partnership between Gramercy Property Trust and TPG has acquired Nexus at ASU Research Park, a 123,864-square-foot office building in Phoenix, for $27.6 million. The Class A building is situated just off Loop 101 in the ASU Research Park.

The building is fully leased to an online retailer. Amenities at the park include a day care center, six miles of jogging and bike trails, lakes, a helipad and security patrol.

JLL’s Mark Detmer, Bo Mills, Mark Gustin and Ryan Sitov executed the sale. The seller was a joint venture between ViaWest Group and Blue Vista Capital.