ALBERTA DEVELOPMENT PARTNERS BUYS 1.8 ACRES OF LAND IN TEMPE

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TEMPE, ARIZ. — Alberta Development Partners has acquired a 1.8-acre parcel of land in Tempe for $6.1 million. The land is located on the northwest corner of University Drive and Ash Avenue. Alberta plans to develop a mixed-use property that would include a popular grocer and a multifamily component. The buyer represented itself in this transaction, while the seller, Brookfield Asset Management, was represented by Barry Gabel and Chris Marchildon of CBRE’s Phoenix office, who worked in conjunction with CBRE’s National Loan Sale Advisory Group.

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