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TEMPE, ARIZ. — Evergreen Devco has acquired 12.7 acres of land at the southeast corner of 48th Street and Alameda Drive in Tempe for $13 million. The company plans to develop 48th @ Alameda, an industrial project, on the site.
The acquired parcel includes two sites:
- 2727 South 48th Street — currently housing a vacant, two-story office building, which will be redeveloped to construct two speculative industrial buildings totaling 171,025 square feet and an adjacent outdoor storage area.
- 2530 W. Campus Drive — currently an auxiliary parking lot that will be converted into 65,578 square feet of industrial outdoor storage space.
Jim Wilson of Cushman & Wakefield will list the project for sale or lease.