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TEMPE, ARIZ. — Faris Lee Investments has arranged the sale of Costco Plaza, a shadow-anchored Costco center located at the southeast corner of Elliot Road and Priest Drive in Tempe. A Southern California-based private investor sold the property to a Southern California-based developer for $27.8 million.
Costco Plaza features 237,000 square feet of retail space. Don MacLellan of Faris Lee Investments represented the seller in the transaction.