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TEMPE, ARIZ. — Vancouver, Canada-based Nicola Wealth Real Estate has acquired a mixed-use property located in downtown Tempe from Wexford Developments for $16.7 million.
Located at 425 S. Mill Ave., the 22,209-square-foot building features three levels of office space above ground-floor retail space. At the time of sale, the property was 100 percent leased to multiple tenants. The property is near the Valley Metro Light Rail station and the new Tempe Streetcar, which is scheduled to open this year.
Steve Lindley, Eric Wichterman and Mike Coover of Cushman & Wakefield handled the transaction.