El Segundo, CA – Real estate investment firm Westport Capital Partners LLC announced that it has closed on the purchase of Agave Center (top left photo) in Tempe, AZ.
The acquisition includes five buildings of mixed-use property totaling 220,000 square feet. The portfolio includes three single-story office buildings, one 2-story office building, a flex industrial building, and 4.6 acres of land ready for development.
“Westport continues to add attractive, functional assets to our national portfolio that are in strong performing markets,” said Sean Armstrong (lower right photo), principal and portfolio manager with Westport. “This is our fourth investment in the Phoenix area, which continues to be a highly attractive market for owners and companies seeking a business-friendly environment.”
Agave Center is located on a 27-acre parcel near Warner Road and Interstate 10 in Tempe. The property is 76% leased and Westport Capital Partners is already working to accommodate the expansion needs of tenants. Westport plans to reinvigorate the leasing effort for Agave, similar to its successful strategy for its prior investments in Phoenix.
Dennis Desmond and Brian Ackerman of Jones Lang LaSalle represented both the seller and buyer in the acquisition.
Contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
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