{"id":1004174988,"date":"2017-05-04T01:45:29","date_gmt":"2017-05-04T09:45:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174988"},"modified":"2022-12-08T19:26:28","modified_gmt":"2022-12-09T03:26:28","slug":"nexus-asu-research-park-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nexus-asu-research-park-changes-hands\/","title":{"rendered":"Nexus at ASU Research Park Changes Hands"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004175161\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004175161\" data-attachment-id=\"1004175161\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nexus-asu-research-park-changes-hands\/nexus-at-asu-research-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Nexus @ ASU Research Park in Tempe, Arizona\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Nexus @ ASU Research Park in Tempe, Arizona&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg?w=640\" class=\"size-medium wp-image-1004175161\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg\" alt=\"Nexus @ ASU Research Park in Tempe, Arizona\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Nexus-at-ASU-Research-Park.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004175161\" class=\"wp-caption-text\">Nexus @ ASU Research Park in Tempe, Arizona<\/p><\/div>\n<p>JLL, through managing directors Mark Detmer, Bo Mills and Mark Gustin, and Vice President Ryan Sitov, recently represented a joint venture between ViaWest Group and Blue Vista Capital in the sale of Nexus @ ASU Research Park. <a href=\"https:\/\/www.commercialsearch.com\/news\/gramercy-nabs-half-billion-dollar-industrial-portfolio\/\">Gramercy Property Trust<\/a>, in partnership with TPG, acquired the two-story, 123,864-square-foot property in Tempe, Ariz., for $27.6 million.<\/p>\n<p>Constructed as a research and development facility\u00a0in 1998, the building\u00a0was purchased by ViaWest in 2013 for $3 million. The company invested several million dollars in a complete modernization program and transformed\u00a0the property for office use. At the time of the transaction,\u00a0the asset was fully leased by an online retailer.<\/p>\n<p><em>\u201cThis building\u2019s excellent location, extensive upgrades and investment-grade tenancy made this a sought after asset,\u201d<\/em> Detmer said in prepared remarks. <em>\u201cWe continue to see tech companies push demand for office buildings like this, and expect the trend to continue as large companies find value in Phoenix and the surrounding metro.\u201d<\/em><\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-story, 123,864-square-foot property in Tempe was constructed in 1998 as a research and development facility. ViaWest converted the building to office use a couple of years ago. <\/p>\n","protected":false},"author":753,"featured_media":1004175161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1601,15],"tags":[35103,33227,32796,35281],"class_list":["post-1004174988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-phoenix","category-west","tag-blue-vista-capital-management","tag-gramercy-property-trust","tag-jll","tag-viawest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nexus at ASU Research Park Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nexus-asu-research-park-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nexus at ASU Research Park Changes Hands\" \/>\n<meta property=\"og:description\" content=\"The two-story, 123,864-square-foot property in Tempe was constructed in 1998 as a research and development facility. 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