Overall, the property was 87% leased at time of sale while office space was 100% leased.Tempe continues to be one of the most active markets in the metro area with the sale of Centerpoint on Mill coming just months after the announcement of other major downtown Tempe development projects.
“This is an excellent investment opportunity in a thriving submarket.” Covering 22 acres starting at the northwest corner Centerpoint on Mill Acquired by Developer with Big Plans for Downtown Tempe Article originally posted on Phoenix Business Journal on December 20, 2019 Two real estate development companies have partnered to buy a major Tempe mixed-use project for $60 million. Select a Theatre. In order to display showtimes, please select a nearby theatre. Centerpoint on Mill represents one of the most significant redevelopment efforts in the history of the downtown area of Tempe and was a catalyst in bringing entertainment, national office and retail users to Mill Avenue.
The Class B Office building was completed in 1997 and features a total of 51,035 Sqft. Hours including holiday hours and Black Friday information. Chang’s China Bistro, Pita Pit, Poppa Maize, Rita’s Italian Ice, Robbie Fox’s Public House and Sitewire. USA Place, the future home of the USA Basketball headquarters, will be located on the southeast corner of Mill and University near Centerpoint on Mill.
These tenants will soon be joined by AMC Theatres, Zipps Sports Grill, El Hefe, Hot N Juicy Crawfish, Lincoln Strategy Group and One Energy.Your email address will not be published. DMB’s work as placemakers, developing a downtown core featuring high quality national and local retailers, unique dining, art, theater, and residential, has helped brand Tempe as a destination for tourists and locals,” said Tempe Mayor Mark Mitchell.The sale also includes parking rights to approximately 720 parking spaces.“One of DMB’s founding principles is based on the partnerships and the relationships built with municipalities, landowners, neighbors and tenants,” said Michael Burke, Vice President of Development for DMB. Legal. Order Online Tickets Tickets See Availability Directions {{::location.tagLine.value.text}} Sponsored Topics. DMB proudly partnered with the City of Tempe in the pursuit of creating and maintaining a vibrant and dynamic downtown area in and around Mill Avenue.”Covering 22 acres starting at the northwest corner of Mill Avenue and University Drive in Tempe, Centerpoint on Mill was created through a unique public-private partnership with the City of Tempe.
Menu & Reservations Make Reservations . Centerpoint on Mill, Tempe, AZ 85281 - Office Space for rent. Restaurants near AMC Centerpoint 11, Tempe on Tripadvisor: Find traveler reviews and candid photos of dining near AMC Centerpoint 11 in Tempe, Arizona. Help Get directions, reviews and information for Centerpoint on Mill … Don't forget to write a review about your visit at P.F. In Hughes Acres, there are 7 class B office buildings. The 127,027 square-foot commercial property commanded a sale price of $38.35 million.Centerpoint on Mill represents one of the most significant redevelopment efforts in the history of the downtown area of Tempe and was a catalyst in bringing entertainment, national office and retail users to Mill Avenue. Argosy Real Estate Partners Acquires CenterPoint on Mill. The largest space available has 3,650 Sqft and a rental rate of $27.5/Sqft/Year.There are 67 office spaces for lease in the Hughes Acres neighborhood, totaling 545,977 Sqft of available office space. For Class A office buildings the average office rate is $36.9/sqft/year, for Class B office buildings the average office rate is $25.76/sqft/year.There is currently 1 office space in this building.Centerpoint on Mill totals 51,035 square feet.The monthly lease rate for the largest space available at Centerpoint on Mill is $27.5/Sqft/Year per square foot.Currently, the largest rentable space at Centerpoint on Mill totals 3,650 square feet. The average asking office rent per sq. Required fields are marked with *“Over the past 28 years, the City of Tempe and DMB have worked together to create a point of pride for the Valley, a truly urban destination that models the live, work, play ideal. Centerpoint on Mill, a landmark for Mill Avenue and the heart of downtown Tempe since its inception 28 years ago, has been sold by Scottsdale, Ariz.-based DMB, Inc., to Mill Avenue Retail LLC of Scottsdale. Centerpoint on Mill 640 S Mill Ave #740 Tempe AZ 85281. There is 1 Office space available for lease at 740 South Mill Avenue, Tempe, AZ, 85281, totaling 3,650 Sqft. The property was DMB’s first large-scale mixed use development.“The sale of Centerpoint on Mill is an indicator of the health of the Tempe market and the continued strengthening of the Phoenix-metro area in general,” said Smigiel. ft. in Hughes Acres is $31.95/sqft/year. Centerpoint on Mill, a landmark for Mill Avenue and the heart of downtown Tempe since its inception 28 years ago, has been sold by Scottsdale, Ariz.-based DMB, Inc., to Mill Avenue Retail LLC of Scottsdale. At zip code level, there are 129 commercial properties, of which 81 are office buildings over 50,000 square feet.Centerpoint on Mill was built in 1997.Centerpoint on Mill is located at 740 South Mill Avenue in the Hughes Acres neighborhood, AZ, Tempe, 85281.
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