Menlo Group Completes Sale of Tempe Office Complex
Two buildings, located at 850 & 858 W. Elliot Rd. in Tempe, Ariz., sold for $4.3 million.
Tempe, AZ, June 23, 2021–Menlo Group Commercial Real Estate is pleased to announce the recent sale of 850 & 858 W. Elliot Rd. in Tempe, Ariz. The two-building office complex sold for $4.3 million.
22 Kendrick, LLC, purchased the property from 1250 Bayshore Highway, LLC. The sellers have owned the 25,000 sq. ft. office complex since 2018.
Menlo Group Senior Vice President Steve Berghoff, CCIM, SIOR, represented 1250 Bayshore Highway, LLC, in both the 2018 purchase transaction and the recent property sale. During the interim, he also worked to maintain occupancy at the complex to make it an attractive investment opportunity. Berghoff will continue to serve as the leasing agent under the new ownership.
“I have enjoyed working with the sellers over the years,” Berghoff said. “This property is beautiful, and it will serve as a great headquarters for the new owners.”
About Menlo Group
Menlo Group Commercial Real Estate is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services, real estate consulting, property management and project management. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Please contact our landlord/seller team if you are looking to list your property.