Vestis Group Brokers Multifamily Land Sale In Downtown Tempe Near ASU

FOR IMMEDIATE RELEASE – October 28, 2014

Vestis Group Brokers Multifamily Land Sale In Downtown Tempe Near ASU

(Phoenix – October 28, 2014) – Vestis Group is pleased to announce that brokers Natan Jacobs, Les Litwin and Victoria Miachika have completed the sale of 1.00 Acres of R-3 Zoned Tempe multifamily land, located just north of University Drive, approximately one mile west of Arizona State University in Downtown Tempe, Arizona for $835,000 / $19.17 Per Square Foot.

5th And Hardy LP, an award-winning Canadian multifamily developer, acquired the 1.00 acre parcel located on the northwest corner of 5th Street and Hardy Drive, in Downtown Tempe  for $835,000. The site enjoys a superior downtown Tempe location with direct access to all areas of the Phoenix Valley by way of the Red Mountain Freeway (Loop 202), the Pima Freeway (Loop 101), and the nearby Valley Metro Light Rail Transit System. In addition, there are numerous dining and entertainment options in close proximity to the property, including Tempe Marketplace, one of the most popular shopping centers in the Phoenix Metro with 1.3 million square feet of retail space. Significant employers in close proximity to the property include Arizona State University, General Dynamics, U.S. Airways, Amazon, Microsoft, and First Solar. The seller in the transaction was Alfred, Lynn and Pamela Brownd of Scottsdale, Arizona. The vacant single family home existing on the site is slated to be razed to make way for 20 contemporary urban townhomes.


About Vestis Group

Vestis Group is a leading Multifamily Investment sales and Advisory Services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies.

We specialize in Phoenix Apartments For Sale.

Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.

Vestis Group serves multifamily owners and investors with a full suite of commercial real estate services, including Buyer Representation, Tenant Representation, Project Marketing & Sales, Asset Management, Project & Development Services, Research and Consulting.

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