Maricopa County Community Colleges buys former Target office
Story Highlights
- Maricopa County Community Colleges District purchased Tempe headquarters for $27 million
- Widewaters sold former Target Financial Center after buying it for $20.5 million
- The property includes 188,960 square feet and 917 parking spaces
Maricopa County Community College District just plopped down $27 million in cash for Tempe office space that will serve as its new headquarters.
New York-based Widewaters sold the 25.29-acre property, which includes 188,960 square feet of office space, to the community college district after buying that property in August from Target Corp. for $20.5 million, according to Tempe-based real estate data firm Vizzda LLC.
Two office buildings at 8530-8550 S. Priest Drive previously served as the Target Financial Center. Target had invested $8 million into that property in 2019, but its staff never ended up moving back in after the pandemic hit.
Paul Borgesen, Dylan Sproul, Bill Zurek, Jim Achen Jr., and Royden Hudnall at Transwestern Real Estate Services represented Widewaters in the sale of that property that closed Nov. 5. Transwestern also had brokered Widewaters’ purchase of that property in August.