TEMPE, ARIZONA – 2166 East University Drive, a 21,179 square food two-story flex/warehouse building in Tempe, sold this week for $2,400,000 or $113 per square foot. Nick Miner, CCIM of ORION Investment Real Estate represented the Buyer in the transaction, Fox Headquarters, LLC (Fox Cigar Bar), whom plan to utilize this space as their headquarters after $2,000,000 in renovations. They’ll be opening their corporate headquarters as well as a small cigar bar and high-end barrel liquor store at this location. The Seller, 101 Tempe, LLC, was represented by Ken McQueen at Lee & Associates.
2166 East University Drive is located just off of the Loop-101 in Tempe, Arizona. Superbly situated in proximity to 200+ retailers and 225+ restaurants, 2166 East University Drive is just a few minutes from Tempe Marketplace. The site also benefits from being just an 11 minute drive to the 9th busiest airport in the United States, Phoenix Sky Harbor Airport, which sees more than 120,000 passengers per day. The property is also near the newly expanded Phoenix Metro Light Rail.
Nick Miner, CCIM commented on the transaction, “This was a great opportunity for my client. The location right off the Loop 101 in Tempe as well as frontage on University were some of the driving forces that worked well for my client. My client is excited to have Tempe become his Corporate HQ.”
Cigar bar to open corporate headquarters in Tempe – Phoenix Business Journal