Douglas Allred, Angelo Gordon team on $29M Tempe buy
Mike Sunnucks, Senior Reporter | Phoenix Business Journal
San Diego-based Douglas Allred Co. is partnering with two other firms to buy two Tempe office buildings for $29.3 million.
Allred, Phoenix’s DW Capital Partners and New York’s Angelo, Gordon & Co. have bought 1330 W. Southern Ave. and 3001 S. Priest Drive in Tempe.
The office and back-office centers total 250,000 square feet.
El Segundo, California-based Cordia Capital Management was the seller.
It was represented by Mike Beall, Chris Walker, Sean Spellman,Jeff Wentworth and Will Strong of Cushman & Wakefield.
Allred is based in San Diego but has had some significant real estate investments in Arizona. Private equity firm Angelo, Gordon has also invested in some Phoenix area real estate.
The new owners plan on renovating the Southern building.