**Maricopa Community Colleges Acquires 188,960-SF Office Complex in Tempe for $27M**
Maricopa Community Colleges has acquired a 188,960-square-foot office complex located at 8530-8550 S. Priest Drive in Tempe, Arizona, for $27 million. The seller was Widewaters.
The acquisition includes two buildings, each totaling 94,480 square feet, situated on a 25-acre site. Originally constructed in 2003 and renovated in 2019, the property also features a two-level parking garage and offers convenient access to Interstate 10 and Loop 202. The surrounding area includes a range of amenities such as restaurants, retail centers, hotels, and entertainment venues.
Maricopa Community Colleges plans to utilize the newly acquired space for administrative and executive offices. The buyer was represented by David Barrett of CBRE. Widewaters was represented in the transaction by Transwestern’s Paul Borgesen, Dylan Sproul, Bill Zurek, Jim Achen Jr., and Royden Hudnall.
Transwestern also brokered Widewaters’ original purchase of the site in August, which included 12.13 acres of developable land. Widewaters is currently planning development on the adjacent vacant land, with construction scheduled to begin in 2027.
The complex, formerly known as the Target Financial Center, marks a significant addition to Maricopa Community Colleges’ real estate assets and reflects continued activity in the Tempe office market.
