**Widewaters Acquires 188K-SF Tempe Office Complex for $20.5 Million**
Transwestern Real Estate Services has arranged the $20.5 million sale of the Target Financing Center, a commercial property located at 8530-8550 S. Priest Drive in Tempe, Arizona. The transaction includes two office buildings totaling 188,960 square feet, as well as 12.64 acres of vacant land.
The acquisition was made by Widewaters, represented by Transwestern’s Paul Borgesen, Dylan Sproul, and Royden Hudnall. Bill Bayless of CBRE represented the seller, Target Corporation.
Constructed in 2003 and renovated in 2019, the property consists of two two-story buildings, each offering 94,480 square feet of space. It is well-equipped to serve as a corporate campus or a multi-tenant office environment.
Widewaters has retained the Transwestern team—now joined by William Zurek and Jim Achen Jr.—to market the property for sale or lease.
According to Transwestern research, the Tempe office market comprised 12.8 million square feet of office space at the end of Q2 2025, with a direct vacancy rate of 13.6%.
On a related note, leaders from across the commercial real estate industry—including executives from Ryan Companies, Lument, GSP, Zonda, Daniel Management Group, CSSI, PGIM, Transwestern, Regions Bank, and others—will convene at the upcoming Connect Texas Multifamily event. The conference will address trends in multifamily development and expansion across Texas, strategies to overcome construction and lease-up delays, and insights on what’s driving future growth.
**Event Details:**
– **Event:** Connect Texas Multifamily
– **Date:** Thursday, August 28
– **Venue:** The Joule, Dallas
For more information and registration, visit the Connect Texas Multifamily conference website.
