ViaWest Group is pleased to announce a new
addition to its expanding portfolio, with the recent successful acquisition of the 49,464 SF multitenant
office building located at 7855 S. River Parkway, Tempe, Ariz. in the desirable ASU
ConneXion (previously referred to as Transamerica Research Center) is one of
the only multi-tenant buildings located in ASURP. Phoenix-based ViaWest Group paid
$5.25M on the acquisition. This is the second acquisition in ViaWest’s portfolio that is
located in ASURP. The seller was Cedar Rapids, Iowa-based AEGON USA, represented by
Glenn Smigiel, Bob Young, Steve Brabant and Rick Abraham with CBRE’s Phoenix office,
along with Andrew Cheney and Craig Coppola with Lee & Associates.
“We are excited to purchase the Connexion building considering it is the only true multi-tenant
building in ASU Research Park. It has great proximity to the 101, enjoyable lakefront views,
and is a great complement to our 120K sf large-user building presently under renovation in the
Park. With these two assets, we have space available in one of the most desirable parks in the
metro area for tenants ranging from 1,000 to 120,000 s.f.”, says Steven Schwarz, Founding
Principal at ViaWest Group.
“ConneXion is a unique investment that allowed the buyer to acquire a well-located,
stable asset at a price that is substantially below replacement cost,” said CBRE’s Smigiel.
“Additionally, ASU Research Park’s position as a premier tech-hub in metro Phoenix ensures the
property will continue to attract tenants going forward.”
ConneXion is located within ASU Research Park and the property benefits from being one of the
only multi-tenant buildings within the 320-acre park. The building offers smaller tenants the rare
opportunity to cluster with larger regional/corporate HQ tenants which make up the bulk of the
tenancy for ASU Research Park.