Northwood Investors to Acquire Discovery Business Campus
Northwood Press Release
New York, NY / June 22, 2011
Northwood Investors LLC (“Northwood”), a leading privately-held global real estate investment firm, is pleased to announce that it has acquired Freescale Semiconductor’s campus in Tempe, Arizona through a sale-leaseback transaction. Northwood acquired the property through a partnership with Wentworth Property Company, a Phoenix-based developer. The partnership rebranded the campus as Discovery Business Campus.
With 135 acres of land, the campus is the largest infill development site along Loop 101 in Tempe. The campus is comprised of five flex-office buildings containing 832,482 square feet of rentable area along with 44,000 square feet of infrastructure facilities and 51 acres of undeveloped land with zoning for office, retail, industrial and manufacturing uses. The campus offers convenient access to Loop 101 with a full diamond interchange adjacent to the property, providing direct access to Scottsdale, Chandler and Downtown Tempe.
John Kukral, President and CEO of Northwood Investors said, "We believe the acquisition of Discovery Business Campus will enhance our office portfolio and we are extremely excited about this transaction".
About Northwood Investors
Northwood Investors is a privately-held global real estate investment firm with over $2 billion of real estate assets. Founded in 2006 by John Z. Kukral, Northwood employs a fundamental, value-driven investment strategy with a longer-term outlook. Northwood has extensive experience investing in a wide range of real estate assets worldwide, including office buildings, shopping centers, hotels and residential investments, over multiple cycles and property types and geographies, providing the firm with a deep knowledge base, strong relationships, and unparalleled access to global real estate resources.
For further information on Northwood Investors or if you wish to contact us, please visit our website: www.northwoodinvestors.com or contact Vivian Tongalson, Managing Director, at (212) 573-0815 or firstname.lastname@example.org.