“The buyer was very interested in purchasing a premier building in this market because they own their corporate headquarters in California,” says Greg Hopley, executive vice president of Colliers International in Greater Phoenix. “This is an excellent acquisition for their future use and expansion in the Arizona market.”
Hopley negotiated the office building transaction. Faith Ventures, LLC sold the property to Western Mutual Insurance.
Built in 2005, the office building is located within McCormick Ranch. The two-story Mediterranean style building contains approximately 8,657 square feet of space and was renovated in 2012. Situated north of Via de Ventura and west of Pima Road, the property offers convenient access to the Loop 101 freeway. The building offers excellent signage visibility to Via de Ventura and desirable ease of ingress and egress. The lushly landscaped property offers secure parking and close proximity to an abundance of amenities. Parks, restaurants, shopping and hotels are all located within five minutes of the building.
Western Mutual Insurance plans to take occupancy of a portion of the building when its current lease expires. The company will expand into the remainder of the building as its business grows.