"They had been looking for an investment-grade asset for quite some time and nothing appealed to them before they found this building," says Mike Parker of Colliers International who represented the seller, Fiesta Tech I LLC, a Phoenix-based investment group. Parker's partners Paul Sieczkowski and Rob Martensen also were involved in the deal.

Parker tells GlobeSt.com that the buyer, 1325 N. Fiesta Blvd. LLC, "fell in love with the building" because it has stable, long-term tenants and curb appeal. The building is leased to Phoenix-based Banner Health Systems and Skaneateles, NY-based InData Systems for the rest of the decade, he says.

"It's a very attractive building that was built in 1997," Parker says. "The buyer came in very aggressively." The building had been on the market about 60 days and garnered a couple of other offers before the investment group stepped up. "The list price was $4.995 million," Parker says. "They really wanted the building."