The two-story Corporate Center was sold by ING Clarion Partners of New York City. "There is a play to it," Tim Whittemore, a senior director with Cushman & Wakefield of Arizona Inc., says about the two-story office building at 10040 N. 25th Ave. "It offers near-term security with mid-term upside."

Whittemore says the Scottsdale-based International Capital Partners was among the highest of the 10 offers placed for the building. "ICP was attracted to the upside," says Whittemore, who teamed with C&W's Chris Toci, Brian Ackerman, Mike Sayre and Mike Beall to broker the sale. ING Clarion bought the 7.6-acre property, located near Interstate 17 and Peoria Avenue, from Opus West in the late 1990s.

The eight-year-old building, developed by locally based Opus West Corp., is 92% leased. Three credit tenants, with an average of four years left on their pacts, occupy 87% of the building, Whittemore tells GlobeSt.com. Hartford Fire Insurance is the lead tenant with 55,759 sf. Corinthian Colleges occupies 33,892 sf and Accredo Health Group leases 5,466 sf. The average rent is $20 per sf.