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Miller Global, Opus West Stick to $35M Plan

SCOTTSDALE, AZ-Miller Global purchases North Scottsdale Corporate Center II for $35.18 million as part of a pact in early 2006 when it bought the twin.

By John McCloud | Updated on December 27, 2007

SCOTTSDALE, AZ-Three months after selling the fully leased North Scottsdale Corporate Center I, Denver-based Miller Global Properties LLC has turned around and purchased the newly completed North Scottsdale Corporate Center II for $35.18 million. The 152,473-sf, class A office building was developed by Phoenix-based Opus West Corp.

The sale of 6811 E. Mayo Blvd. was brokered by Jim Fijan and Jerry Roberts, executive vice presidents at CB Richard Ellis in Phoenix. According to Roberts, the deal was an extension of negotiations initiated at the time Miller Global, a partnership of Miller Properties Group and Global Holdings Inc., purchased North Scottsdale Corporate Center I in early 2006. In late September, Miller Global sold Corporate Center I to Boston-based AEW Capital Management LP for $53 million.

“There was a lot of competition for the first phase of the project, but there was none for this because they rolled right into negotiations for the second building,” Roberts says.

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