Insurance Company Buys 10,294-SF Office Condo

MESA, AZ-In its bid to break into the market, Royal Neighbors of America of Rock Island, IL has bought a 10,294-sf building in Pierpont Business Court for its regional office. The office condo cost $2.2 million.

Royal Neighbors bought Building 2 in the 59,754-sf, four-building complex at 4824 E. Baseline Rd. The company acquired the office condo from Phoenix engineer Jose Luis Montoya, who was represented by Laurel Lewis, a vice president with Grubb & Ellis BRE/Commercial LLC in Phoenix.

Lewis says Montoya owned three buildings, totaling 30,000 sf, in the complex. She tells GlobeSt.com that downsizing due to a slow economy forced the engineer to sell the one-year-old building and put another one on the market. She’s not certain what Montoya plans for the third structure.