The 3001 S. Priest Dr. building is a fully leased two-story structure built in 1995, with 100,000 square feet of office space and covered parking. The ground floor features a fully staffed cafeteria that serves the building's long-term tenant, Express Scripts.

1330 W. Southern Ave. is a three-story structure with 150,000 square feet of office space. One-third of the building is leased to iQor, a global customer and business process outsourcing company. The remainder of the building is available for lease, according to Robert Vincent, Cordia's asset manager.

Cordia Capital Management has been active in the Greater Phoenix area since the 1970s, most recently selling seven properties in the last two years.

“There's a lot of new institutional interest in Phoenix, which offers fresh liquidity to this market,” said Kalvoda. “We've been very successful in Phoenix and hope to reinvest our capital into new growth opportunities here. But, we're mobile. We like to go where the value is.”

TEMPE, AZ—In a deal sparked by high investor demand,a two-building office complex has been purchased by a partnership formed by Angelo, Gordon & Co., Douglas Allred Company and David Warren. The seller of the $29.3-million office property was Cordia Capital Management, a private real estate investment firm based in California.

“This sale is a timely portfolio trade for us,” said Katie Kalvoda, Cordia's chief investment officer. “Phoenix has become a bastion for investors chasing value. Overall, we have positioned ourselves to be net sellers in today's market.”

1330 W. Southern Ave. and 3001 S. Priest Dr. sit on more than 16 acres in the South Tempe office submarket and comprise a combined 250,000 square feet of office space. The buildings are located near Interstate 10 and US 60 freeways, close to shopping and restaurants, and a short drive from Phoenix Sky Harbor International Airport.

Kalvoda tells GlobeSt.com: “For the past 30 years, our Phoenix market knowledge has continually shown that strategic hands-on management increases values significantly and yields dramatic returns. The successful sale of this property not only reflects broad investor demand for commercial real estate in the Greater Phoenix area, but also Cordia's ability to understand the market and deliver product that meets its needs.”

The 3001 S. Priest Dr. building is a fully leased two-story structure built in 1995, with 100,000 square feet of office space and covered parking. The ground floor features a fully staffed cafeteria that serves the building's long-term tenant, Express Scripts.

1330 W. Southern Ave. is a three-story structure with 150,000 square feet of office space. One-third of the building is leased to iQor, a global customer and business process outsourcing company. The remainder of the building is available for lease, according to Robert Vincent, Cordia's asset manager.

Cordia Capital Management has been active in the Greater Phoenix area since the 1970s, most recently selling seven properties in the last two years.

“There's a lot of new institutional interest in Phoenix, which offers fresh liquidity to this market,” said Kalvoda. “We've been very successful in Phoenix and hope to reinvest our capital into new growth opportunities here. But, we're mobile. We like to go where the value is.”