Arizona-based Rowland Cos., a prominent homebuilder, purchased the 21,064-sf building. The company plans to relocate its corporate headquarters from Phoenix to the Sonoran Desert structure in mid-August, Jeff Wentworth of the Phoenix office of Grubb & Ellis Co. tells GlobeSt.com.

The Sonoran Corporate Center totals about 74,000 sf. It is a project of Colorado-based RFG Management, who uses Wentworth to broker all of its building sales for the Sonoran Corporate Center. The park was completed in February, with the specific intent to sell all the buildings to users.

There were two 21,000-plus-sf office designs. The other one is under contract and set to close in July, Wentworth confides. The balance of the complex contains office designs of 6,800 sf, 8,900 sf and 10,000 sf. Asking prices range from $196 per sf to $202 per sf, with the smaller buildings hitting the high end of the range. The Rowland building sold for about $190 per sf. A $25 per sf tenant improvement allowance also is being credited at closing.

Wentworth says lobbies and restrooms are completely finished while office space is in shell form. The development is located in the 260-acre Perimeter Center, a high-end light industrial and office park in the Sonoran Desert.

Wentworth explains Perimeter Center is closely controlled by deed restrictions. Thus, it primarily attracts labs and production studios for industrial designs while the remainder of the park is geared toward high-end office buildings.

Instant Insights /

First of Six Sonoran Corporate Center Sales Yields $4M

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