As part of the transaction, Birmingham, AL-based Compass Bank has signed a 20-year-lease for the structure. The lease will pay TGF more than $4.4 million.
Rick Murphy of the Phoenix office of CB Richard Ellis represented the buyers, TFG Partners LLC of Scottsdale in the building sale. Brian Kocour of the Phoenix office of Grubb & Ellis represented the sellers, Paradise Valley, AZ-based the David A. and Susan W. Goldberg Trust.
As for the lease, CBRE's Murphy was on hand to represent the landlord as well. Compass Bank called on Michael Lawley of Commercial Real Estate Advisors LLC of Birmingham to represent them in the lease negotiations. Compass will move into the building in September.
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