Blaine A. Black of the Phoenix office for Dallas-based Trammell Crow Co. tells GlobeSt.com that the project was intended to be a merchant build. He says the building is still in shell form, waiting for the new owner to finish it out.

The buyer formed a limited liability company, 8322 Hartford Drive Associates, to close the sale. But, Black confirms, it is a vitamin and supplement company that intends to use the building for administrative, sales and corporate offices.

In turn, the buyer has leased its 50,000-sf building at 1920 E. Broadway in Phoenix. Black says the company needed less space since its move to market and sell over the Internet. "This is a classic example of a company that wanted to take advantage of the equity they had in one property by leasing it to a third party tenant," he explains.

Black and Patrick M. Devine, also of the Trammell Crow Co., represented the buyer. Jeff Wentworth of Grubb & Ellis Co.'s Phoenix office brokered the deal on the seller's behalf.According to Black, the buyer was attracted to the building's positioning in Perimeter Center and proximity to Loop 101. "It is one of the most prestigious office environments in the Phoenix MSA," he says. The owning partnership also wanted the new office to be close to executive housing, an element in abundance in nearby Scottsdale.