The two-building complex at 1951 and 2001 W. Camelback Rd. wentthrough a rough marketing period, according to Dennis Desmond,senior vice president for Transwestern Phoenix. The 15.5-acre assetwas 70% leased at sale time.

The complex was first introduced to the market more than a yearago. When occupancy dropped, KBS took it off the market and thenre-listed the property with Grubb & Ellis|BRE Commercial LLC inmid-2007. "This was burdened by the light rail construction aroundit, which was causing a lot of congestion," explains Desmond, whoformerly was with Grubb & Ellis and on the team that sold thebuildings. He adds the soft market also impeded the sale.

But with construction finished and the light rail scheduled toopen this December, Desmond says the asset should do quite well."The property historically has reached mid-90s occupancy," he tellsGlobeSt.com. "It's struggled during the past year. But now with themarket softening, I think Fenway can offer space there at veryattractive rates. They are the nicest class B buildings in itssubmarket."