Royal Neighbors bought Building 2 in the 59,754-sf,four-building complex at 4824 E. Baseline Rd. The company acquiredthe office condo from Phoenix engineer Jose Luis Montoya, who wasrepresented by Laurel Lewis, a vice president with Grubb &Ellis BRE/Commercial LLC in Phoenix.


Lewis says Montoya owned three buildings, totaling 30,000 sf, inthe complex. She tells that downsizing due to a sloweconomy forced the engineer to sell the one-year-old building andput another one on the market. She's not certain what Montoya plansfor the third structure.


"It's not shell," says Lewis, who partnered with Grubb &Ellis BRE first vice president Stephanie Hickok to close the deal."He'd built it all out beautifully, and had put $100 per sf in thedeal. He unfortunately never moved in." As a result, Lewis pointsout that Royal Neighbors of America, represented by Christian Alderwith De Rito Partners Inc. in Phoenix, won't need to make anyupgrades before moving in to the building.


Pierpont Business Court was developed in phases in the pastthree years by Scottsdale, AZ-based Pierpont Commerce Group LLC.The developer simultaneously built the neighboring PierpontCommerce Center at 4850 E. Baseline Rd., an eight-building projectwith 110,334 sf. According to the developer's website, PierpontCommerce Center is 100% sold.

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