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.

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Lewis says Montoya owned three buildings, totaling 30,000 sf, inthe complex. She tells GlobeSt.com 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.

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"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.

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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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