Sumitomo Corp. ofAmericas has acquired Collier Center, a 24-story,578,000-square-foot office building. The property is 84% occupiedwith Bank of America and Uber as its largest tenants.

The investor was attracted to Phoenix because of its recentgrowth, including low unemployment and population growth. Theproperty is within short walking distance of Phoenix's light railtrains and bus lines, and just minutes from the downtown area'smajor highways.

With this new acquisition, Sumitomo Corp. of Americas owns acommercial real estate portfolio totaling over $425 million to datewith over 1.6 million square feet of commercial space.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.