The acquisition from Saguaro Ventures LLC required zoning relieffrom the City of Tempe, Ken McQueen, director of Insignia/ESG inPhoenix, tells GlobeSt.com. The change took the property fromoffice to medical use. McQueen says the sale included an officefinish-out for the "for-sale" shell so the therapist could open forbusiness the day after Ward closed on the acquisition at 2065 S.Cottonwood.

Saguaro, a Phoenix-based merchant builder led by DallasPeterson, still has three of the five single-user buildings up forsale in the purely spec development. Eric Jones of CommercialProperties in Phoenix negotiated the sale for Saquaro and McQueenrepresented Ward.

Ward is one of the main investors in Mondo's restaurant inPhoenix. His primary real estate holdings are located in Iowa,where he operates Randy's Carpets. According to McQueen, Wardbought the property for his friend, the therapist, who in turnsigned a five-year lease for 82% of the building. The buildingfronts Loop 101 and attracted no other bidders, says McQueen.