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TEMPE, AZ-A leading manager of local homeowners’ associations has dropped $1.4 million on a 12,000-sf, build-to-suit building for its new city headquarters.

Lepin and Renehan Management Inc. recently moved into 7,000 sf at the 6955 S. Priest Dr. building, located in the Autoplex Center, an office, light industrial and retail complex known for its preponderance of car dealerships. The firm, run by the husband and wife team of Larry and Karen Lepin, has more than tripled its office space in the move from Elliott Road here, Steve Bodeman, first vice president for the Phoenix office of Daum Commercial Real Estate Services, tells GlobeSt.com. The new owners and their staff of 20 manage several homeowners’ associations in the southeast Valley.

The firm’s new headquarters is a single-story, concrete-block structure located on just under an acre tract near Interstate 10 and several of the area’s amenities. Designed by Balmer Architectural Group of Phoenix, the structure features a striking glass facade, accented by split-faced block design for added texture.

Bodeman says the Lepins selected the site because it offered good visibility on Priest Drive and an upside investment potential. The firm plans to lease out the remaining 5,000 sf at a rate of $21 per sf, full service.

Bodeman represented Lepin and Renehan in the acquisition and will serve as leasing agent for the property along with Laura Becker, also with Daum. Seller Sunstate Builders of here was represented in the transaction by Dave Johnson and Jerry Marrell, both with Phoenix-based Lee & Associates Arizona.

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