During its ownership, G&IIV Corridors LLC of New York Citypushed the class A building's occupancy to 95%, a 10% boost fromwhen it was acquired. "The sellers had bought it from thedeveloper, the Alter Group out of Chicago. They leased it up,decided it was time to sell and to cash in all the chips," ChrisToci, executive director with Cushman & Wakefield of ArizonaInc.'s Phoenix office, says about the motivation to sell 2155 W.Pinnacle Peak Rd. The C&W sales team included senior directorsMichael Beall and Tim Whittemore and associates Brian Ackerman andTed Harrison.

Toci says the buyer, OppenheimImmobilien-Kapitalanlagegesellschaft MBH, advised by New YorkCity-based Real Estate Capital Partners, beat 11 other offers inthe initial bidding round. The fund then went on to triumph overtwo finalists.

"In the final round of bidding, we'd narrowed it down to theGerman fund, a pension fund and an investment project," Toci tellsGlobeSt.com. "It was pretty aggressively bid by three capablebuyers." He says the German fund won out with the highest price andaggressive upfront deposits. "They liked the fact that ChubbInsurance had a pretty good term on its lease," he says.