The buyer beat 12 other offers from private and institutionalplayers with its offer for a quick close, aggressive pricing and anall-cash deal for 9060 E. Via Linda property, according to ChrisToci, executive director with Cushman & Wakefield of ArizonaInc., who represented the seller, LBA Realty of Irvine CA alongwith colleagues Ted Harrison, James Wilson and Michael Beall."There was a good sampling of all the food groups, except for theREITs," Toci says.

Toci says LBA inherited the 21-year-old office building in theearly 2006 merger with Bedford Properties Investors Inc. ofLafayette, CA. LBA has one local property left from the Bedfordportfolio: the 140,157-sf Executive Center at Southbank at 3600 E.University Dr. Toci says the owner, which has other assets inGreater Phoenix, is working right now to renew Executive Centertenants.

Via Linda's two tenants are Sentry Insurance Co. and Caremark RxInc. Both leases will roll in March 2008. Toci tells GlobeSt.comthat each lease has a renewal option and significant room for abump-up in rent. He says the rate was $21.73 per sf when theysigned their deals, but the going market rate now is $24 per sf to$25 per sf.