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MESA, AZ-In its bid to break into the market, Royal Neighbors of America of Rock Island, IL has bought a 10,294-sf building in Pierpont Business Court for its regional office. The office condo cost $2.2 million.

Royal Neighbors bought Building 2 in the 59,754-sf, four-building complex at 4824 E. Baseline Rd. The company acquired the office condo from Phoenix engineer Jose Luis Montoya, who was represented by Laurel Lewis, a vice president with Grubb & Ellis BRE/Commercial LLC in Phoenix.

Lewis says Montoya owned three buildings, totaling 30,000 sf, in the complex. She tells GlobeSt.com that downsizing due to a slow economy forced the engineer to sell the one-year-old building and put another one on the market. She’s not certain what Montoya plans for the third structure.

“It’s not shell,” says Lewis, who partnered with Grubb & Ellis BRE first vice president Stephanie Hickok to close the deal. “He’d built it all out beautifully, and had put $100 per sf in the deal. He unfortunately never moved in.” As a result, Lewis points out that Royal Neighbors of America, represented by Christian Alder with De Rito Partners Inc. in Phoenix, won’t need to make any upgrades before moving in to the building.

Pierpont Business Court was developed in phases in the past three years by Scottsdale, AZ-based Pierpont Commerce Group LLC. The developer simultaneously built the neighboring Pierpont Commerce Center at 4850 E. Baseline Rd., an eight-building project with 110,334 sf. According to the developer’s website, Pierpont Commerce Center is 100% sold.

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