Western Mutual Insurance acquires office building for expansion
Phoenix, November 30, 2017 – Greg Hopley with Colliers International in Greater Phoenix negotiated the sale of an office building at 8130 N. Via de Negocio in Scottsdale, Arizona. California-based Western Mutual Insurance Agency purchased the Class A office building for $1.35 million from Faith Ventures, LLC.
“The buyer was very interested in purchasing a premier building in this market because they own their corporate headquarters in California,” said Hopley, executive vice president with Colliers. “This is an excellent acquisition for their future use and expansion in the Arizona market.”
Built in 2005, the office building is located within McCormick Ranch. The two-story Mediterranean-style building contains approximately 8,657 square feet of space and was renovated in 2012.
Situated north of Via de Ventura and west of Pima Road, the property offers convenient access to the Loop 101 freeway. The building features excellent signage visibility to Via de Ventura, with desirable ease of ingress and egress. The lushly landscaped property offers secure parking and is in proximity to an abundance of amenities. Parks, restaurants, shopping and hotels are located within five minutes of the building.
Western Mutual Insurance plans to take occupancy of a portion of the building when its current lease expires. The company will expand into the remainder of the building as its business grows.
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Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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