California-based Western Mutual Insurance Agency recently purchased an office building at 8130 N. Via de Negocio in Scottsdale.
The Class A office building sold by Faith Ventures, LLC cost $1,350,000, according to a press release.
Western Mutual Insurance will reportedly occupy a portion of the building when its current lease expires and expand in to the remainder of the building as business grows.
“The buyer was very interested in purchasing a premier building in this market because they own their corporate headquarters in California,” Greg Hopley, executive vice president of Colliers International in Greater Phoenix, said in a prepared statement.
“This is an excellent acquisition for their future use and expansion in the Arizona market.”
Built in 2005, the office building located within McCormick Ranch, is a two-story Mediterranean-style building with about 8,657-square-feet of space; and was renovated in 2012, noted the release.
Situated north of Via de Ventura and west of Pima Road, the property is convenient to the Loop 101 freeway, detailed the release. The building offers signage visible to Via de Ventura and allows for easy ingress and egress, the release stated.