A joint venture led by ViaWest Group has acquired a three-building, 288,500-square-foot office portfolio in Tempe, Ariz. Insight Enterprises Inc. sold the properties, which include its corporate headquarters, for $26.9 million. Colliers International represented the seller in the deal.
The Insight Enterprises office portfolio consists of Insight’s 102,000-square-foot corporate headquarters at 6820 S. Harl Ave., a 130,270-square-foot, LEED Gold-certified property at 910 W. Carver Road and an adjacent 56,240-square-foot asset at 8123 S. Hardy Drive.
The buyer intends to redevelop and repurpose at least two of the properties for industrial use. The move builds on Greater Phoenix’s strong demand for new industrial space, with more than 7 million square feet of positive net absorption in the fourth quarter, out of a total of 13.9 million square feet year-to-date net absorption in 2020, according to a Colliers report.
The assets are some 7 miles south of downtown Tempe and 13 miles southeast of downtown Phoenix, just east of Interstate 10. Phoenix Sky Harbor International Airport is roughly 10 miles north.
Colliers’ Phil Breidenbach and Kathy Foster assisted the seller in the disposition. Breidenbach is one of the exclusive leasing agents at Biltmore Center, a 643,145-square-foot office landmark in Phoenix which ViaWest sold last January in a record-breaking deal.
