PHOENIX — Newmark has brokered the sale of Thirty 03, a Class A office building located at 3003 N. Central Ave. in Phoenix. A Canada-based private buyer acquired the 26-story tower from Vancouver, Canada-based Balfour Pacific for $32.2 million. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal.
Offering 458,047 square feet of office space, Thirty 03 has undergone nearly $11 million in transformative capital improvements. Implemented in 2019, the plan included extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81 percent leased to a diverse mix of tenants spanning legal, healthcare, architectural, banking, government and professional services sectors.