Balfour Pacific Capital Acquires 25-Story Phoenix Corporate Tower for $42.3M
PHOENIX — Vancouver, Canada-based Balfour Pacific Capital has purchased the Phoenix Corporate Tower, a 25-story office property located in midtown Phoenix, for $42.3 million.
Situated on 17.4 acres at 3003 N. Central Ave., the landmark property features 457,893 square feet of office space. At the time of sale, the property was 66 percent occupied. Developed in 1964, the building has been upgraded and renovated multiple times, with recent improvements including conference facilities, a 180-seat auditorium, training rooms, a tenant lounge, collaborative work space and a newly renovated courtyard. Department of Child Safety occupies 130,000 square feet of the property.
Chris Toci, Chad Littell, Dave Carder and Scott Boardman of Cushman & Wakefield handled the transaction.