Newmark arranged the $32.25 million sale of Thirty 03, a 26-story, Class A multi-tenant high-rise office building located at 3003 North Central Avenue in Phoenix, Arizona. The 458,047-square-foot property sold to a private Canada-based buyer.Â
Newmark’s Barry Gabel, Chris Marchildon and CJ Osbrink represented the seller, Balfour Pacific of Vancouver, Canada. The buyer was not disclosed.
Originally constructed as one of Metro Phoenix’s first institutional high-rise office properties, Thirty 03 has undergone nearly $11 million in capital improvements. A comprehensive capital plan was implemented beginning in 2019, encompassing extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81% leased.Â
Thirty 03 is located steps away from the Valley Metro Rail stop at Central Avenue & Thomas Road.
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