A 20-story Phoenix high-rise office building recently sold for $15 million, a steep discount from the $29.4 million the seller paid for it. The Phoenix Business Journal reports Townline Ventures sold the property at 2600 N. Central to Cotterkey Investments.
The building was built in 1994, and sits on 2.74 acres at the corner of Central Avenue and Thomas Road. It was renovated in 2022 to add a revamped lobby, tenant lounge, conference center and fully equipped gym.
Ric Holway with Berkadia represented the buyer, while Mindy Korth with Colliers represented the seller.
The building’s largest tenant is the U.S. Bureau of Indian Affairs, which takes up about four floors. Some other government agencies are also tenants, along with some law firms. The building is about 63% occupied.
Cotterkey also owns another notable midtown high-rise office building — the Bank of America building at 3030 N. Central Ave, which it acquired two years ago for $11.4 million. That building was about half-occupied at the time and has since filled up.
The post Cotterkey Picks Up Discounted Phoenix Highrise appeared first on Connect CRE.
​Â