Phoenix midtown high-rise sells for $15M, nearly half its 2019 price

A high-rise office building in midtown Phoenix recently sold at a steep discount. The property, located at 2600 N. Central Avenue, was purchased for $15 million on November 5. The transaction involved a transfer from Vancouver-based Townline Ventures to Phoenix-based Cotterkey Investments.

Back in 2019, the building sold for nearly twice that amount, fetching $29,450,000. This 20-story structure encompasses over 317,000 square feet and was originally built in 1994. It occupies a 2.74-acre parcel situated at the corner of Central Avenue and Thomas Road.

In 2022, the building underwent renovations that included a revamped lobby, a tenant lounge, a conference center, and a fully equipped gym—enhancements aimed at improving the tenant experience and modernizing the facility.
https://ktar.com/arizona-real-estate/midtown-phoenix-office-building/5776487/