North Central News

Midtown office tower is sold

Cushman & Wakefield of Arizona, Inc. has completed the $14.8 million sale of the Midtown Phoenix Bank of America Tower at 3030 N. Central Ave.

The tower contains approximately 189,000 square feet of office space situated on .86 acres. In addition, the transaction included a four-story parking garage situated on a .75-acre parcel.

Anchor tenants at the building include Bank of America, Dignity Health, Xerox, AVESIS, Teach for America and Barrow Neurological Institute. The Bank of America Tower currently is 87-percent leased.

A partnership of Morrison Street Capital and Ronald Realty Group of Portland, Ore., sold the property to Omninet Capital of Beverly Hills, Calif. Omninet owns several buildings throughout Phoenix, including but not limited to Siete Square I and IV, Inverness Commons, Le Cota and One MacDonald. Omninet has announced plans to invest more than $2 million in renovations to the Bank of America Tower.

Like what you see? Share it!

Related Posts

Leave a reply

Your email address will not be published. Required fields are marked *

*

Our Advertisers