{"id":1004159001,"date":"2016-11-14T09:30:27","date_gmt":"2016-11-14T17:30:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004159001"},"modified":"2020-05-10T21:34:57","modified_gmt":"2020-05-11T05:34:57","slug":"phoenix-great-american-tower-sells-for-49m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-great-american-tower-sells-for-49m\/","title":{"rendered":"Phoenix Great American Tower Sells for $49M"},"content":{"rendered":"

by Evelina Croitoru<\/p>\n

\"Great<\/a>

Great American Tower<\/p><\/div>\n

Phoenix<\/strong>\u2014EverWest Real Estate Partners<\/a> and American Realty Advisors<\/a> have announced the sale of the Great American Tower, a landmark high-rise office building in midtown Phoenix. The property traded for $49 million and was acquired by Colorado-based DPC Cos.<\/a>, a privately held commercial real estate firm specializing in the acquisition and development of commercial real estate in the West.<\/p>\n

\u201cThis is an exciting time to own and operate office space in the Central Avenue corridor. Tenant interest is strong, and there is still solid upside potential for landmark properties like Great American Tower,\u201d Amr Ceran, senior director for EverWest, said in prepared remarks.<\/p>\n

Located at 3200 North Central Ave., the 24-story Class A office building built in 1985 incorporates 344,527 square feet, with average floor plates of 15,000 square feet. The property is situated on 2.6 acres at the high-profile intersection of Osborn Road and North Central Avenue. At the time of the deal, the asset was 86 percent leased to a diverse tenant roster including Dignity Health, as well as legal, finance, engineering and government entities. Great American Tower is adjacent to the 39-acre Park Central Mall.<\/p>\n

Cushman and Wakefield<\/a>\u2019s Chris Toci, Chad Littell and Larry Downey represented EverWest and American Realty Advisors in the sale. According to Yardi Matrix<\/a> data, the transaction was subject to a $39 million loan held by Washington Federal with an undisclosed maturity date.<\/p>\n

Image courtesy of EverWest Real Estate Partners <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The property was sold by EverWest Real Estate Partners and American Realty Advisors and was acquired by DPC Cos.<\/p>\n","protected":false},"author":1055,"featured_media":1004159004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1601,15],"tags":[],"class_list":["post-1004159001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-phoenix","category-west"],"acf":[],"yoast_head":"\nPhoenix Great American Tower Sells for $49M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-great-american-tower-sells-for-49m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Great American Tower Sells for $49M\" \/>\n<meta property=\"og:description\" content=\"The property was sold by EverWest Real Estate Partners and American Realty Advisors and was acquired by DPC Cos.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-great-american-tower-sells-for-49m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-14T17:30:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T05:34:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/GreatAmericanTower_5x7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1250\" \/>\n\t<meta property=\"og:image:height\" content=\"1797\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-great-american-tower-sells-for-49m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-great-american-tower-sells-for-49m\/\",\"name\":\"Phoenix Great American Tower Sells for $49M - 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