The nonprofit group bought the 30,000-sf office building at 201 W. Coolidge St. in Phoenix from Matrix Bancorp. Inc. The sale was negotiated by the local office of CB Richard Ellis.
Donor Network plans to convert the complex into an organ and tissue repository. Completion is schedule for January.
Downtown Phoenix's available supply of class A office space has dwindled in recent years. At the start of the third quarter the vacancy rate for class A in Downtown was a mere 1.4%. But plenty of class B space remains available, with a vacancy rate of more than 20%.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
