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$78-Mil Office Project Lands Two More Tenants

PHOENIX-Phelps Dodge Tower, a $78-million CBD project, has reached the 69% pre-leased mark, signing two tenants to 78,000 sf of the 410,000-sf undertaking. Coming on board will be HUD and a law firm.

By D.J. Burrough | Updated on September 06, 2001

PHOENIX-The $78-million, under-construction Phelps Dodge Tower, still under construction in the heart of downtown Phoenix, has two new tenants.

The 20-story tower will house the Regional Office of the Department of Housing and Urban Development and the law firm of Ryler, Carlock & Applewhite. The Southwest regional office of the Ryan Cos. is developing the CBD office tower, going up at the northeast corner of Central Avenue and Washington Street. The 410,000-sf project delivers in the fall.

HUD has signed a 10-year lease for 29,000 sf and Ryler, Carlock & Applewhite is taking 49,000, or the 11th and 12th floors of the tower. The firm will be relocating in August 2002 from another Phoenix location.

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