Transwestern Gets $13M for 124,552-SF Office

PHOENIX-Following a two-year hold, Transwestern Investment Co. LLC has sold the 124,552-sf Phoenix West Business Center I to MetroCenter Office LLC of San Diego. The Chicago-based owner has collected $13.2 million for a vacant class B building.

Until last spring, Denver-based Qwest Communications International Inc. had its regional headquarters in the 20-year-old building at 8900 N. 22nd Ave. “The new buyer is planning on leasing it up, then they’ll decide what to do with it,” says a spokeswoman for Transwestern’s Phoenix office.

Overall vacancies in Phoenix point to continued demand for office space. According to a recent report released by Delta, Transwestern’s research arm, 12 million sf of office space is vacant out of a total inventory of 103.8 million sf, meaning a direct vacancy of slightly more than 11%. The nearby Downtown north submarket has 1.3 million sf empty in its 11.1-million-sf inventory, equating to a 12.4% vacancy.