PHOENIX-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 14-story 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% leased.
A partnership of Morrison Street Capital and Ronald Realty Group of Portland, OR sold the property to Omninet Capital of Beverly Hills, CA. Omninet already owns several buildings throughout Phoenix, including Siete Square I and IV, Inverness Commons, Le Cota and One MacDonald. Omninet plans to invest more than $2 million in renovations to the Bank of America Tower.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
