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9/03/25
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Southwest Value Partners purchased a six-building, 1.247 msf office portfolio in Phoenix in a transaction valued at $266 mil ($213/sf). The Class A properties were sold by City Office REIT Inc.
The transaction is the first closing in the sale of City Office REIT Inc’s Phoenix portfolio, which also includes Pima Center, which is expected to close at a later date, subject to the company obtaining certain approvals related to the property's ground lease.
The current transaction consisted of the following six properties located throughout the Phoenix metropolitan area:
Property -- Address -- Submarket -- Square Feet
Block 23 -- 101 E Washington St. -- Downtown -- 307k sf
5090 N 40th St. -- 5090 N 40th St. -- Camelback Corridor -- 173k sf
SanTan -- 3100-3200 W Ray Rd. -- Chandler -- 267k sf
Papago Tech -- 1600-1700 N Desert Dr -- Tempe -- 163k sf
The Quad -- 6200-6390 E Thomas Rd. -- Scottsdale -- 163k sf
Camelback Square -- 6991 E Camelback Rd. -- Scottsdale -- 174k sf
The properties have strategic locations near Sky Harbor International Airport, executive housing and major Phoenix thoroughfares, including Interstate 10.
JLL’s Capital Markets team representing the seller was led by Senior Managing Director The seller was represented by a JLL Capital Markets team that included Ben Geelan, Will Mast and Charlie von Arentschildt, with advisory services provided by Sher Hafeez, Michael Leggett, Dan Freese and Josh Lieberman.
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