ARIZONA NEWS

Accounting firm buys Arizona Republic office building in downtown Phoenix

Dec 11, 2023, 4:15 AM

The 10-story building in downtown Phoenix that houses the Arizona Republic and KPNX-TV has changed ...

The 10-story building in downtown Phoenix that houses the Arizona Republic and KPNX-TV has changed hands. (Photo by Mike Sunnucks)

(Photo by Mike Sunnucks)

Phoenix-based ViaWest Group has sold the downtown Phoenix office tower that houses The Arizona Republic and KPNX-TV 12News.

The 10-story office building, called 200EVB, sold on Nov. 30 for $14.5 million to Pivot 200 EVC LLC. The entity is connected to Eric Stenson, the CEO of Phoenix-based financial advisory and accounting firm Stenson Tamaddon, according to real estate database Vizzda.

“We decided to sell 200EVB primarily because we had been in the project for longer than our original business plan due to Covid and other market factors,” said Steven Schwarz, founding partner for ViaWest Group, in an email to the Business Journal.

Schwarz said his firm is focusing most of its capital on industrial properties and potentially multifamily, so the sale of the office building at 200 E. Van Buren St. will allow the company to free up cash for other sectors.

Earlier this year, ViaWest also sold the adjacent parking garage for $25.5 million with an option to lease back some of the parking spaces in perpetuity, Schwarz said.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

This rendering shows what the Mesa Grandview Business Park will look like upon completion. (Photo v...

Serena O'Sullivan

Construction starts on 270,000-square-foot industrial development in Mesa’s Falcon District

Several companies related to the Mesa Grandview Business Park gathered with city officials for the groundbreaking of the industrial development.

5 hours ago

CarMax, the nation’s largest used vehicle seller, is hiring after announcing a new reconditioning...

David Veenstra

CarMax hiring for new West Valley reconditioning and auction center

CarMax, the nation’s largest used vehicle seller, is hiring after announcing a new reconditioning and auction center in the West Valley on Thursday.

6 hours ago

Emergency air medical base opens at Abrazo West Campus Goodyear...

Serena O'Sullivan

New emergency helicopter base opens at West Valley hospital

A new emergency air medical base in Goodyear will expand the presence of life-saving care provider Air Methods, the company said on Wednesday.

8 hours ago

DOGE access lawsuit...

KTAR.com

Arizona to sue over DOGE access to government payment systems containing personal data

Arizona is about 12 states that plan to sue over DOGE access to government payment systems containing personal data

9 hours ago

Arizona Gov. Katie Hobbs called for increased state firefighter pay on Thursday during an event to ...

Kevin Stone

Arizona governor calls for pay raise for firefighters while honoring those who battled LA wildfires

Arizona Gov. Katie Hobbs called for increased state firefighter pay while honoring the task force members who helped battle the Los Angeles wildfires.

11 hours ago

free wigs...

Kevin Stone

Arizona cancer support group opening free wig salon in Phoenix

An Arizona cancer support organization is launching an initiative to provide patients and survivors experiencing hair loss with free wigs.

13 hours ago

Sponsored Articles

...

The UPS Store

How The UPS Store is giving back to the community

PHOENIX -- As 2024 nears a close, The UPS Store is looking to give back to the Arizona community with the holiday season approaching.

...

Sanderson Ford

Sanderson Ford’s Operation Santa Claus: Spreading holiday cheer through pickleball

Phoenix, AZ – Sanderson Ford, a staple in the Arizona community, is once again gearing up for its annual Operation Santa Claus charity drive.

...

Schwartz Laser Eye Center

Don’t miss the action with this game-changing procedure

PHOENIX -- The clear lens exchange procedure has emerged as a popular alternative to LASIK eye surgery.

Accounting firm buys Arizona Republic office building in downtown Phoenix