ARIZONA NEWS

Developer buys downtown Phoenix office building for $15.25 million

Feb 8, 2019, 6:45 PM
(True North Studio Photo)...
(True North Studio Photo)
(True North Studio Photo)

PHOENIX – A Phoenix real estate developer said Friday it plunked down $15.25 million for an office building in downtown’s burgeoning Roosevelt Row Arts District.

The new owner, True North Studio, plans to add food and beverage concepts as well as paid public parking to the property on the northeast corner of Central Avenue and Roosevelt Street.

“This is a marquee building for the Central Avenue corridor and a true gateway into the Roosevelt Row Arts District, the Downtown Core, historic residential neighborhoods and cultural venues around Hance Park,” Jonathon Vento, True North’s founder, said in a press release.

The developer, who is rebranding the complex as the “Ten-O-One” building after its street address (1001 N. Central), will collaborate with architect DAVIS and contractor Venn Construction. Western Retail Advisors will work on tenant attraction.

“Ten-O-One is the only office building of this scale located in the vibrant Roosevelt Row Arts District, exactly where talent attracted to new-economy companies want to work, live and play,” Steve Lindley of Cushman & Wakefield, the company that brokered the deal, said in the release.

The Maricopa County Environmental Services and Air Quality departments occupied much of the building until their lease expired at the end of 2018.

True North is also in the process of developing two other high-profile downtown projects, the Cambria Hotel and Punch Bowl Social, a restaurant, bar and entertainment venue. Both are expected to open later this year.

Lifetime Windows & Doors

We want to hear from you.

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

Arizona News

(Cave Creek Museum Photo)...
KTAR.com

Cave Creek Museum to construct Veterans Memory Garden

The Cave Creek Museum announced it will construct the Veterans Memory Garden to honor those who served and the unknown fallen soldiers.
1 day ago
Sidney Garrand (Maricopa County Sheriff's Office Photo)...
KTAR.com

Man indicted on second-degree murder in road rage shooting death of 8-year-old in Phoenix

A man has been indicted on second-degree murder in the road rage shooting death of an 8-year-old girl in Phoenix last month.
1 day ago
(Facebook Photo/Daily Dose Midtown)...
Kevin Stone

Scratch Daily Dose in midtown Phoenix off your list of brunch spots

Midtown Phoenix lost a popular brunch option last week when the Daily Dose Kitchen & Bar closed its doors for good.
1 day ago
(Photo by John Moore/Getty Images)...
Associated Press

Authorities identify family members killed in rollover crash on Arizona freeway

Authorities have identified a man and two children who died in a rollover crash on an Arizona freeway that left four other family members injured last week.
1 day ago
Maricopa County Board of Supervisors Chairman Bill Gates calls for calm among the attendees during ...
Kevin Stone

Maricopa County board chairman encourages legal challenges to election

Maricopa County Board of Supervisors Chairman Bill Gates said he welcomes legal challenges to the 2022 general election results and will abide by any court rulings.
1 day ago
(Mark Taylor Rendering)...
KTAR.com

New luxury detached homes available for rent in west Phoenix neighborhood

The west Phoenix neighborhood of Laveen is the home for a new community of single-family detached rental units.
1 day ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
...
Quantum Fiber

Stream 4K and more with powerful, high-speed fiber internet

Picking which streaming services to subscribe to are difficult choices, and there is no room for internet that cannot handle increased demands.
...
Day & Night Air Conditioning, Heating and Plumbing

Ways to prevent clogged drains and what to do if you’re too late

While there are a variety of ways to prevent clogged drains, it's equally as important to know what to do when you're already too late.
Developer buys downtown Phoenix office building for $15.25 million