ARIZONA NEWS

3200 Central, a massive office tower in midtown, bought by California buyer

Jun 3, 2024, 4:15 AM

3200 Central, one of the largest Phoenix-area office buildings, sold to California-based Younan Pro...

3200 Central, one of the largest Phoenix-area office buildings, sold to California-based Younan Properties. (Nwemark Group Photo)

(Nwemark Group Photo)

3200 Central, one of the 20 largest office buildings in the Phoenix metro, has been sold.

Denver-based DPC Cos. bought the 350,000-square-foot, 25-story building in 2016 from EverWest Real Estate Partners and American Realty Advisors in a $49 million deal. Nearly eight years later, DPC sold 3200 Central to California-based Younan Properties for $24.5 million, according to an affidavit of property value.

The sale was recorded in Maricopa County on May 28.

The building, built in 1984 and once known as the Great American Tower, recently underwent a renovation that included new lobby finishes, upgraded building systems and modernized spec suites. Getting spec suites in existing buildings ready quickly for prospective tenants can expedite the leasing and move-in process, which is becoming a bigger priority in office leasing, particularly with a lack of new construction in the office market.

Tenants of the building include lobbying firm Goodman Schwartz Public Affairs, law firm Fisher Phillips LLP and others. Amenities of the building include a fitness center, a boutique deli, a bank branch, storage units, a conference facility, showers, lockers and 24/7 security.

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

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3200 Central, a massive office tower in midtown, bought by California buyer