The iconic Arizona Center in Phoenix, located at 3rd Street and Van Buren, has recently been sold for $27 million to Presson Corporation. The seller was Angelo Gordon & Co. Since its construction in 2000, the center has undergone a massive renovation of $25 million in 2019 and currently houses several empty retail and restaurant spaces as well as AMC Theaters, Jersey Mike’s Cold Stone Creamery and BoSa Donuts. Additionally included is a 19-story office building constructed back in 1990 that offers 461,000 square feet of leasable space across five buildings on 7.31 acres total.
Iran Conflict and Inflation: How Middle East Tensions Are Impacting the U.S. CRE Market
More than three months after the United States and Israel launched coordinated military strikes against Iran on February 28, 2026,
Steve Griffin
June 6, 2026
