Arizona Center Iconic Property Sold for $27M

The iconic Arizona Center in Phoenix, located at 3rd Street and Van Buren, recently sold for $27 million to Presson Corporation. The seller was Angelo Gordon & Co. Built in 2000, the center underwent a massive renovation of $25 million in 2019 and now offers 461,000 square feet of leasable space across five buildings on 7.31 acres with several empty retail and restaurant spaces as well as current tenants such as AMC Theaters, Jersey Mike’s Cold Stone Creamery and BoSa Donuts. Additionally included is a 19-story office building constructed back in 1990.