City Office REIT has made a $266 million sale of six class A office assets totaling 1.247 million square feet in Phoenix.
JLL Capital Markets represented City Office REIT in the sale of the properties to Southwest Value Partners. The transaction is the first closing in the sale of City Office REIT, Inc’s. Phoenix portfolio. That portfolio also includes Pima Center, which is expected to close at a later date and is subject to the company obtaining certain approvals related to the property’s ground lease.
The portfolio consisted of the following six properties located throughout the Phoenix metropolitan area:
Property
Address
Submarket
Square feet
Block 23
101 E. Washington St.
Downtown
307,000 sf
