U-Haul Acquires Office Tower At 20 East Thomas Road In Phoenix From Bank Of America For $23.7M

The property involved in this transaction is an office asset located at 20 East Thomas Road in Phoenix, AZ. It features a total square footage of 548,938 and was sold for a price of $23,700,000, equating to a price per square foot of $43.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $23,700,000
• Address: 20 East Thomas Road
• Market: Phoenix, AZ
• Square Footage: 548,938
• Price per Square Foot: $43
• Buyer: U-Haul
• Seller: Bank of America
• Buyer's Representative: Ryan Eustice - Kidder Mathews
• Seller's Representatives: Christopher Toci, Eric Wichterman & Mike Coover - Cushman & Wakefield

This transaction marks a notable event as U-Haul acquired Phoenix's third tallest office tower. The deal, signifying a substantial office sale in the Southwest region since the onset of the pandemic, involved multiple representatives from Cushman & Wakefield for the seller's side.