Cotterkey Investments Acquires Office Tower In Phoenix From Townline Ventures For $15M
2600 North Central Avenue
$15,000,000
Building Size
—
Asset Type
Office
Closing
Nov 14, 2025
AI
The property asset involved in this transaction is a 20-story office tower located at 2600 North Central Avenue in Phoenix, AZ. The total transaction amount was $15,000,000 for the 2.74-acre site, which currently has a 63% occupancy rate and underwent recent renovations.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,000,000
- Buyer: Cotterkey Investments
- Seller: Townline Ventures
- Buyer's Representative: Ric Holway - Berkadia
- Seller's Representative: Mindy Korth - Colliers
The transaction reflects Cotterkey Investments' strategy to expand its midtown portfolio, following their recent acquisition of the Bank of America building at 3030 N. Central Ave., which has since seen increased leasing activity.
Phoenix Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93