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Balfour Pacific Sells Office Building At 3003 North Central Avenue In Phoenix For $32.25M

Property Image
SOLD
$32,250,000
Charles (CJ) Osbrink
Chris Marchildon
Barry Gabel

Arizona

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Office458,047 SF
Sold 02/06/2026
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Property Image
SOLD

Balfour Pacific Sells Office Building At 3003 North Central Avenue In Phoenix For $32.25M

3003 North Central Avenue

See Similar Deals
Office458,047 SF
Sold 02/06/2026
Charles (CJ) Osbrink
Chris Marchildon
Barry Gabel
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Office
Price Per Square Foot:$70
Total Square Footage:458,047 SF
Transaction Type:Sale

The asset involved in this transaction is a Class A multi-tenant office building located at 3003 North Central Avenue in Phoenix, AZ. The building encompasses a total square footage of 458,047 and was sold for $32,250,000, equating to a price per square foot of $70. At the time of the sale, the property was 81% leased and had undergone nearly $11 million in upgrades.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $32,250,000
  • Seller: Balfour Pacific
  • Brokers: Barry Gabel, Chris Marchildon & Charles (CJ) Osbrink - Newmark
  • Sale Date: 02/06/2026
  • Market: Phoenix, AZ
  • Square Footage: 458,047
  • Price per Square Foot: $70

Newmark facilitated the sale of the property to a private Canada-based buyer, showcasing their involvement in the transaction and highlighting the connections between broker representatives and the seller, Balfour Pacific.

Players

Barry Gabel
Newmark
Barry Gabel
13 deals$531.5M volume
BROKER
Chris Marchildon
Newmark
Chris Marchildon
13 deals$531.5M volume
BROKER
Charles (CJ) Osbrink
Newmark
Charles Osbrink
8 deals$325.9M volume
BROKER
BC
Balfour Pacific Capital
SELLER

Details

SOLD
IMAGE: 02/06/2026 ADDRESS: 3003 North Central Avenue MARKET: Phoenix, AZ ASSET TYPE: Office SELLER: Balfour Pacific BROKERS: Barry Gabel, Chris Marchildon & Charles (CJ) Osbrink - Newmark SALE PRICE: $32,250,000 SF: 458,047 ~ PPSF: $70 NOTE: Newmark facilitated the sale of Thirty 03, a 26-story Class A multi-tenant office building in Phoenix, to a private Canada-based buyer; the building underwent nearly $11 million in upgrades and was 81% leased at the time of sale.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,720,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$114,577.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$152,881.45
Annual Debt Service$1,834,577.44