Younan Properties Acquires Great American Tower In Phoenix For $24.5M

The 25-story Great American Tower located at 3200 North Central Avenue in Phoenix, AZ, was involved in a recent transaction. The property, classified as an office asset, was sold by DPC Cos. to Younan Properties for $24.5 million. The building spans 350,049 square feet, resulting in a price per square foot of $70. The sale price represents half of what DPC Cos. initially paid for the property back in 2016.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $24,500,000
• Address: 3200 North Central Avenue
• Market: Phoenix, AZ
• Buyer: Younan Properties
• Seller: DPC Cos
• Brokers: Barry Gabel, Charles Osbrink & Chris Marchildon - Newmark
• SF: 350,049
• PPSF: $70

The transaction was facilitated by the brokers Barry Gabel, Charles Osbrink, and Chris Marchildon from Newmark. DPC Cos. made its second investment in the Phoenix area through this sale to Younan Properties. The deal signifies a significant shift in ownership of the prominent office property, showcasing the active real estate market dynamics in Phoenix, Arizona.