Mustang Stampede Two LLC Acquires Office Tower At 2999 North 44th Street In Phoenix For $32M
2999 North 44th Street
$32,000,000
$235/SF
Building Size
135,841 SF
Asset Type
Office
Closing
Nov 12, 2026
About this deal
AI
Concord Place, an office tower located at 2999 North 44th Street in Phoenix, Arizona, spans 135,841 square feet and was sold for $32 million. The asset, part of the East Phoenix office market, features a distinctive copper dome and a large 12,800-square-foot koi pond.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,000,000
- Square Footage: 135,841
- Address: 2999 North 44th Street
- Market: Phoenix, AZ
- Price Per Square Foot: $236
- Buyer: Mustang Stampede Two LLC
- Brokers Involved: Christopher Toci, Eric Wichterman - Cushman & Wakefield; Tyson Breinholt - Commercial Properties
The transaction involved Mustang Stampede Two LLC as the buyer of the property, while Cushman & Wakefield facilitated the sale with the involvement of brokers Christopher Toci and Eric Wichterman, alongside Tyson Breinholt from Commercial Properties. The deal comes at a time when East Phoenix office performance is mixed and with a tightening supply of office space in the metro area.
On the Map
$32,000,000
$235/SF
Office
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Players
Neath Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93