Mixed-use building Block 23 in downtown Phoenix sells for $150M

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Mixed-use building Block 23 in downtown Phoenix sells for 0M
Mixed-use building Block 23 in downtown Phoenix sells for 0M

PHOENIX – Real estate services company JLL Capital Markets announced last week that it had completed a $ 150 million sale of a mixed-use building in downtown Phoenix. The sale of Block 23 set a record for multi-tenant office businesses per square meter, JLL Capital Markets said in a press release. The 307,000 square meter area has floor-to-ceiling windows and includes a pickleball court, a sky lobby and an on-site parking garage. Block 23 is a mixed use live work and play destination located next to CityScape, across from the Footprint Center and near Chase Field. The building also includes a Fry’s Fresh Marketplace, Blancos Tacos and Tequila, and Ingo’s Tasty Food, the press release said. “Block 23 has a superior long-term core location in downtown Phoenix that has invested more than $ 6 billion in the immediate area since 2005,” said Ben Geelan, senior director of JLL Capital Markets, in the press release. “We have seen strong investor interest in newly built, premium mixed-use assets. RED Development delivered exactly that with Block 23. The dynamic live work-play offering resulted in a record price for a multi-tenant mixed-use asset. ”Follow @ KTAR923 We’d like to hear from you. Do you have a story idea or a tip? Forward it to the KTAR news team here.

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