On Wednesday the One Thomas office tower sold to Granite Investment Group of California for just under $10 million. The group of local investors who sold the property had purchased it back in 2012 for only $4.25 million from Foreclosed Property Holdings. Granite Investment Group funded the sale with a loan from Farmers & Merchants Bank of Central California with a maximum lien amount of $10.73 million.
The One Thomas office tower totals roughly 100,000 square feet in thirteen stories built in 1984, and includes a below grade, 300-space parking structure. It is located directly at the southwest corner of Central Avenue and Thomas Road in Phoenix.For more information on this property including complete history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!