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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!
