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Phoenix & Southwest  + Office  | 

Balfour Pacific Snags First Metro Phoenix Acquisition in Resurgent Midtown Market

Vancouver, BC-based Balfour Pacific Capital Inc. reportedly acquired the 25-story Phoenix Corporate Tower in Phoenix’s midtown market from Colony Financial for $42.3 million. The iconic 457,893-square-foot office building, located at 3003 N. Central Ave., is the buyer’s first Phoenix investment.

Developed in 1964, the tower has been upgraded and renovated multiple times since then. Recent improvements include conference facilities, a 180-seat auditorium, training rooms, a tenant lounge, collaborative work space and a newly-renovated courtyard.

Cushman & Wakefield’s Chris Toci and Chad Littell, supported by the agency leasing team of Dave Carder and Scott Boardman, handled the sale. Ryan Cos. is managing Phoenix Corporate Tower, which was 66% occupied.

Toci says, “Anchored by the Department of Child Safety (DCS) in 130,000 square feet, the acquisition of Phoenix Corporate Tower is an excellent entry opportunity for Balfour Pacific into the Phoenix market. Balfour Pacific is well-poised to capitalize on the extensive renovation program undertaken by previous ownership.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition