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Phoenix & Southwest  + Office  | 

Phoenix’s Chase Tower Divested for $80M

Chase Tower, a 40-story office building in Phoenix, was acquired by a joint venture formed by Phoenix-based Wentworth Property Co. for $78.8 million. The 723,922-square-foot office tower at 201 N. Central Ave. was built in 1972, and has been the tallest building in Arizona for 45 years.

Phoenix – 201 North Central Avenue Property LLC., a JV formed by Wentworth and New York-based Taconic Capital Advisors L.P., also acquired a 1,900-space parking garage at 201 N. 1st St. The previous owner lost the asset to foreclosure.

The new owners plan to renovate the iconic tower that has commanded a dominant place on the downtown Phoenix skyline for decades. Primary tenant, JPMorgan Chase & Co., occupies the majority of office space in the nearly fully-leased building. That could change when Chase Bank takes occupancy of the Discovery Business Campus in Tempe.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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