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Phoenix’s Chase Tower Trades Again, This Time for $108M
New York-based Viola Lordsmeer L.P. acquired Chase Tower in downtown Phoenix from a partnership managed by Phoenix-based Wentworth Property Co. for $107.5 million. The 40-story building, which is Arizona’s tallest skyscraper, was acquired by the Wentworth team in April through a foreclosure deal valued in the neighborhood of $80 million.
The 724,000-square-foot asset is located at 201 N. Central Ave., and rises 483 feet tall. Originally built for Valley National Bank, the tower is primarily occupied by New York-based JP Morgan Chase, which claims 27 floors. It is unclear if that will change when Chase Bank takes occupancy of the Discovery Business Campus in Tempe.
The owner of Viola Lordsmeer is Vincent Viola, who owns the Florida Panthers National Hockey League team.
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