Phoenix, Ariz. – Chase Tower, Arizona’s tallest building, was acquired by Phoenix – 201 North Central Avenue Property, LLC, a partnership managed by Wentworth Property Company (“Wentworth”). Located at 201 N. Central Avenue, the office building stands 483 feet tall and consists of 40 floors and 724,000 square feet. Wentworth plans to renovate Chase Tower and is working on putting together a team and designs for the building.
“We had an exceptional opportunity to become the owners of Phoenix’s most iconic office building,” said Jim Wentworth, principal with Wentworth. “We are big believers in downtown Phoenix. In fact, we recently moved our corporate offices into a downtown building we bought and renovated. We can’t imagine a building we would rather own in this vibrant urban core than Chase Tower.”
“The Chase Tower in Downtown Phoenix is a critical employment center and a landmark in our business core,” said Phoenix Mayor Greg Stanton. “We are excited to have Wentworth [Property Company] as our partner to remodel and reposition the tower, giving it new life in our fast-growing downtown community.”
The Tower opened in 1972 after a three-year construction period. It was designed by Los Angeles-based architects Welton Becket & Associates (Ellerbe Becket) and the Phoenix architecture firm Guirey, Srnka, Arnold & Sprinkle and built by contractors Henry C. Beck Company. The property includes an adjacent stacked parking garage which was also acquired in the transaction.
About Wentworth Property Company
Wentworth Property Company (Wentworth) is a fully-integrated, industry-leading commercial real estate company with proven experience in development, acquisitions and management. A Phoenixbased company, Wentworth has a national presence through its developments in numerous states and a satellite office in Dallas, TX. Wentworth’s projects include ground-up development, build-to-suit, acquisitions and redevelopment of office, industrial, retail and storage properties. Wentworth’s team of professionals has been involved in over 8 million square feet of development and acquisition transactions. For additional information visit www.wentworthpropertycompany.com