By admin 
A 20-story downtown Phoenix office tower traded hands on Oct. 2.
One North Central, which totals 429,120 square feet and sits at the southeast corner of Central Avenue and Adams Street, sold to California-based AXS Opportunity fund in an all-cash deal. The deal marks the buyer’s first office property investment in Arizona, according to Newmark.
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Newmark’s Chris Marchildon, CJ Osbrink and Barry Gabel represented the seller in the transaction.
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While Newmark declined to identify the seller, Maricopa County records show that PFP 5 SUB ONC LLC assigned its rights to the building AXS-controlled One North Central LLC on Oct. 1. PFP is a subsidiary of San Diego-based Parallel Capital Partners Inc., which acquired the building for $93.75 million from Mitsubishi Estate Group in June 2015.
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Read more of this story from the Business Journal.