April 18, 2024 6:40 pm
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New York firm mines deal for Freeport McMoRan building in downtown Phoenix

The Freeport McMoRan Center in downtown PhoenixThe Freeport McMoRan Center in downtown Phoenix has been sold for $110 million

New York-based American Realty Capital Properties Inc. (Nasdaq: ARCP) has bought the building for more than $441 per square foot, according to the Business Real Estate Weekly of Arizona.

The 26-story commercial building is located Van Buren Street and Central Avenue in Phoenix.

The sale was first reported by Phoenix Business Journal

It is the home to the headquarters of mining giant Freeport McMoRan Copper and Gold (NYSE: FCX), the Arizona Commerce Authority and the Westin Downtown Phoenix Hotel.

Central Park East Associates, an arm of Washington D.C.-based National Real Estate Advisors, is the seller.

CBRE Group Inc. brokers Jim Fijan and Will Mast brokered the sale.

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