April 18, 2024 4:07 pm
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California group closing in on Arizona Center purchase

The Arizona Center in downtown Phoenix
The Arizona Center in downtown Phoenix

By Mike Sunnucks | Phoenix Business Journal

A San Diego real estate firm could soon buy the Arizona Center office and retail development in downtown Phoenix.

Parallel Capital Partners is in line to buy the well-known development at Van Buren and Third streets.

Multiple sources said the sale is in the works. One official, who asked not to be identified, pegged the sale at possibly $130 million.

Parallel already owns a trio of office buildings in midtown Phoenix as well as the One North Central Building in downtown Phoenix.

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