November 22, 2024 3:33 pm
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Phoenix office tower sold to Calif. group

SEED SPOT is a incubator focused on supporting Arizona’s most innovative social entrepreneurs.By Sue Doerfler | The Arizona Republic

Granite Investment Group of Irvine, Calif., has purchased the 14-story office tower at 2828 N. Central Ave. in Phoenix for $9.8 million from Phoenix-based Ironline Partners.

The 104,000-square-foot building, which is on the southwest corner of Thomas Road and Central Avenue, is home to Seed Spot startup incubator and Mod work lounge. The building was 53 percent leased at the time of the sale.

Senior managing directors Bob Buckley, Tracy Cartledge and Steve Lindley and associate Ben Geelan with DTZ’s Capital Markets Group and vice presidents Mark Stratz and Scott Baumgarten with DTZ’s Office Group represented Ironline in the sale. Ironline had acquired the building in 2012 and made renovations in 2013 and 2014.

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