19-Story Fully Renovated Office Tower in the Heart of Downtown Phoenix Originally constructed in 1964 and substantially renovated in 2018/2019, the Property is a well-located 256,682 SF, 24% occupied institutional-quality office tower with a subterranean parking garage in the heart of downtown Phoenix. This opportunity presents new ownership with a few different strategies to add tremendous value with an asset in an irreplaceable location. The opportunity exists to curate a diverse and complementary office tenant mix by leasing up the vacant suites in an already highly amenitized and renovated office tower. Another opportunity is to take advantage of the ideal size and shape of the floorplates, ±14,719 RSF, and the current building vacancy to convert the existing office, hotel, or mixed-use project. New ownership can capitalize on the demand for residential in the downtown area or the lack of nicer hotel options and may be able to recognize Federal and local tax credits to help offset repositioning costs.