Downtown Phoenix Office Building Lands $51M Financing
ByHFF secured $50.7 million in financing for U.S. Bank Center, a 359,212-square-foot, 31-story office building in Phoenix. Senior Managing Directors Jeremy Womack and Tom Wilson arranged the three-year, floating-rate loan through an affiliate of Walton Street Real Estate Debt Fund I.
ATTRACTIVE LOCATION
The property is located at 101 N. First Ave., in the heart of downtown Phoenix, offering convenient access to Papago Freeway and Maricopa Freeway. It is also situated within walking distance of multiple dining, shopping and public transportation options. Completed in 1976 and renovated in 2013, the office building features a 13,500-square-foot portion of ground floor retail space, as well as a parking garage with more than 450 parking spaces one block north, at 21 W. Van Buren. Tenants at U.S. Bank Center, which is currently 63 percent occupied, include Xerox, U.S. Bank and Valley Metro…
