Highlights
- One North Central, a 429,120-square-foot Class A office tower in downtown Phoenix, has sold to a California buyer in an all-cash deal.
- The 20-story building at 1 North Central Avenue was arranged by Newmark, according to the firm's press release.
- AZ Big Media, ABC15, and the Phoenix Business Journal all confirmed the transaction closed in early October 2026.
- The out-of-state, all-cash buyer signals continued institutional appetite for downtown Phoenix office assets despite national headwinds.
<p>A California buyer has acquired <a href="https://realestatedaily-news.com/newmark-arranges-sale-of-one-north-central-office-tower/">One North Central</a>, a 429,120-square-foot, 20-story Class A office tower at 1 North Central Avenue in <a href="/entity/downtown/">downtown</a> Phoenix, in an all-cash deal arranged by Newmark, the firm announced October 7.</p> <p>The transaction was confirmed by <a href="https://azbigmedia.com/real-estate/big-deals/newmark-sells-massive-one-north-central-office-tower/">AZ Big Media</a>, <a href="https://www.abc15.com/news/business/downtown-phoenix-office-tower-sells-to-california-buyer-in-all-cash-deal">ABC15</a>, and the <a href="https://www.bizjournals.com/phoenix/news/2026/10/02/downtown-phoenix-office-tower-trades-hands.html">Phoenix Business Journal</a>. The buyer's identity and the sale price were not disclosed in available public records at time of publication.</p> <h2>Who arranged the deal?</h2> <p><a href="https://www.nmrk.com/insights/press-releases/newmark-arranges-sale-of-one-north-central-a-nearly-430-000-square-foot-downtown-phoenix-office-tower">Newmark</a> brokered the transaction. The firm has been active in the Phoenix metro market, having also arranged the 2024 sale of 90 Mountain View I, a 91,082-square-foot Class A medical office project in Scottsdale at 9977 North 90th Street, for $11 million.</p> <p>The all-cash structure and California origin of the buyer point to continued out-of-state institutional interest in downtown Phoenix office inventory. Principals behind the acquiring entity have not yet been disclosed in public records.</p>
Sources
Every factual claim in this article traces to one of the sources below. See how we work for the editorial process.
- AZ Big Media retrieved 07/10/2026 17:41
- realestatedaily-news.com retrieved 07/10/2026 17:41
- ABC15 Arizona retrieved 07/10/2026 17:41
- Phoenix Business Journal retrieved 07/10/2026 17:41
- nmrk.com retrieved 07/10/2026 17:41
Authored by The Scottsdale Signal. Drafted by AI from primary-source material under our beat-specific editorial guides; reviewed by humans before publish under our five-gate process. Sources retrieved at 07/10/2026 17:41. Every claim traces to a source.
