Highlights

Southwest Value Partners paid $266 million for six Class A office assets totaling 1.247 million square feet across the Phoenix metropolitan area, with City Office REIT, Inc. (NYSE: CIO) as the seller. JLL Capital Markets brokered the transaction.

The six properties span multiple Phoenix-area submarkets. The largest is Block 23 in Downtown Phoenix at 307,000 square feet; SanTan in Chandler accounts for 267,000 square feet. The remaining four assets are distributed across the Phoenix metro, including properties near Sky Harbor International Airport and Interstate 10.

This transaction represents the first closing in City Office REIT's Phoenix portfolio sale. A seventh property, Pima Center, was not included; that closing is expected later, pending ground lease approvals.

The JLL Capital Markets team was led by Senior Managing Director Ben Geelan, Managing Director Will Mast, and Senior Director Charlie von Arentschildt.

Who is the buyer?

Southwest Value Partners acquired the six-property portfolio. The transaction is the first closing in City Office REIT's broader Phoenix exit, according to JLL's announcement. Southwest Value Partners' principals are not identified in the public-facing deal materials.

Pima Center's closing is expected once ground lease approvals are secured.

Sources

Every factual claim in this article traces to one of the sources below. See how we work for the editorial process.

  1. jll.com retrieved 09/05/2026 00:07
  2. AZ Big Media retrieved 09/05/2026 00:07

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 09/05/2026 00:07. Every claim traces to a source.