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Article: Another Phoenix, Ariz., Landmark High Rise Has Been Sold.(Originated from The Arizona Republic)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 18, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jun. 18--Another Central Avenue landmark has been sold, marking the 13th high-rise building along the main Phoenix artery to change hands in two years.
Scottsdale Investment Management and Starwood Capital Group of Greenwich, Conn., paid $40 million earlier this month for the Phelps Dodge Tower at 2600 N. Central Ave.
The 21-floor tower, which covers 318,000 square feet, is almost 95 percent full, and Phelps Dodge Corp. is its biggest tenant, filling almost one-third of the building.
But the copper mining giant is considering leaving the building when its lease is up in three years.
The building's sellers -- CS First ...