A 19-story office building, located at 111 W. Monroe St. in downtown Phoenix, is currently listed for $24 million. This development spans approximately 256,682 square feet, with about 31% of its space currently occupied by tenants in the banking and health services sector. The building resides within an Opportunity Zone, offering a spectrum of potential uses for prospective owners to explore. While the downtown office sector has been in a state of transition, other sectors like multifamily and retail have seen significant growth. It’s anticipated that office sales will pick up in the second quarter of 2024 after a slower start to the year.
Source: https://www.bizjournals.com/phoenix/news/2024/04/30/monroe-tower-market-selling-phoenix.html
