Phoenix Newspaper Headquarters Sells for $38M

The ViaWest Group acquired the Arizona Republic’s headquarters in the city’s central business district. Current tenants, all affiliates or spinoffs of Gannett, will remain at the property.
Arizona Republic Headquarters

Gannett, the parent company of the Arizona Republic, has sold the newspaper’s 250,000-square-foot headquarters building in Phoenix for $37.7 million, according to Yardi Matrix. The transaction marks yet another acquisition for ViaWest Group, which teamed up with Taconic Capital to purchase a 250,000-square-foot office asset in the metro in early 2018.

Located at 200 E. Van Buren St. in Phoenix’s central business district, the 10-story building is situated within two blocks of Arizona State University’s downtown campus and the Phoenix Convention Center. Per Yardi Matrix data, nearly 6.3 million square feet of Class A office space falls within half a mile of the property. A wide variety of hospitality and retail properties are in the immediate area as well, and Sky Harbor International Airport is a 3.5-mile drive to the east.

The building was constructed in 1995 to be the Arizona Republic’s headquarters. All of the building’s other tenants—including KPNX 12 News, G/O Digital and azcentral—are owned by either Gannett or TEGNA, a media company spun off from Gannett in 2015. The tenants will remain in the building under their leases, according to azcentral.

Image courtesy of Yardi Matrix