Phoenix Newspaper Headquarters Sells for $38M
- Jan 07, 2019
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