Working on behalf of City Office REIT, Inc., the transaction is the first closing in the sale of their Phoenix portfolio
News release
02 September 2025
JLL closes $266M sale of six office assets in Phoenix
PHOENIX, Sept. 2, 2025 – JLL Capital Markets announced today that it has closed the $266 million sale of six Class A office assets totaling 1.247 million square feet in Phoenix, Arizona.
JLL represented City Office REIT, Inc. (NYSE: CIO) in the sale of the properties to Southwest Value Partners. The transaction is the first closing in the sale of City Office REIT, Inc’s. Phoenix portfolio, which also includes Pima Center that is expected to close at a later date, subject to the company obtaining certain approvals related to the property's ground lease.
The portfolio consisted of the following six properties located throughout the Phoenix metropolitan area:
The properties have strategic locations near Sky Harbor International Airport, executive housing and major Phoenix thoroughfares, including Interstate 10.
JLL’s Capital Markets team representing the seller was led by Senior Managing Director Ben Geelan, Managing Director Will Mast and Senior Director Charlie von Arentschildt, with advisory services provided by JLL Senior Managing Directors Sher Hafeez and Michael Leggett, Director Dan Freese and Associate Josh Lieberman.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.