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Parallel Capital Buys PHX Landmark


Parrallel Capital Partners has cast its eyes eastward for its latest office investment, picking up One North Central, a 20-story trophy office tower in Downtown Phoenix for $93.75M. In turn, Parallel will invest more than $1.5M in the 410k SF tower to upgrade the property's common areas, lobby and new spec suites. The tower is 95% leased with such tenants as Arizona Summit Law School; Ryley, Carlock and Applewhite; and the US Bureau of Land Management.