Trinity Capital has signed a long-term lease at 333 Tower, a Class A office tower at 333 N. Central Ave. in downtown Phoenix for 75,000 square feet of space. The company will take over the property’s top two-and-a-half floors and secure rights to building-top signage. Foundation 8 owns the building. Newmark brokered the agreement.
The building used to just have one tenant, Freeport-McMoRan, until the company move out. Since the move the building owner, Foundation 8, has transformed the office portion of the tower into a multi-tenant arrangement. The office portion of the tower is on top of the Westin Phoenix Downtown, a 242-room upscale hotel. Last month, Foundation 8 closed a $44.5 million loan secured by the office component.
Foundation 8’s plans for the property’s next phase include a rooftop restaurant and bar, a ground-floor coffee shop and café, and a dedicated conference center.
Newmark’s Brett Abramson, Chris Latvaaho and Chris Beall represented Foundation 8 in the transaction. Chris Nord and Nikki Tate of Cushman & Wakefield represented Trinity Capital.
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