Chase Tower (Phoenix)
| Chase Tower Phoenix | |
|---|---|
 The Chase Tower in 2022 | |
 | |
| General information | |
| Status | Completed |
| Location | 201 North Central Avenue Phoenix, Arizona |
| Coordinates | 33°27′03″N 112°04′23″W / 33.4509°N 112.0731°W |
| Completed | 1972 |
| Owner | Wentworth Property Company |
| Height | |
| Roof | 483 ft (147 m) |
| Technical details | |
| Floor count | 40 |
| Floor area | 668,159 sq ft (62,074.0 m2) |
| Design and construction | |
| Architect(s) | Welton Becket and Associates Guirey, Srnka, Arnold, & Sprinkle (associate) |
| Developer | Valley National Bank |
| Main contractor | Henry C. Beck Company |
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The Chase Tower (formerly known as Valley Center and Bank One Center) in Phoenix, Arizona, is the tallest building in the state of Arizona. Built in 1972, it is 483 feet (147 m) tall.[1] It was originally built for local financial heavyweight Valley National Bank, with which Bank One merged in 1993. Bank One merged with Chase in 2005, and the building was renamed in December 2005. It is 40 stories tall, but the highest occupiable floor is the 38th. At one time there was a public observation area on the 39th floor in the Chase Tower, but it was closed during redevelopment and construction on the upper floors.
The tower takes up an entire city block. The footprint is similar to a 3 leaf clover and its stem. The stem is the narrow elevator core on the southern facade. It has a rough, concrete texture and is the tallest portion of the tower. The remaining exterior is a glass panel curtain wall. The west leaf, or wing, stands at 34 floors, followed by the north wing at 38 floors, and the east wing at 36 floors. Unlike many traditional skyscrapers with zero-setback retail/lobby space on the ground floor, access to the tower is through an underground restaurant/retail concourse set a comparatively large distance away from the bordering streets.
The building was designed by the prominent Los Angeles architectural firm Welton Becket and Associates (now Ellerbe Becket), with local associate architects Guirey, Srnka, Arnold & Sprinkle. It was built by the Henry C. Beck Company (now The Beck Group).[2] Upon completion, the tower marked the beginning of a renewed investment in downtown Phoenix that would last for almost twenty years until the savings and loan crisis brought about the 1989 real estate crash. Located at 201 North Central Avenue, the tower was renovated in 2003 to accommodate 800 additional Bank One employees.
In March 2007, CRZ Phoenix, LLC, an affiliate of Crystal River Capital, acquired the property for $166.9 million, the highest price paid for an office building in Phoenix.[3][4] The owners took out a $198.5 million loan on the property in 2007, on which it subsequently defaulted.
In May 2018, a partnership managed by Wentworth Property Company acquired the building out of foreclosure for $79 million, less than half of its 2007 sale price.[4] Less than six months later, Vincent Viola purchased the building for $107.5 million.[5]
As of July 2021, Chase is in the process of vacating the building as most employees have been transferred to Chase's new corporate campus in (east suburban) Tempe. The last employees are expected to transition to the new location by September 30, 2021. At that point, the building will stand empty. No future plans for the tower have been announced.[6] As of November 1, 2021, the Chase sign atop the building has been removed.
The building was featured in the History Channel series, Life After People.
See also
References
- ^ "Chase Tower". 42Floors.com. Retrieved March 17, 2015.
- ^ "AJ-1973-10.pdf" (PDF).
- ^ "Form 8-K, Crystal River Capital". Edgar, Securities and Exchange Commission. February 16, 2007.
- ^ a b Schumacher, Rob (May 7, 2018). "Chase Tower, Arizona's tallest building, sells in foreclosure deal for $79 million". The Arizona Republic. Retrieved May 30, 2018.
- ^ Vanek, Corina (October 26, 2018). "Florida sports team owner buys Arizona's tallest building". Phoenix Business Journal.
- ^ Valencia, Peter (July 21, 2021). "Chase to vacate Phoenix tower this fall, no future plans for skyscraper yet". AZFamily. Retrieved August 6, 2021.
External links
- http://www.chase.com
- http://www.coppersquare.com
- Phoenix Architecture 1895 thru 2010: Video celebrating Phoenix Architecture
