Phoenix Corporate Center

The Phoenix Corporate Tower (formerly known as First Federal Savings Building) is a 26-story high-rise office building in Phoenix, Arizona. It was built in 1965 and designed in the International Style. The tower was built two miles north of Downtown Phoenix in the Central Corridor. At that time corporate investment turned ist attention away from downtown. When the tower was complete it was the tallest building in Phoenix taking that distinction away from the Meridian Bank Tower. It remained the tallest building for six years until the Wells Fargo Plaza was completed in 1971.

History

When Phoenix Corporate Center was originally built all north and south facing windows had balconies. There were seven columns stretching from the ground floor to the top where they formed a series of arches. Each column visually attached to ist neighboring column. There was also a glass elevator on the western elevation, which served the top floor.

In 1990, San Francisco-based development firm The Krausz Companies, Inc. Purchased what was then called "Prudential Plaza," and undertook an ambitious repositioning of the near-vacant office tower. Balconies were removed, and glass was reinstalled flush with the slab edge, substantially expanding the leasable interior space on each floor. Additionally, several vertical columns on the north and south facades were removed, giving the building a smoother more modern appearance. The skylift elevator is no longer functional.

In June 2013, the property was scheduled for foreclosure. The mortgage secured by the property was purchased by Colony Capital in 2013. The building was in receivership with Trident Pacific Real Estate and Colony closed on the building towards the end of the year. Colony has made significant upgrades to the property, including: renovating the lobby, painting the exterior, and building a marketing center.

Text imported from Wikipedia article "Phoenix Corporate Center" and modified on July 23, 2019 according to the CC-BY-SA 4.0 International license.