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Case-Study---210-East-Earll
Experience » Commercial » Specialty Projects » 210 East Earll

210 East Earll

Phoenix, Arizona
In September 2011, Irgens purchased the former Southwestern Regional Headquarters for the Internal Revenue Service for $6,500,000. The project is a six-story, 158,249 SF office and five-story parking structure built for the IRS in 1992. Prior to closing, the project had been vacant for two years and had recently gone into default with Commercial Mortgage-Backed Securities.

Irgens took ownership in September 2011 and devised a refurbishment plan to bring the classic building up to current market standards. Before Irgens could start the refurbishment, Irgens was approached by a Cable One, a national communications provider, to purchase the building for its new headquarters. Irgens and Cable One negotiated a deal for $12,000,000 and Irgens managed the building refurbishment and ongoing property management for Cable One. The transaction closed in October 2012 and Cable One moved into their new building in spring 2013.