Phoenix Looks To Buy Wells Fargo Plaza Skyscraper

PHOENIX, AZ — The city of Phoenix is planning to purchase an office tower next to city hall to consolidate more city departments into office space and create efficiencies, officials announced Thursday.

The 27-story Wells Fargo Plaza, located at 100 W. Washington St., is just east of Phoenix City Hall. If purchased, the building would house multiple city departments now spread out in various locations in the downtown area, city officials said.

The city would purchase the 525,000 square feet of office space for approximately $46.5 million. Purchase costs would be offset by the sale or lease of surplus city property, according to the city.

Among the first city employees to move into the new location would be 911 operators who are currently housed in two different locations, including the basement of the police headquarters at 620 W. Washington.

The purchase would address aging infrastructure and avoid a minimum of $50 million in needed renovations at that location.

“It's not often in the real estate world that an opportunity comes along that is ideal in terms of location and needs while also making smart financial sense," City Manager Ed Zuercher said. “This building shares a campus with Phoenix City Hall on the same block as the Phoenix Municipal Court and the Calvin Goode Building. The new office tower will allow us to further bring city employees and the services they provide to a single location in money saving consolidation move so those dollars can be used for other community needs."

The deal must still be approved by the Phoenix City Council. The council will vote on the proposal at the July 1 meeting.

Last year, Wells Fargo & Co. permanently closed its museums in Phoenix and 10 other cities. Wells Fargo Plaza in Phoenix opened as the First National Bank Plaza on Oct. 25, 1971 and was later known as the First Interstate Bank building. The Wells Fargo History Museum sat on the first floor of the high-rise skyscraper.

One museum still remains open, and it is at the bank's San Francisco headquarters.