AGENDA_SECURITBUILDINGSALE_FINAL.PDF

Requester:  Alex Smith 
Meeting Type:  Formal 
Target Meeting Date:  12/11/2024 
Ownership Group/Department:  Real Estate 
Target Section Level 1:  County Offices and Departments 
Target Section Level 2:  Real Estate 
C Number if an Amendment (next in sequence):  C-78- 
 
Purchase and Sale Agreement and Escrow Instructions Between Maricopa County and The Industrial 
Development Authority of the City of Phoenix 
 
Action Requested:  
 
Approve and execute a Purchase and Sale Agreement and Escrow Instructions for the transfer of real property 
located at 222 and 234 North Central Avenue, Phoenix, AZ 85004 between Maricopa County (“Seller”) and the 
Industrial Development Authority of the City of Phoenix (“Buyer”). The purchase price to be paid by Buyer for the 
Property shall be established pursuant to a mutually agreed upon appraised value within the range of thirteen 
million dollars ($13,000,000) and twenty-one million dollars ($21,000,000). The County Manager is authorized to 
sign amendments to the Purchase and Sale Agreement and Escrow Instructions that established the agreed upon 
purchase price within the approved price range.  
 
This agenda item requires unanimous consent of the Board of Supervisors. 
 
This action takes place in Supervisory District 5. 
 
Additional Information: 
 
Close of escrow shall be seven hundred thirty (730) days following the contract date with the option of one ninety 
(90) day extension by County. If the Buyer investigations or the due diligence documents are not acceptable to Buyer, 
in Buyer’s sole discretion, or if for any other reason or no reason (in Buyer’s sole discretion) Buyer determines not 
to proceed, Buyer may deliver written notice to terminating this Agreement to Seller and Escrow Agent on or before 
the end of the Due Diligence Period. 
 
Financial Impact: NO 
 
Agenda Item Attachments: 
 
Purchase and Sale Agreement and Escrow Instructions