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The state’s tallest building sold this month for the highest price ever paid for an office building in metropolitan Phoenix.

Chase Tower at 201 N. Central Ave. sold for $166.93 million to Crystal River Capital, a New York real estate investment trust. It drew 16 offers.

“This signifies a couple of things,” said Bob Young of CB Richard Ellis and one of the brokers who represented the seller. “It shows the health of downtown as a vibrant market and how Phoenix has grown on the world stage for institutional investors.”

Brookfield Asset Management of Toronto was the seller. Brookfield and Crystal River are separate companies but Crystal River is managed by an affiliate of the seller. Chase will remain in the building.

The biggest Phoenix office deal was $155 million for two buildings in the Camelback Esplanade in 2005. The record for a single building sale was $107 million for the Hines building at 24th Street and Camelback Road.

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