Developer restores historic Phoenix building, prepares to add high-rise

Article originally posted on AZ Central on April 24, 2026

A Colorado-based developer has completed renovations at a century-old building in the downtown Phoenix warehouse district as it gears up to develop an adjacent high-rise project.

One West Madison, previously called the Pratt-Gilbert building, was constructed in 1913 and was previously used by Maricopa County for courts. When developer Aardex bought it, the building still had a holding cell in the basement, said Caleb Hebel, principal at Aardex.

The company has been restoring the building, removing rock walls that had covered the windows and updating systems to prepare it for an adaptive reuse. Brokers Teale Bloom and Courtney Auther Van Loo are working to find tenants to take space in the building, likely restaurants, entertainment, or creative office.

The building totals 27,000 square feet, including a large basement. Hebel said the building could be divided to lease to multiple restaurants, or a large user could take the whole thing. The basement provides an option for an underground speakeasy, cigar lounge or event venue. The first level of the building could add an outdoor patio along Central Avenue.