Freeport-McMoRan downtown Phoenix office tower trades hands

Article originally posted on Phoenix Business Journal on January 6, 2026

A notable downtown Phoenix high-rise found a buyer just before the new year.

Foundation 333 LLC — an entity led by Izhak Ben Shabat and Kenneth Losch — acquired the office portion of downtown Phoenix’s 333 North Central building from Peakstone Realty Trust on Dec. 30, according to Maricopa County records. The 26-story high-rise, built in 2010 at 333 N. Central Ave., had been the longtime home of Freeport-McMoRan until the mining giant began moving out during the Covid-19 pandemic.

Now Freeport-McMoRan’s headquarters are in the Cotton Center business park in southeast Phoenix. Freeport put the 250,000 square-foot space up for sublease early last year, and it still has about a year left on its lease.

The portion of the property acquired by Foundation 333 includes the top eight floors, amounting to roughly 250,000 square-feet of office space. It also includes the first-floor retail space and parking rights. The lower half of the tower is occupied by the 242-room Westin Phoenix Downtown hotel, which is not included in the sale.

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