News Summary

U-Haul Holding Company has acquired the 20 E. Thomas Road skyscraper in Midtown Phoenix for $23.7 million, renaming it The U-Haul Tower. This purchase will serve as U-Haul’s new headquarters, relocating its workforce within 24 months. The 25-floor building will also continue to host existing tenants, supporting U-Haul’s strategy to consolidate operations and enhance efficiency. This significant acquisition marks U-Haul’s commitment to Phoenix and its ongoing growth in the region.

U-Haul Acquires Phoenix’s 3rd Tallest Skyscraper for New Headquarters

PHOENIX – U-Haul Holding Company has made headlines by acquiring the 20 E. Thomas Road skyscraper in Midtown Phoenix for $23.7 million. This notable purchase, finalized on December 6, 2024, will see the building, previously recognized as the CenturyLink Tower, being renamed The U-Haul Tower.

The U-Haul Tower, which boasts 25 floors and covers 548,938 square feet, will primarily act as the new headquarters for U-Haul International along with several subsidiary companies. This significant move is part of U-Haul’s long-term strategy to streamline its operations by transitioning its workforce from the current headquarters located at 2727 N. Central Ave. to the newly acquired skyscraper within the next 24 months.

Currently, U-Haul employs approximately 1,600 staff at its Midtown campus, contributing to a total workforce of over 34,000 employees across North America. The strategic acquisition fits into U-Haul’s overarching goal of consolidating its regional operations, which will enhance efficiency by bringing multiple teams together in a single location.

Operational Dynamics

Despite becoming U-Haul’s new headquarters, The U-Haul Tower will continue to accommodate the existing tenants who occupy about 15% of its total space. These tenants include various engineering and consulting firms, ensuring that the building remains a mixed-use facility even after U-Haul’s relocation.

The acquisition is notable not only for its scale but also as one of the largest owner-occupier office sales in the United States since the onset of the COVID-19 pandemic. This trend aligns with a broader movement in the commercial real estate sector, referred to as a “flight to quality,” indicating a preference for high-quality office environments among companies during this transitional phase in the workplace landscape.

U-Haul’s History and Growth

This purchase is significant because it marks U-Haul’s enduring presence in Phoenix, a footprint that dates back 57 years when the company moved its headquarters from Portland, Oregon, to Phoenix in 1967. The choice of The U-Haul Tower as a new base echoes U-Haul’s commitment to the city and its ongoing growth pattern.

In addition to providing a centralized location for personnel, the new headquarters will be strategically situated near several local amenities, such as a conference center and an Embassy Suites hotel. This proximity is expected to benefit employees and enhance overall workplace satisfaction.

U-Haul’s Extensive Network

U-Haul maintains a significant presence across the continent with over 23,000 locations in the United States and Canada. The company offers more than 1 million self-storage units, reinforcing its position as a key player in the moving and storage industry. This latest acquisition is seen as a reaffirmation of U-Haul’s commitment to providing high-quality services and environments for both employees and customers.

In summary, the acquisition of The U-Haul Tower not only solidifies U-Haul’s operational base in Phoenix but also highlights the company’s strategic focus on enhancing efficiency and providing a high-quality working environment for its employees. As U-Haul prepares for this significant transition, it continues to drive its long-standing legacy and vision within the commercial real estate landscape.

Deeper Dive: News & Info About This Topic

HERE Resources

Additional Resources

• Business Wire: U-Haul Purchases Phoenix’s 3rd Tallest Skyscraper
• ABC15: U-Haul Buys Midtown Phoenix Tower
• AZ Big Media: U-Haul Buys Third Largest Office Building
• Wikipedia: U-Haul
• Google Search: U-Haul headquarters Phoenix