Arizona Commerce Authority Relocating Headquarters to Bank of America Tower

PHOENIX, ARIZ. (July 27, 2026) — The Arizona Commerce Authority is relocating its headquarters to the Bank of America Tower at 201 E. Washington Street in downtown Phoenix.

The state’s business recruitment and economic development agency will occupy more than 40,000 square feet on the tower’s 17th and 18th floors. The new headquarters is approximately 5,000 square feet larger than the ACA’s current office at 100 N. Seventh Avenue, where its lease expires July 31.

The relocation is expected to be completed by August 3, according to an ACA spokesperson.

The 17th floor will include a conference center, training areas and collaborative workspaces, while the 18th floor will serve as the primary location for the agency’s statewide operations. The ACA will temporarily occupy space on the building’s ninth floor while renovations are completed.

According to the agency, the location was selected following a competitive and comprehensive evaluation that considered proximity to the Arizona State Capitol, parking availability, long-term operational needs and affordability relative to comparable properties.

The move has also prompted a lawsuit from the owner of another downtown Phoenix property considered during the agency’s search.

Eric Stenson, CEO of Phoenix-based financial advisory and accounting firm Stenson Tamaddon, alleges that the ACA failed to follow the proper request-for-proposals process and selected a substantially more expensive property.

Stenson owns 200 E. Van Buren Street, the former headquarters of The Arizona Republic. The newspaper previously occupied approximately 100,000 square feet in the building before relocating to Park Central last year.

According to the lawsuit, Stenson prepared concept plans for the property that included a conference center and other improvements intended to meet the ACA’s space requirements.

He is seeking an injunction to halt the lease at 201 E. Washington Street and is requesting detailed documentation related to the procurement and evaluation process.

The ACA has denied the allegations.

“The ACA followed all applicable policies and procedures in conducting a competitive, thorough search and evaluation of potential office locations,” the agency said in a statement. “We are fully confident in the integrity of our process and the decision reached.”

Scott Baumgarten, a CBRE broker who represented Bank of America Tower owner UPSO Phoenix, said the ownership group invested more than $10 million in improvements to the building’s common areas.

Baumgarten said the upgrades were designed to attract tenants such as the ACA that can incorporate the building’s shared amenities into their daily operations.