In the mid-2000’s, a lot of excitement surrounded downtown Phoenix. In separate transactions, PAULS was able to acquire two of the trophy properties in the Phoenix CBD. The combined operating efficiency of the properties had an immediately accretive effect on cash flow. In addition, pro-active re-leasing of major tenants and an extension of a property tax concession allowed PAULS to successfully sell the property before the market correction of 2008-2009.