KPHO Sells CBS Channel 5 Newsroom Studio - Former Home Of The Wallace And Ladmo Show

KPHO joining sister station Channel 3's location

Jul 31, 2015, 13:30 ET from Newmark Grubb Knight Frank

PHOENIX, July 31, 2015 /PRNewswire/ -- Newmark Grubb Knight Frank (NGKF) and Phoenix's first television studio, KPHO, announced the sale of its long-time station and studio at 4016 N. Black Canyon Highway. The unique space and former home of the Wallace and Ladmo show, encompassing 44,039 square feet on 3.96 acres, was sold for $1,925,000 or $43.71 per square foot to Treatment Assessment Screening Center, Inc. NGKF's Managing Directors Geoffrey Waldrom and Erik Marsh represented the seller in the transaction.

"Originally built for KPHO, the station is outfitted in a classic 1970s-era construction," commented Waldrom. "We understood the uniqueness of the retro build-out and the appeal of the asset's local history. The knack was to price it appropriately, gauge the desirability for the right user, and to provide diligent service during the marketing process, effectively conveying the asset's potential and value."

Treatment Assessment Screening Center, an interdisciplinary organization devoted to substance abuse and mental health assessment and treatment, purchased the building for $43.71 per square foot, coming very close to the evaluated asking price of $45.00 per square foot. The Non-profit will make its new home in the more than 44,000 square feet of office space while enjoying secure parking and immediate highway access and visibility.

Perhaps best known for its local children's television show, KPHO created The Wallace and Ladmo Show in 1955 to showcase afternoon cartoons. Beloved by local children – in particular, the two who grew up to eventually sell the television studio – the Wallace and Ladmo Show was one of the longest-running, daily, locally produced children's television shows in American broadcasting and a consistent local Emmy recipient until it went off the air in 1989. "We both attended the show as part of the live studio audience, me as a Cub Scout in the 80's," remarked Marsh, "In the same building we sold."

KPHO entered the Phoenix market in 1949, originally broadcasting three networks: ABC, NBC and Dumont. The station's first location was the iconic Westward Ho building on Central Avenue in Downtown Phoenix – where one can still see the original broadcasting tower, now used as a cell phone tower. KPHO moved to the southwest corner of Black Canyon Highway and Indian School Road in 1973. Today, KPHO has combined offices with KTVK-TV Channel 3, sharing efficiencies and synergies in a larger space.

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