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Towering Above: Making A Statement In Downtown Scottsdale

 

 

A landmark in Downtown Scottsdale since 1972, imagine the view from this 11-story, Class A high-rise, formerly known as the Camelview Office Building at 6900 E. Camelback Rd.

With its new designation of Camelback Tower, this exclusive property, connected to Scottsdale Fashion Square, has recently been reinvigorated, attracting new tenants to make a distinctive statement towering above Scottsdale.

In its original day, this property featured the 11th floor as a 6,600 SF penthouse complete with pool often used for social gatherings and offering the best views in all of Scottsdale. When the building was eventually connected to Scottsdale Fashion Square, it enticed tenants to work and shop from the same location.

A remodel in 1997 allowed the property to retain and attract new tenants for almost 10 years. At which point, a once thriving and sought after location, suffered from the loss of tenants and deferred maintenance with the downturn of the real estate market in 2006/2007.

When West Coast Capital Partners acquired the building out of foreclosure in August 2011, occupancy was hovering around 40% with repair and maintenance vital to bring it back to life.

Within a year, a major transformation took place and according to Trisha A. Talbot, CCIM, Senior Vice President of GPE Commercial Advisors who has the leasing assignment along with Kathleen M. Morgan, CCIM, “Camelback Tower is a prominent location for businesses that want to be at the hub of economic growth in the Phoenix area for the long-term.”

Added Greg Leverton of GPE Management Services, who serves as the property and construction manager for this project: “This once exciting and vibrant building has been reborn and has risen like the mystical Phoenix.”

Today, this property is approaching 80% occupy with several new tenants ready to tower above downtown. Major tenant improvements and building remodeling include new elevators, upgrades to the HVAC and electrical systems and contemporary modern finishes.

This along with all new landscaping and valet parking has returned this building to an exciting and functional part of downtown Scottsdale. New tenants such as Searsucker restaurant, Dermatique, LTD, SMI Imaging, LLC, and others now call Camelback Tower home.

For more information on this revitalized Scottsdale building, please contact GPE commercial advisors or GPE Management Services at (480) 994-8155.

 

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Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.