camelback corridor Archives

Construction starts on uptown Phoenix luxury apartments

Peak 16 is located near the Camelback Corridor in uptown Phoenix. Construction started on the luxury apartments in November. (Photo courtesy of VanTrust Real Estate)
by in AZRE Magazine | Construction

Construction is underway on Peak 16, a luxury apartment community located on 16th and Colter Streets in uptown Phoenix, by Kansas City-based VanTrust Real Estate. Designed by Phoenix-based ORB Architecture, the four-story, wood-framed, podium deck development sits on nearly four acres and is planned to be finished in March 2018. Phoenix-based Wespac Construction Inc. is the general contractor… Read More →

Camelback Corridor office building sells for $42.6 million

Camelback Corridor
by in AZRE Magazine | Office

A Class A 175,835-square-foot office building in Phoenix’s Camelback Corridor area sold for $42.6 million, or approximately $242 per square foot, according to CBRE. The office complex is located at 5090 N. 40th St., and Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the transaction. The seller was a joint venture between Lowe Enterprises and J.P.… Read More →

Camelback Collective will be redeveloped at 28th and Camelback

camelback-collective
by in AZRE Magazine

A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of  Las Vegas-based developer LaPour Partners, Inc. and Holualoa Companies, headquartered… Read More →

Camelback Corridor redevelopment property sells for $17M

Camelback Collective rendering (Courtesy of CBRE)

Obsolete Office Project Slated for Redevelopment into High-end Mixed-use Project  A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of… Read More →

MJ Insurance relocates to larger Arizona office

MJ Insurance

MJ Insurance, one of the nation’s largest privately-held insurance agencies with more than five decades of success, is expanding its Arizona location to a larger, more expansive space allowing for future growth in a new, collaborative workplace. In mid-September, MJ Insurance is moving from its current Camelback Corridor location to 3900 E. Camelback Road, Suite… Read More →

Tech firm Zenreach signs lease for office in Phoenix

Biltmore Center
by in AZRE Magazine | Brokerage

Zenreach, a San Francisco-based technology company, will open its first major office outside of its headquarters at Biltmore Center, 2390 E. Camelback Rd.  The company plans to employ approximately 350 people at the Camelback Corridor office.  “This makes a major win for Phoenix and the Biltmore Center property,” says Ryan Timpani, Vice President with Colliers… Read More →

CBRE completes sale of $39M office project

park one
by in AZRE Magazine | Office

Velocis, a private equity real estate fund, purchased Park One, a three-building, multi-tenant, Class A office development totaling 205,000 square feet in the Camelback Corridor in metropolitan Phoenix. A team of brokers including Barry Gabel, Chris Marchildon, and Kevin Shannon represented the seller, a joint venture between California-based McCarthy Cook & Co. and New York-based… Read More →

KBS REIT III renews lease at Anchor Centre

Anchor Centre
by in AZRE Magazine | Brokerage | Office

KBS Real Estate Investment Trust III (“KBS REIT III”), a non-traded real estate investment trust based in Newport Beach, California, announced the renewal of a 16,194-square-foot lease by Northwestern Mutual, a financial planning company, at Anchor Centre. The Class A, two-building office complex totals 333,014 square feet and is located in Phoenix’s Camelback Corridor. Northwester Mutual’s… Read More →

Colliers International scores leasing rights for Biltmore Center

Biltmore Center

ViaWest Group selected Colliers International in Phoenix as the exclusive leasing agent for Biltmore Center, previously known as Biltmore Financial Center, a landmark Class-A office complex at the northwest corner of 24th Street and Camelback Road. “The new ownership of Biltmore Center has embraced the evolution of office tenancy and is activating an environment that… Read More →

$5M SkySong restaurants project breaks ground

SkySong
by in AZRE Magazine | Construction

Wetta Ventures broke ground last week on a $5 million, multiple-restaurant development at SkySong, The ASU Scottsdale Innovation Center with completion expected by the end of the year. Prominently located at the northeast corner of Scottsdale Road and SkySong Boulevard, the new 12,000 square-foot development is expected to include three to four restaurants, one of… Read More →

FirstBank continues Arizona growth with new branch

123rf.com: qvist

FirstBank Holding Company, a holding company with 17 banking locations throughout Arizona, announced the opening of its newest branch in Phoenix at 4925 N. 20th St., Phoenix, AZ 85016. The 4,200 square-foot location officially opened in late December, near 20th Street and Camelback Road, and replaces a nearby older local branch. Across Arizona, Colorado and California, FirstBank has more than 120 branches. To celebrate its opening, the public… Read More →

Marcus & Millichap sells CenPho multifamily portfolio

Marcus & Millichap
by in AZRE Magazine | Brokerage | Multi-Family

Commercial real estate investment firm, Marcus & Millichap (NYSE: MMI), announced the sale of its Lin Lor Portfolio, a 71-unit portfolio with four properties located in the Camelback Corridor and Biltmore area, for $5,112,000. Rich Butler and Brian Tranetzki, multifamily investment specialists in Marcus & Millichap’s Phoenix office had the exclusive listing and negotiated the… Read More →

Demand for Class A office space improves vacancy

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Cushman & Wakefield announced that the Metro Phoenix office vacancy dropped to 18.9% in the third quarter, largely due to demand for prestigious, Class A space. The metropolitan area has added nearly 45,000 jobs in the past 12 months with almost one-third of those being office sector jobs. Demand for office space led to the overall vacancy… Read More →

Colliers completes the sales of multifamily complex

123rf.com: Tim Wege

Colliers International in Greater Phoenix recently completed two sales for one buyer, Investment Property Associates (IPA) of Grand Haven, Mich. The buyer purchased the 395-unit Sienna Springs apartment complex for $20.5 million and the adjacent Willowick Square office building for $5.9 million, both in Phoenix. Both properties are located on the southwest corner of North… Read More →