camelback corridor Archives

CBRE completes $66.4M sale of Camelback Commons

by in AZRE Magazine | Brokerage | Office

CBRE Group, Inc. has completed the sale of Camelback Commons, a ±322,406-square-foot office campus located at 4722 and 4742 N. 24th St. in Phoenix. The two building, Class A office property commanded a sale price of $66.4 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, a joint venture between California‐based… Read More →

Growing Kansas-based law firm signs lease at Esplanade

Cushman & Wakefield announced that Spencer Fane has leased 8,502 square feet at Esplanade, located at 2425 E. Camelback Road in Phoenix. The tenant signed an 18-month full-service gross lease for $38.00 per square foot from LBA Realty. The 11-story, 235,077-square-foot office building is phase one within the mixed-use Camelback Esplanade, located at the southeast… Read More →

Lincoln buys 2777 Camelback for $24.65M

2777 Camelback
by in AZRE Magazine | Office

The Class A Camelback Corridor office property, 2777 Camelback, has been purchased for $24.65 million by Lincoln Property Company, according to a Friday announcement. The 104,618-square-foot building is located at 28th Street and Camelback Road, in a section of the Camelback Corridor undergoing a wave of new development. Chris Toci of Cushman & Wakefield served as the investment sales… Read More →

Design-build team picked for Camelback Collective redevelopment

by in AZRE Magazine | Mixed-Use

The design-build construction of the recently purchased redevelopment site at 28th Street and Camelback Road, dubbed Camelback Collective, will be led by Graycor Construction Company, according to an announcement from the developers. The redevelopment between 29th and 29th Streets on Camelback Road will feature a 120-square-foot mid-rise Class A office building and a 160-room AC by… Read More →

JLL gets 3131 and 3133 Camelback listing assignment

JLL
by in AZRE Magazine | Brokerage

The Phoenix office of JLL has been assigned the listing assignment for 3131 and 3133 Camelback, a two-building office property at the southwest corner of Camelback Road and 32nd Street. JLL will represent the building on behalf of TR Camelback Corp., and JLL Senior Managing Director Dennis Desmond and Managing Director Lynn LaChapelle represent the company. The team launched the property for… Read More →

Trends redefine core assets in the Valley

CityScape
by in AZRE Magazine

While some criteria for classifying a building as a core asset a decade ago still remain, changing trends in the market and tenant demands are recalibrating the way we think about core assets in the Valley. Property value, land scarcity and an institutional component originally drove market demand for core assets. The same is true… Read More →

Construction starts on uptown Phoenix luxury apartments

Phoenix rents multifamily
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

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

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

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

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 →