Cushman & Wakefield has sold Camelback Uptown, located at 51 and 101 E. Camelback Rd. in North Central Phoenix, for $1.78 million. The transaction includes a land lease and the retail improvements for a Bank of America branch and Sauce restaurant.
Cushman & Wakefield Senior Director Greg Valladao represented the buyer, 1058 Munras Properties, LP DBA Camelback Central Station, LLV of Monterey, CA. Chad Tiedeman of Phoenix Commercial Advisors represented the seller, Lawrence & Geyser Development DBA First Camelback Partners LLC.
“This investor will benefit from the incredible transformation of the Camelback and Central Avenue retail market,” said Mr. Valladao. “The recently opened Sauce restaurant on this site has attracted very strong traffic. Increasing pedestrian traffic from the light rail and growing customer interest in the neighborhood will insure a solid cash flow from this asset.”
