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| Camelcback Aarboleda, Camelback Corridor, Phoenix, AZ |
PHOENIX, AZ – JLL’s Capital
Markets experts have completed the $25.3 million sale of Camelback Arboleda,
a 178,792-square-foot, four-story office building in Phoenix’s prestigious
Camelback Corridor.
Solana Beach,
California-based Fenway Capital Advisors bought the property.
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| Brian Ackerman |
JLL’s Brian Ackerman and Dennis
Desmond represented the sellers, Minnetonka, Minnesota-based Merced Capital
and California-based Restart Investments.
“The buyer recognized the value of
this building’s irreplaceable location within the highly coveted Camelback
Corridor submarket, and the value-add potential that can be unlocked through
interior and exterior improvements,” said Ackerman.
“This was an outstanding investment in a
submarket that continues to attract high-quality tenants across a diverse array
of industries.”
Camelback Arboleda provides
unequaled freeway access to the Piestewa Freeway (SR 51) with an entrance just
to the south of the property.
Tenants also have
easy access to over 2 million square feet of retail amenities within a two-mile
radius. Immediate walkable amenities include the adjacent 107,000-square-foot
Camelback Marketplace featuring Starbucks, Chick-fil-A, McDonald’s, Subway,
Einstein Bros. Bagels, Yogis Grill and Zoës Kitchen.
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| Dennis Desmond |
JLL Capital Markets is a
full-service global provider of capital solutions for real estate investors and
occupiers. The firm’s in-depth local market and global investor knowledge
delivers the best-in-class solutions for clients — whether a sale, financing,
repositioning, advisory or recapitalization execution.
In 2017 alone, the
firm’s 2,400 Capital Markets specialists completed $170 billion in investment
sale and debt and equity transactions globally.
For more, please visit The
Investor, an online and mobile app news source
providing real-time commercial real estate news to asset buyers and sellers
around the world.
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