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|Call for Offers||2022-05-06|
Jones Lang LaSalle, Inc. (“JLL”), as exclusive advisor, is pleased to present this offering for Camelback Center (the “Property”), a 236,553 square foot, Class-A office asset located off the prestigious intersection of 24th Street and Camelback Road. Currently 81.9% leased, the asset provides investors with a unique combination of stable in-place cash flows, credit tenancy, mark-to-market upside potential, and the opportunity to acquire a prominent Camelback Corridor asset at a significant discount to replacement cost.
Since 2009 more than $25.1 million of capital has been invested into Camelback Center, including
a new building cafe and patio, lobby modernizations, renovated common areas, restrooms, amenity spaces, and modern tenant improvement packages, which has served as a catalyst for the recent leasing velocity. In addition, the asset further benefits from being adjacent to both The Shops at Town & Country and Biltmore Fashion Park, proximity to executive housing in North Central, Paradise Valley, and Arcadia, the recent influx of new multifamily development, and the continually evolving retail dynamics along Camelback Road.
- Stable Income Stream
- Unparalleled access to Phoenix's top amenities
- Ideal on-site amenities
- High barriers to entry
- Significant discount to replacement