Phoenix\u2019s Camelback Corridor<\/a>. Senior Managing Director Dennis Desmond and Managing Director Lynn LaChapelle led the deal on behalf of the seller, TR Camelback Corp., which disposed of the asset for $81.8 million. Archon Acquisition LLC, a Goldman Sachs company, purchased the 295,401-square-foot property. Cushman and Wakefield\u2019s Managing Director Trevor Klinkhamer, Senior Vice President Ray Harris and Director Scott Boardman led the property leasing team.<\/p>\nPotential for Rental Rate Growth<\/h2>\n
Located at 3131 and 3133 E. Camelback Road, the properties offer controlled access and a total of 1,400 parking stalls. The garden-style buildings are situated at the southwest nexus of 32nd<\/sup> Street and Camelback Road, in one of the most sought-after areas in the Phoenix market. Additionally, the assets are within walking distance from numerous urban amenities, including 11 dining options, a grocery-anchored center and three banks. Since the properties came on the market in 1988, they have registered an average 93 percent occupancy rate.<\/p>\n\u201cExceptional location, quality construction and easy access has kept 3131 and 3133 Camelback a true \u2018trophy\u2019 office complex for more than 19 years. Archon recognized the past success and future potential of the property, including the strong rental rate growth that the Camelback Corridor is expected to continue to experience over the next five years<\/em>,\u201d Desmond said in prepared remarks.<\/p>\nLincoln Property Co. will continue to serve as the property manager, while JLL\u2019s Managing Director John Bonnell, Senior Vice President Brett Abramson and Vice President Chris Latvaaho will take over the property\u2019s leasing assignment.<\/p>\n
Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"JLL worked on behalf of TR Camelback Corp. to secure the sale of two office buildings in the heart of the Camelback Corridor. Goldman Sachs\u2019s subsidiary Archon Acquisition purchased both properties. <\/p>\n","protected":false},"author":1055,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1601,15],"tags":[32799,33435,32796,32838,36214],"class_list":["post-1004180802","post","type-post","status-publish","format-standard","hentry","category-deals","category-latest","category-office","category-phoenix","category-west","tag-cushman-wakefield","tag-goldman-sachs","tag-jll","tag-lincoln-property-company","tag-tr-camelback-corporation"],"acf":[],"yoast_head":"\n
Phoenix Offices Trade for $82M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Offices Trade for $82M\" \/>\n<meta property=\"og:description\" content=\"JLL worked on behalf of TR Camelback Corp. to secure the sale of two office buildings in the heart of the Camelback Corridor. Goldman Sachs\u2019s subsidiary Archon Acquisition purchased both properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-19T06:27:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T16:11:47+00:00\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/\",\"name\":\"Phoenix Offices Trade for $82M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2017-06-19T06:27:54+00:00\",\"dateModified\":\"2022-12-08T16:11:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix Offices Trade for $82M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99\",\"name\":\"Evelina Croitoru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g\",\"caption\":\"Evelina Croitoru\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/evelinacroitoru\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix Offices Trade for $82M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix Offices Trade for $82M","og_description":"JLL worked on behalf of TR Camelback Corp. to secure the sale of two office buildings in the heart of the Camelback Corridor. Goldman Sachs\u2019s subsidiary Archon Acquisition purchased both properties.","og_url":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-06-19T06:27:54+00:00","article_modified_time":"2022-12-08T16:11:47+00:00","author":"Evelina Croitoru","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/","url":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/","name":"Phoenix Offices Trade for $82M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2017-06-19T06:27:54+00:00","dateModified":"2022-12-08T16:11:47+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-offices-trade-for-82m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phoenix Offices Trade for $82M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99","name":"Evelina Croitoru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g","caption":"Evelina Croitoru"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/evelinacroitoru\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004180802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1055"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004180802"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004180802\/revisions"}],"predecessor-version":[{"id":1004180931,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004180802\/revisions\/1004180931"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004180802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004180802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004180802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}