Regions Southwest | Phoenix
Aug 15, 2008
Ownership of Camelwest Plaza at 1951 and 2001 W. Camelback Rd. in Phoenix has changed hands in a deal valued at $9.5 million. San Diego-based Fenway Properties acquired the approximately 173,400-square-foot office complex from Koll Bren Fund V, an entity managed by Newport Beach, Calif.'s Koll Bren Schreiber Realty Advisors. Developed 22 years ago, Camelwest Plaza consists of two four-story office buildings and two three-story parking facilities on a five-acre parcel near the site of a light-rail station due to open next year. At the time of the trade, the property was 70 percent occupied. Real estate services firm Grubb & Ellis|BRE Commercial L.L.C., along with Lucescu Realty, represented the seller in the transaction, while the buyers represented themselves.
Ownership of Camelwest Plaza at 1951 and 2001 W. Camelback Rd. in Phoenix has changed hands in a deal valued at $9.5 million. San Diego-based Fenway Properties acquired the approximately 173,400-square-foot office complex from Koll Bren Fund V, an entity managed by Newport Beach, Calif.'s Koll Bren Schreiber Realty Advisors. Developed 22 years ago, Camelwest Plaza consists of two four-story office buildings and two three-story parking facilities on a five-acre parcel near the site of a light-rail station due to open next year. At the time of the trade, the property was 70 percent occupied. Real estate services firm Grubb & Ellis|BRE Commercial L.L.C., along with Lucescu Realty, represented the seller in the transaction, while the buyers represented themselves.
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