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6/17/19
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New York-based DRA Advisors LLC acquired Camelback Lakes, a 203.3k sf office property in Phoenix, for $47.5 mil ($234/sf). The four-building, multi-story complex is located at 2710, 2720, 2730, and 2850 E. Camelback Rd, in one of the most esteemed submarkets in Metro Phoenix.
Developed in 1983, the project includes a detached parking deck and is 85% occupied. It features a campus-like setting with over 900 feet of frontage and a lighted intersection along Phoenix Metro’s most well-known thoroughfare. Camelback Lakes offers unmatched views of Piestewa Peak and provides immediate access to some of the state’s premier shopping destinations, exclusive residential communities, resorts, and mixed-use developments
Chris Toci and Chad Littell of Cushman & Wakefield, along with the agency leasing team of Keith Lambeth, were involved in brokering this deal.
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