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11/04/24
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In what we’re told is the largest metro Phoenix office sale since 2022, 24th at Camelback II, a 306.9k sf, Class A office asset, traded hands in a deal sources say came in at just under $100 mil. The property was sold by Hines and acquired by Wide Open Excursions.
24th at Camelback II is located at the prestigious intersection of 24th St and Camelback Rd in the Camelback Corridor, Phoenix’s premier business district. The property is adjacent to two of the most notable retail centers on Camelback Rd, The Shops at Town & Country and Biltmore Fashion Park, and is within walking distance of numerous high-end shops, luxury residential, dining and entertainment options. Additionally, 24th at Camelback II is less than 10 miles from both downtown Phoenix and the Phoenix Sky Harbor International Airport.
The 11-story office building has won numerous industry awards, including The Building of the Year (Toby), USGBC Arizona Heavy Metals Award and is Energy Star and LEED Platinum certified. The tower was designed by Pickard Chilton.
Originally developed in 2009, the 87.2% leased tower features an impressive tenant roster including Blue Origin, Dorsey & Whitney, Mercer, Lucid and Squire Patton Boggs. Beginning in 2018, the seller made significant investments to elevate the property including an extensive lobby renovation, improvements to common areas, a state-of-the-art conference room, spec suites and modern tenant improvement packages that served as a catalyst for the building’s strong performance in the leasing market.
Will Mast, Ben Geelan, Jack Miler and Gigi Martin with JLL represented the seller in the deal.
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