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$6.8 Mil Flips Office Building on Fringe of Phoenix's Hottest Submarket

PHOENIX-Investment firm picks up 107,100-sf asset.

By D.J. Burrough | Updated on September 27, 2000

PHOENIX-A local real estate investment company has purchased a 107,100-sf office building along Camelback Road for $6.8 million. Phoenix-based Camelback Plaza West LLC purchased Camelback Plaza, an office building at the corner of 19th Avenue and Camelback Road here. The building is west of the Camelback Corridor, which runs from 16th Street to 44th Street and is the hottest area for office development and leasing.

The seller of the building was Charles E. Lakin Enterprises of Omaha, NE. The Phoenix office of Insignia/ESG represented the seller, and the Phoenix office of Revcor Inc. acted for the buyer.

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