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Spectacular Views Help Seal $5M Biltmore Sale

PHOENIX-The buyer gets a first-floor office for an affiliate, two tenants and a view of Squaw Peak, the Wrigley Mansion and the Arizona Biltmore golf course, taking half-interest in an 86,000-sf building.

By Beverly Ford | Updated on February 25, 2003

PHOENIX-Overlooking Squaw Peak, the Wrigley Mansion and the golf course at the Arizona Biltmore, the views from 6225 N. 24th St. are priceless. But it wasn’t only the surrounding scenery that earned $5 million for the seller, 6225 Partners LLC, of a 42,000-sf, class office building. It was the value.

“The views are phenomenal from this property. It’s really irreplaceable.” Tom Adelson, with CB Richard Ellis Inc.’s Phoenix office tells Globe St.com “But, it was the price that really appealed to the buyer. There are virtually no buildings that a smaller user can buy in the Camelback area so they were able to get this at a good price–certainly less than replacement costs.”

For the money, buyer Univest-6225 LLC of Scottsdale got a half-interest in the 86,000-sf complex, which had been converted into office condominiums several years ago. The north side of the two- and three-level structure was sold to an architectural and engineering firm in October 2002 for about $5 million, Adelson said.

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