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Biltmore Lakes Building Brings $4M

PHOENIX-A Seattle investment group steps up for the fifth building in the Biltmore Lakes Corporate Center, bought a year ago for a piecemeal sale. The latest to go is a 22,776-sf structure with a 95% occupancy.

By Jackie Day | Updated on September 04, 2004

Jackie Day is editorial director of Real Estate Media’s Newsletter Division .

PHOENIX-A group of investors has acquired the fifth building in a complex, divvied for sale, along a sought-after stretch of East Camelback Road. The 22,776-sf structure, the second smallest in Biltmore Lakes Corporate Center, has brought $4.2 million.

Seattle-based Biltmore Lakes Associates LLC bought a 23-year-old building with a 95% occupancy. The buyer holds numerous apartment properties in the Phoenix area, but is venturing into the local office market for the first time with the Biltmore acquisition.

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