Search
 

Biltmore Commerce Trades for $42M

PHOENIX-Partners DPC Development and Bridge Investment Group acquire the 260,000-square-foot office building from another partnership consisting of BlackRock Realty Advisors and Muller Co.

By Amy Wolff Sorter | Updated on August 27, 2013

PHOENIX-Business Real Estate Weekly of Arizona reports that DPC Development Co. (Greenwood, CO) has joined forces with Murray, UT-based Bridge Investment Group Partners to acquire the 259,745-square-foot Biltmore Commerce Center. The partners paid $42.7 million to Muller-Tower Biltmore LLC for the 74% leased office building.

The seller, a joint venture between Muller Co. of Laguna Hills, CA and BlackRock Realty Advisors Inc. in Newport Beach, CA, has acquired the asset at 3200 E. Camelback Rd. in late 2005 for $58.8 million. At the time, GlobeSt.com reported that the partnership planned to keep the asset long-term, and it was 100% occupied.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.