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Fenway Ends Hold on 173,000-SF Camelwest Plaza

PHOENIX-Following a six-year hold on the class B office buildings, the San Diego seller disposes of the asset to a Newport Beach, CA buyer for $13 million.

By Amy Wolff Sorter | Updated on September 03, 2013

PHOENIX-Fenway Properties LLC has disposed of the 174,554-square-foot, two-building Camelwest Plaza, selling the asset to a Newport Beach, CA buyer operating under the entity name 1128 Valencia Associates LLC (advised by Apex Commercial Advisory). Fenway Properties, based in San Diego, ended its five-year hold of the office buildings with the $13.5 million transaction.

Camelwest Plaza is at 1951 and 2001 W. Camelback Rd. on close to 5 acres near the METRO Light Rail Station. At the time of sale, the property was 79% occupied. Executive vice president Eric Wichterman and senior vice president Mike Coover, with Cassidy Turley, along with Todd Noel of Colliers, negotiated the transaction for both the buyer and the seller.

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