Phoenix LEED Office Building Sells for $55M

Wilshire Capital Partners buys 3900 Camelback Center class-A, LEED-Gold Certified office building located in the Camelback Corridor, for $54.5 million from Ryan Cos. The property is one of the most prestigious and sought-after office submarkets in Phoenix, Arizona, and is one of four LEED Gold level or above.

The property totals 177,520 square feet. The office asset was one of the newest office buildings in the Camelback Corridor submarket to sell this year, achieving an attractive price per square foot of $306.44.

NKF co-head of U.S. capital markets Kevin Shannon, executive managing directors Paul Jones, Ken White and Brunson Howard and senior managing director Rick Stumm cooperated with executive managing director CJ Osbrink to represent the seller in the deal. NKF vice chairman David Milestone and senior managing director Brett Green facilitated in the financial structuring and placement of debt for the sale.