LPC, the Southwest division of Dallas-based Lincoln Property Company, purchased the 27 Camelback in 2017 and immediately renovated the building. They upgraded the lobby, new conference room, outdoor lounge and improved the landscaping. It upgraded the HVAC to a point where the building releases 35% less carbon dioxide.
“This portion of the Camelback Corridor has enjoyed an extended period of renovation and new construction…we’re confident it will perform well for its new owners as the office sector continues to rebound,” said LPC’s John Orsak.
Rosebud Properties bought the renowned Camelback Corridor office for $34 million. LPC will continue to manage the 109,291 square foot property. The property is currently 87% occupied by tenants such as UMB Bank, Abrazo Medical Group and Lavidge.
Barry Gabel and Chris Marchildon from CBRE represented LPC in the sale transaction.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.