High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Phoenix & Southwest  + Office  | 

Largest Phoenix Multi-Tenant Office Trades for $104M

The $103.5 million sale and $80.76 million financing for Anchor Centre, a 333,014-square-foot, Class-A office asset, marks the largest multi-tenant Phoenix office to trade in 13 months. The previous office transaction was the JLL-brokered sale of Biltmore Center in December 2019.

JLL Capital Markets once again brokered this transaction, representing the seller, KBS, and procuring the buyer, TerraCap Management LLC. Additionally, JLL placed the floating-rate acquisition loan through a financing subsidiary of Colony Credit Real Estate Inc.

The JLL Capital Markets team representing the seller was led by Ben Geelan, Michael Leggett and Brian Ackerman. Financing efforts were led by JLL Capital Markets’ Kevin MacKenzie and Jason Carlos.

Anchor Centre is located at 2201 and 2231 East Camelback Rd. with a “Main and Main” location adjacent to the intersection of 24th Street and Camelback Road. The asset is positioned between two of the most notable retail centers on Camelback Road, The Shops at Town & Country and Biltmore Fashion Park.

For comments, questions or concerns, please contact Lisa Brown

Connect

Inside The Story

Connect With JLL's Geelan

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition