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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.
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- ◦Financing
- ◦Sale/Acquisition