Phoenix Camelback Corridor Classic Sells for $61.8 Million

The classic Camelback Center on the Camelback Corridor sold for $61.8 million. The 236,553 square foot, nine-story building received a significant renovation in 2021. Camelback Center is 82% leased to a mix of tenants from various industries such as healthcare, finance, technology and insurance.

The seller was Nuveen Real Estate the buyer, Bridge Investment Group. “The quality of the asset really stood out within the submarket,” said Ines Olesen of Nuveen Real Estate. 

Positioned on a 1.67-acre site at the main-and-main intersection of 24th St. and Camelback Rd., Camelback Center is within walking distance of two of the most notable retail centers in Metro Phoenix, the Shops at Town & Country and Biltmore Fashion Park.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ben Geelan and Senior Director Will Mast. The group also found the buyer.