Trophy office building 27 Camelback in Biltmore area sold
Jul 30, 2022, 2:00 PM | Updated: Jul 31, 2022, 8:24 am
(Twenty Seven Camelback)
(Twenty Seven Camelback)
PHOENIX — A trophy office building located on Camelback Road, Twenty Seven Camelback, has been sold according to Lincoln Property Company.
LPC Desert West, the southwest division of the Dallas-based property company, announced the sale of the 109,291 square-foot building located at 2777 E Camelback Road to Rosebud Properties.
Purchased in 2017, Lincoln Property Company immediately renovated the office building with an upgraded lobby, outdoor lounge, a brand new conference facility on top of improvements to landscaping, according to a press release.
The renovation also included Twenty Seven Camelback securing an Energy Star Certification by the U.S. Environmental Protection Agency, using an average of 35% less energy than a typical office building.
“This portion of the Camelback Corridor has enjoyed an extended period of renovation and new construction, which has even further cemented the long-term value of the Twenty Seven Camelback,” Lincoln Property Company vice president John Orsak said. “This has always been a very flexible building, able to accommodate a wide range of tenants in one of the Valley’s most sought after office corridors.”
Twenty Seven Camelback features touchless entries, 13-foot ceilings, modern open layouts and is surrounded by mountain views.
The office building is currently 87% occupied, including tenants such as UMB Bank, Abrazo Medical Group and Lavidge.
The reported price of the sale is $34 million, according to public records.
