Friday, March 10, 2006
Commercial real estate is also humming in Scottsdale, Ariz. A two building complex on the Camelback Corridor was purchased by a California concern.
A two-building office complex in the Camelback Corridor has changed hands for $94.5 million.
KBS Realty Advisors of Newport Beach, Calif., purchased the office complex, called 3131 and 3133 East Camelback Road, from an investment client represented by Lowe Enterprises Investors, a national real estate investment, development and management company based in Los Angeles.
The property consists of a four-story building with 196,823 square feet and a three-story building with 99,594 square feet. The smaller building is occupied by Charles Schwab and Co.
The deal was brokered for the buyer and the seller by Dennis Desmond and Trevor Klinkhamer, both senior vice presidents at Trammell Crow Co.'s Phoenix office.