LPC sells offices in Phoenix for $72m
Lincoln Property Company’s Southwest division, LPC Desert West (LPC), has sold the offices located at 3131 and 3133 Camelback in Phoenix to an entity of Presson Corp., for $72.1 million.
Located at the southwest corner of 32nd Street and Camelback Road, in the Camelback Corridor, the project boasts the highest average occupancy rate of any office building in the history of the Phoenix metropolitan area.
The project spans 295,401 square feet in two adjacent class-A, multi-story office buildings. This includes 3131 Camelback, offering 196,332 square feet in four stories, and 3133 Camelback, totaling 99,069 square feet in three stories, along with an on-site parking garage.
The buildings sit minutes from State Route 51 and Interstate 10, and within walking distance to a selection of high-end dining, retail and luxury housing. They are a short drive to Biltmore Fashion Park, Arizona Biltmore Resort and Golf Club, and The Camby Hotel.
Owned and managed b