{"id":13131,"date":"2025-02-26T07:44:29","date_gmt":"2025-02-26T12:44:29","guid":{"rendered":"https:\/\/thewebelves.net\/sample3\/?page_id=13131"},"modified":"2025-02-27T10:01:10","modified_gmt":"2025-02-27T15:01:10","slug":"phoenix","status":"publish","type":"page","link":"https:\/\/thewebelves.net\/sample3\/properties\/phoenix\/","title":{"rendered":"Phoenix"},"content":{"rendered":"
\n24th at Camelback<\/a>\n
\u290a Tap & click arrows to page Forward & Back<\/strong><\/div>\n<\/div>\n
Download PDF file \u00bb<\/em><\/a><\/div>\n

THE OPPORTUNITY<\/h2>\n

Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 24th at Camelback I (the \u201cProperty\u201d), a trophy quality, \u00b1308,481 SF, 8-story office tower, located at the \u201cMain & Main\u201d intersection of 24th Street and Camelback Road, in the heart of Phoenix\u2019s prestigious Camelback Corridor office submarket.<\/p>\n

Developed in 2000 by Hines, the Property has been institutionally maintained since being delivered to the market. With its sleek, contemporary architecture and coveted prime location, 24th at Camelback I is the tlabeled Property offers a wealth of amenities that help to attract and retain institutional-quality tenants. With a 5.8-year WALT, the 74%-leased Property combines consistent cash flow from a diversified tenant roster with the opportunity to continue recent leasing momentum and capture the embedded \u00b114% mark-to-market potential, all while being offered below replacement cost.<\/p>\n

STRUCTURED AND SUBTERRANEAN PARKING<\/h3>\n

The Property is afforded a separate shared 6-level parking structure (along with two subterranean levels of parking) providing an overall parking ratio of \u00b13.7 per 1,000 SF, which is superior to the majority of competition within the Camelback Corridor.<\/p>\n

SHIGHLY AMENITIZED PROPERTY<\/h3>\n

On-site amenities are a major draw for existing and future tenants. These include Scramble Breakfast & Lunch Joint, a newly constructed high-end fitness center with lockers, showers and towel service, shared tenant conference facility, 24\/7 security, onsite property management, and a shaded courtyard.<\/p>\n

IRREPLACEABLE LOCATION<\/h2>\n

HIGH BARRIERS TO ENTRY<\/h3>\n

24th at Camelback I is located at the southwest corner of 24th Street and Camelback Road\u2014the heart of the
\nprestigious and affluent Camelback Corridor. This is the foremost intersection for business in Arizona and attracts
\ntenants in fields such as technology, real estate, finance, legal, insurance and consulting, among many others.<\/p>\n

SUPERIOR CAMELBACK CORRIDOR SUBMARKET FUNDAMENTALS<\/h3>\n

The submarket is regarded as one of Metro Phoenix\u2019s core locations and the focal point for office real estate across
\nthe Metro Phoenix market. Comprised of \u00b16.8M SF, the submarket has been one of the top performing office
\nsubmarkets since the inception of the pandemic and throughout the recovery.<\/p>\n

CAMELBACK CORRIDOR CLASS A RENTS ON THE RISE<\/h3>\n

The premier Class A buildings within the Camelback Corridor, including 24th at Camelback I, are currently experiencing
\na rental rate renaissance, with top of market lease rates consistently being achieved at levels never before seen within
\nthe submarket, including several recent leases signed in the Corridor above $50 PSF (full-service gross).<\/p>\n

\n

UNMATCHED ACCESS TO TRANSPORTATION<\/h3>\n

Less than a mile west, the State Route 51 Freeway provides immediate access to all Valley freeways. The location offers easy access to residential housing and the labor markets of Phoenix, Scottsdale, Tempe, and the entire East Valley. Sky Harbor International Airport, one of the top ten busiest airports in the country, is located within 5 miles or a short 10-minute drive of the Property.<\/p>\n

AMENITY RICH & AFFLUENT CENTRAL LOCATION<\/h3>\n

Within a 3-mile radius of 24th at Camelback I there is a daytime population over 195,000 people and average household incomes exceeding $107,000. The property is also surrounded by an abundance of amenities including 37 restaurants\/bars, 7 hotels\/ resorts, and is a 10-minute drive to Scottsdale Fashion Square, a 2 million square-foot mall with over 225 retail shops, restaurants, and entertainment options.<\/p>\n

WALKABLE FIRST-CLASS AMENITIES<\/h3>\n

The Property offers a \u201cWalkScore\u201d of 66, which is one of the highest in the Camelback Corridor and is ideally located in proximity to a host of high-end retail, restaurant, and hospitality amenities including Biltmore Fashion Park, The Biltmore Resort, Town and Country Shopping Center, and the Camby Hotel, among many others!<\/p>\n","protected":false},"excerpt":{"rendered":"

\u290a Tap & click arrows to page Forward & Back Download PDF file \u00bb THE OPPORTUNITY Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 24th at Camelback I (the \u201cProperty\u201d), a trophy quality, \u00b1308,481 SF, 8-story office tower, located at the \u201cMain & Main\u201d intersection of …<\/p>\n","protected":false},"author":2,"featured_media":13130,"parent":12842,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"full-width-content","footnotes":""},"class_list":{"0":"post-13131","1":"page","2":"type-page","3":"status-publish","4":"has-post-thumbnail","6":"entry"},"_links":{"self":[{"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/pages\/13131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/comments?post=13131"}],"version-history":[{"count":67,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/pages\/13131\/revisions"}],"predecessor-version":[{"id":13234,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/pages\/13131\/revisions\/13234"}],"up":[{"embeddable":true,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/pages\/12842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/media\/13130"}],"wp:attachment":[{"href":"https:\/\/thewebelves.net\/sample3\/wp-json\/wp\/v2\/media?parent=13131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}