Larry Jackel's Fenway Capital Advisors Signs Office Lease With Kimley-Horn At Camelback Arboleda In Phoenix, AZ
1661 East Camelback Road Phoenix, AZ 85016, USA
$31
$31/SF
Building Size
78,700 SF
Asset Type
Office
Closing
Aug 23, 2023
AI
Kimley-Horn, a leading design consulting firm, has signed a lease for a 78,700-square-foot office space at Camelback Arboleda in Phoenix, Arizona. The office complex, owned by Larry Jackel of Fenway Capital Advisors, spans a total of 178,800 square feet. The rental agreement was facilitated by JLL, representing the landlord, and Savills, acting as the tenant's representative.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease
- Address: 1661 East Camelback Road, Phoenix, AZ
- Market: Phoenix, AZ
- Landlord: Larry Jackel - Fenway Capital Advisors
- Tenant: Kimley-Horn
- Landlord's Representative: JLL
- Tenant's Representative: Savills
- Asking Rent: $31/ft
- Square Footage: 78,700
This lease agreement marks a significant commitment by Kimley-Horn to expand its operations in Phoenix. With this new office space, the company will have ample room to accommodate its growing team and serve its clients in the region. Camelback Arboleda's central location and modern amenities make it an ideal choice for Kimley-Horn's business needs. This transaction reflects the steady growth and demand for office spaces in Phoenix's thriving market.
Players
Phoenix Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
511709.68%
Cash-on-Cash
-146248.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93