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1661 East Camelback Road Ph...

Larry Jackel's Fenway Capital Advisors Signs Office Lease With Kimley-Horn At Camelback Arboleda In Phoenix, AZ
LEASEDOffice

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

Larry Jackel

Fenway Capital Advisors

Broker

$200M

vol

2 deals

Broker
Larry Jackel

Larry Jackel

Landlord

$200M

vol

2 deals

Landlord
FA
Fenway Capital AdvisorLandlord
K
Kimley-HornTenant

Phoenix Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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