Presson Corporation Acquires Camelback Office Buildings In Phoenix For $72.1M

The prominent 3131 and 3133 Camelback office buildings in Phoenix, Arizona have been sold for $72.1 million. The properties were sold by LPC Desert West, the Southwest division of Lincoln Property Company, to an entity of Presson Corporation. The buyer, led by local investor Daryl Burton, acquired the office buildings in this transaction.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $72,100,000
• Square footage: 295,401
• Price per square foot: $244
• Address: 3131 & 3133 East Camelback Road, Phoenix, AZ
• Market: Phoenix, AZ

The sale of the 3131 and 3133 Camelback office buildings marks a significant transaction in the Phoenix market. The buyer, Daryl Burton of Presson Corporation, led the acquisition of these properties. The transaction was facilitated by Barry Gabel, Charles J. Osbrink, and Chris Marchildon from Newmark, who served as the brokers representing both the buyer and the seller.