Southwest Value Partners Acquires Esplanade III Office Building In Phoenix For $86 Million

The transaction involved the sale of Esplanade III, a trophy office building located at 2415 East Camelback Road in Phoenix, AZ. The property spans 222,820 square feet and was sold for $86 million, resulting in a price per square foot of $386. The building is a 10-story structure that is currently 83.4% leased, with an average lease term of 4.4 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $86,000,000
• Square Footage: 222,820
• Address: 2415 East Camelback Road
• Market: Phoenix, AZ
• Price per Square Foot: $386
• Buyer: Southwest Value Partners
• Brokers: Ben Geelan, Will Mast & Charlie Von Arentschildt - JLL

Southwest Value Partners is a joint venture consisting of Transwestern and C-III Capital Partners. JLL's representatives for the seller in this transaction were Ben Geelan, Will Mast, and Charlie Von Arentschildt, who facilitated the sale of the property.