Southwest Value Partners Acquires Esplanade III Office Building In Phoenix For $86 Million
2415 East Camelback Road
$86,000,000
$386/SF
Building Size
222,820 SF
Asset Type
Office
Closing
Aug 26, 2026
About this deal
AI
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.
On the Map
$86,000,000
$386/SF
Office
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Players
Charles City Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93