Phoenix-based Wetta Ventures acquires a 1967 vintage 12,100 square foot office building located one parcel west of the northwest corner of 20th Street and Camelback Road, with an address of 1940 E. Camelback Road. The property was purchased for $2,075,000 or $171 per square foot in a cash transaction. The seller, Caldwell and Ober Law Firm, had owned the property since 2003 and will remain a tenant in the building under a new lease. There were no brokers involved in the transaction.
Wetta Ventures is actively seeking well-located, infill properties in the Phoenix metro. Contact David Wetta at 602.478.3538 or Paul Salinas at 480.290.1502.
About Wetta Ventures and Recent Projects
Wetta Ventures was established by David Wetta in 2012 and is a real estate development, investment and advisory firm specializing in adaptive reuse, renovation and infill development.
Wetta Ventures recent projects include: the interior renovation of “Postmark”, a 1960’s era post office building that recently sold to an owner user. An adaptive reuse and new construction project in midtown Phoenix branded “Old School O7” that is fully leased. Another adaptive reuse project in Tempe done in partnership with Arizona State University that is currently under construction and fully leased with two restaurants opening in the Fall of 2014.