Colliers International in Greater Phoenix recently negotiated the sale of a 92,233 square-foot Class B office building located at 3333 E. Camelback Road in Phoenix for $12 million, or $130/square foot.
Fenway Properties of San Diego acquired the property. Fenway plans to upgrade the common areas and develop new, spec suites to accommodate tenants of various square footage requirements.
The seller was Noffsinger Manufacturing Company of Greely, Colo.
Todd Noel, senior vice president; Keith Lambeth, senior vice president; and Ryan Timpani, senior associate; served as the Colliers International in Greater Phoenix brokers for both parties.
“The office building represents a strong investment for Fenway due to the building’s strategic location within the prestigious Camelback Corridor submarket, quality construction and timeless finishes,” Noel said.
Built in 1984, the two-story building comprises multiple suites ranging from 1,214 to 17,930 square feet.