Esplanade III, a 222,820-square-foot trophy office building on 2415 E. Camelback Road, sold for $86 million. The 10-story building was acquired by Southwest Value Partners, a joint venture made up of Transwestern and C-III Capital Partners.
JLL brokers Ben Geelan, Will Mast and Charlie von Arentschildt represented the seller.
The Phoenix Business Journal reports the Transwestern partnership acquired the office building in July 2019 for $60.2 million in an all-cash deal, according to Maricopa County records.
The building is currently 83.4% leased with a weighted average unexpired lease term of 4.4 years. Vestar, Vanguard Realty Advisors, Barclay Group, Velocity Retail Group, Husch Blackwell, Pederson Group, Inc. and Velocity Retail Group are among the tenants at Esplanade III.
