crefeed.com | Cushman & Wakefield negotiates $96M sale of Anchor Centre in Phoenix

2/28/2008

Cushman & Wakefield negotiates $96M sale of Anchor Centre in Phoenix

Anchor Centre

Denver, Colo.-based Alliance Commercial Partners has sold the Anchor Centre at Camelback Road in Phoenix, Ariz., for $96 million to Transwestern Investment Co.

Alliance acquired the building in 2005 for $70 million.

Jerry Jacobs, Chris Toci, Ted Harrison and Larry Downey of Cushman & Wakefield brokered the transaction.

The Anchor Centre is a two-building office development located at 2201 and 2231 E. Camelback Rd. in the Camelback Corridor. The buildings contain 337,000 square feet of Class A office space that are currently 89 percent occupied by tenants such as L. Roy Papp & Associates, Gainsco Inc. and Northwestern Mutual Life Insurance Co.

Transwestern plans to manage and lease the property. The firm made the investment on behalf of Aslan Realty Partners III, LLC, a fully-discretionary institutional equity fund with capital commitments of $800 million.

Address: 2201 & 2231 E. Camelback Rd., Phoenix, Ariz.

Size: 337,000 square feet

Built: 1984-86

Filed Under: Office

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