Koelbel & Co. and GJ Partners acquired the 115,000 square foot Camelback Collective office building for $48.25 million. Humphreys Capital was the seller. Humphreys purchased the building in 2022 for $66.35 million.
The Phoenix Business Journal reports that Holualoa Cos. and LaPour Partners Inc. delivered the four-story building at 2801 E. Camelback Road in 2018 for $80 million. The two firms purchased the 3.6-acre property for $17.5 million in 2016.
A JLL Capital Markets team consisting of Will Mast, Ben Geelan, Charlie von Arentschildt, Jack Miler and Gigi Martin represented the seller.
The adjacent 160-room AC Hotel, which is located at 2811 E. Camelback Road, is not part of this transaction as it was sold separately in 2022 for $67.8 million.
Denver-based Koelbel specializes in commercial and residential projects primarily in the Denver metro with a few developments in Texas, Kentucky and Georgia.
The post Camelback Collective Trades for $48.25M appeared first on Connect CRE.
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