The 10-story, 222,000-square-foot Class A office building in the Camelback Corridor was purchased by Southwest Value Partners. The property sold for roughly 43% more than its 2019 purchase price.
What I find more interesting than the $86M price tag is where the money is going.
Office real estate has obviously faced plenty of challenges over the last few years. But investors are still putting significant capital behind high-quality assets in established locations. And Phoenix is showing signs of momentum.
Office leasing reached approximately 1.1 million square feet in Q2 2026, up from 924,000 square feet in Q1. The Camelback/Piestewa Peak submarket alone accounted for about 92,000 square feet of leasing activity.
The takeaway?
Location and quality still matter.
Even in a changing market, the best properties in the best locations continue to attract capital. That's something I think is worth watching—not just for commercial real estate, but for what it can tell us about the broader Phoenix market.
If you're considering buying, selling, or investing in Phoenix real estate and want to understand what's happening beyond the headlines, let's connect.
