Biltmore Commerce Center in Phoenix, AZ: Sold for $58M – Same price as in 2005



[GBP Note: Upon doing some research it was found that the Biltmore Commerce Center recently sold for almost the same price as it did in 2006.  See below for brief sales history.  The recent upgrades by Denver-based DPC Development Co. certainly will add value for the tenants.]

Biltmore Commerce Center

3200 E. Camelback Rd., Phoenix, AZ 85018
258,348 Sq. Ft. Office Building

Sales History:

Date Seller Buyer Price Reference
Apr. 2015 A joint venture between DPC Development Company and Bridge Investment Group Lincoln Property Company (LPC) and funds managed by Oaktree Capital Management $58M http://www.bizjournals.com/phoenix/news/2015/04/20/exclusive-phoenixclass-a-office-building-sells-for.html
Aug. 2013 The Muller Company A joint venture between DPC Development Company and Bridge Investment Group $42.77M http://www.bizjournals.com/phoenix/news/2013/10/18/biltmore-commerce-center-preps-for-big.html
Dec. 2005 Teacher’s Insurance and Annuity Association of New York The Muller Company  $58.5M http://www.costar.com/News/Article/Muller-Buys-Biltmore-Commerce-Center-for-$585M/74662

 

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