Business Real Estate Weekly by Rose Law Group
Phoenix – An affiliate of KBS Realty Advisors in Newport Beach, Calif. (Peter Bren, Charles Schreiber, Jr., co-founders) paid $85.1 million ($252.57 per foot) to purchase the Anchor Centre office property located at the southeast corner of Camelback Road and 22nd Street in Phoenix. The 336,939-square-foot project was acquired by KBSIII Anchor Centre LLC, a company formed by KBS Real Estate Investment Trust III Inc. The REIT is externally advised by KBS Capital Advisors LLC, which is an affiliate of KBS Realty Advisors. The seller was AG/DWC Anchor Centre LLC, a joint venture formed by Angelo, Gordon & Co. LP in New York City, N.Y. (John Angelo, Michael Gordon, partners) and David Warren of DW Capital Partners LLC in Phoenix. The deal was brokered through Chris Toci of Cushman & Wakefield of Arizona Inc. in Phoenix, and Mike Beall and Chris Walker of Cassidy Turley in Phoenix. Anchor Centre is comprised of a 6-story, 200,576-square-foot structure at 2201 E. Camelback Road and a 4-story, 136,363-square-foot building at 2231 E. Camelback Road. Continued
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