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January 31, 2018  

Hines Tees Up Phoenix Building

Hines is pitching a Phoenix office building to core investors.The 302,000-square-foot property, in the strong Camelback Corridor submarket, has an estimated value of $350/sf, or $105 million. The capitalization rate at that price is unclear, but similar properties have been commanding initial yields of about 6%. CBRE has the listing.The eight-story building, at 2375 East Camelback Road, is 94% occupied. The tenants include law firm Greenberg...

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