Underscores success of company’s strategic management process
PHOENIX, ARIZONA – Lincoln Property Company (LPC) has been selected as the exclusive property manager for 3131 and 3133 Camelback, a two-building, Class A office property located at 3131 and 3133 E. Camelback Rd., in the heart of Phoenix’s prestigious Camelback Corridor. The assignment comes on the heels of the property’s June 2017 sale to 3131 Camelback Road Holdings LLC, a Goldman Sachs company.
3131 and 3133 Camelback sit at the southwest corner of 32nd Street and Camelback Road. The two-building, 295,401-square-foot asset joins an existing LPC management portfolio totaling approximately 6 million square feet of office, industrial and retail space in locations across the Valley.
“Our Phoenix management assignments include a long list of well-known and well-located Class A office assets just like 3131 and 3133,” said Lincoln Property Company Executive Vice President David Krumwiede. “These buildings are market leaders, and we maintain their prominence with a management strategy that is tailored to this market, reflecting the latest amenities and efficiencies that companies here expect from a premier office environment and management team.”
LPC’s approach at 3131 and 3133 combines property improvements and amenities ranging from an on-site coffee bar to the creation of a collaborative outdoor lounge area (with Wednesday food trucks), new state-of-the-art conference center in the 3131 building and upgraded lobbies with contemporary new furnishings.
Improvements at 3131 and 3133 Camelback are part of approximately $6 million in renovation activity that LPC kicked off in 2016 at major office properties across the Valley. The buildings are also part of a 2.8 million-square-foot, LPC-managed office property management portfolio that recently earned Energy Star Certification by the U.S. Environmental Protection Agency (EPA). As Energy Star certified, these buildings use an average 35 percent less energy than a typical building and release 35 percent less carbon dioxide into the atmosphere.
“Companies are growing and relocating to Phoenix in droves, and that keeps our office space in high demand,” said Lincoln Property Company Director of Real Estate John Orsak. “Lincoln’s management philosophy ensures that each of our buildings are positioned with the conveniences that keep companies – and their employees – efficient and happy, and that keeps us highly competitive in this space.”
With the advantages of location and amenities, 3131 and 3133 have maintained an average 93 percent occupancy since completed in 1998, with current tenants including Lincoln Property Company, JLL, Johnson Bank and HSAG. The project is minutes from State Route 51 and I-10, and is surrounded by numerous walkable amenities including 11 restaurants, three banks and a grocery-anchored shopping center.
To discuss investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.