The land is in the Camelback Esplanade development, at thesoutheast corner of 24th Street and Camelback Road. Opus West,which recently completed construction of the fourth office towerinside the development, plans to begin building its fifth and finaltower on the parcel later this year.
Many local brokers consider Camelback Esplanade the heart of theCamelback Corridor, a fast-growing submarket that already boaststhe highest rents in metropolitan Phoenix. At the start of thethird quarter, the asking rent along the Camelback Corridor forclass A space was $27.21 psf, about $3.50 higher than the Valley'soverall average.
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