Camelback East Shops
24,711 sq. ft. retail strip center located in Phoenix, AZ, acquired by MDC
through co-investment with private clients in an off-market transaction.
MDC provides investment and property management services for this asset.
The Camelback Corridor is a bustling area developed with numerous low- to mid-rise Class “A” office buildings, luxury retail centers and several world and business-class hotels, including Arizona’s first Five Diamond resort, the 643-room Phoenician.
The property is located at the busy intersection of East Camelback Road and 32nd Street, which sees over 71,000 vehicles per day. The site is bookended by two world class retail properties along Camelback Road (Biltmore Fashion Park and Scottsdale Fashion Square) that total over 2.6 million square feet of luxury retailers.
The property serves the highly affluent residential neighborhoods of Arcadia, Biltmore, Scottsdale, and Paradise Valley, as well as the Camelback office/employment submarket, which consists of over 7 million square feet of office space. Additionally, the trade area includes over 2,000 hotel rooms at five different world class hotel/resorts and is located within an area that is known for fine dining, which compliments the property’s tenancy.
Camelback East Shops is located within the central portion of the greater Phoenix metropolitan area known as the Camelback Corridor. The Corridor is roughly four miles north and two miles east of the downtown central business district (CBD) of Phoenix and is approximately five miles west of downtown Scottsdale.