Plans $52 million renovation of Biltmore Commerce Center in coveted live-work-play submarket
Phoenix-based developer George Oliver has purchased Biltmore Commerce Center, a landmark building in the heart of metro Phoenix’s coveted Camelback Corridor, for its latest office transformation. The acquisition marks George Oliver’s sixth experiential office project in the Valley in just over three years, continuing its vision of reimagining prime urban office assets with a high-touch design and an amenity package focused on the health and well-being of employees.
Biltmore Commerce Center is located at 3200 E. Camelback Road in Phoenix, on the northeast corner of Camelback Road and 32nd Street. It sits within one of metro Phoenix’s most popular office corridors, with prime access to a diverse labor pool, abundant housing and a market-leading hospitality and restaurant base.
George Oliver will deploy over $52 million in capital improvements at the 3200 building, reimagining the asset with its trademark experiential office approach and property-specific improvements reflecting the high-end demographics of the location. This includes flexible, open-planned workspaces finished with a refined material palette and infused with resort-style health-and-wellness amenities.
“Our goal is to deliver a George Oliver office project in each of metro Phoenix’s top office submarkets, and Camelback Corridor is on the top of that list,” said George Oliver Founder and Managing Partner Curt Kremer. “We are more than excited to establish a building on this prominent corner and to continue to deliver what we see as the market’s greatest requirement, which is flexible, well-amenitized, collaborative workplaces. Employers want their office settings to promote interaction and employee wellness. Our projects overachieve on that at every level.”
Delivered to market in 1985, Biltmore Commerce Center totals 260,878 square feet with three stories. Key features include a three-story central atrium, large floorplates, multiple common areas and outdoor amenity spaces, conference facilities, and a bronze-colored metal building exterior that serves as a striking identifier within the market. The building sits across the street from Biltmore Plaza shopping center, minutes from Biltmore Fashion Park and extensive dining options, and at the center of executive and new luxury multifamily housing options.
JLL Senior Directors Ben Geelan and Will Mast represented the sellers, a joint venture of Lincoln Property Company and Oaktree Capital Management.
“The office workforce has changed significantly over the past few years, and tenants are responding with a flight to quality as they work to entice employees back into the physical office space,” said Mast. “George Oliver’s vision for Biltmore Commerce Center aligns with those demands and will start a new chapter for one of Arizona’s premier office assets.”
The design and architecture for the 3200 building will be led by George Oliver Design. JLL Managing Director Ryan Timpani will serve as the project’s exclusive leasing broker. Arcadia Management Group will serve as the on-site property manager.
Biltmore Commerce Center adds to George Oliver’s notable portfolio of office transformations, including Arbor in downtown Tempe, CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Quad in South Scottsdale.
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