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Camelback Esplanade Towers IV & V Sell for $155M

Metropolitan Life Buys 436,000 SF in Office Space From GE Asset Management
By David Whitmore
October 13, 2005 | 1:14 P.M.

Metropolitan Life Insurance Co. acquired Towers IV and V of Camelback Esplanade for $155 million, or approximately $356 per square foot. The buyer owns four of the five towers after purchasing Towers I and II earlier this year for $162.5 million. Towers IV and V were 100% occupied at time of sale. Major tenants include UBS PaineWebber, Merrill Lynch & Co. Inc., Washington Mutual and Sierra Pacific Mortgage.

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