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The Monroe 111 W Monroe St
256,682 SF 63% Leased 4-Star Office Building Phoenix, AZ 85003 For Sale
Investment Highlights
- Highly amenitized, transit-oriented location
- Ideal smaller sized rectangular floor plates
- Attractive basis below replacement cost and below peak pricing
- Seller financing available
- Recently completed extensive capital improvement program
- Potential for Federal and State historic building tax incentives
Executive Summary
Originally constructed in 1964 and substantially renovated in 2018/2019, the Property is a well-located 256,682 SF, 24% occupied institutional-quality office tower with a subterranean parking garage in the heart of downtown Phoenix. This opportunity presents new ownership with a few different strategies to add tremendous value with an asset in an irreplaceable location. The opportunity exists to curate a diverse and complementary office tenant mix by leasing up the vacant suites in an already highly amenitized and renovated office tower. Another opportunity is to take advantage of the ideal size and shape of the floorplates, ±14,719 RSF, and the current building vacancy to convert the existing office, hotel, or mixed-use project. New ownership can capitalize on the demand for residential in the downtown area or the lack of nicer hotel options and may be able to recognize Federal and local tax credits to help offset repositioning costs.
Property Facts
Amenities
- Banking
- Controlled Access
- Conferencing Facility
- Fitness Centre
- Property Manager on Site
- Restaurant
- Security System
- Bicycle Storage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 4th Fl-Ste 400
- 1,885 SF
- Office
- -
- Now
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
Spec Suite
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
Spec Suite
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
| Space | Size | Space Use | Condition | Available |
| 4th Fl-Ste 400 | 1,885 SF | Office | - | Now |
| 4th Fl-Ste 410 | 1,466 SF | Office | Partial Build-Out | Now |
| 4th Fl-Ste 425 | 1,597 SF | Office | - | Now |
| 6th Fl-Ste 603 | 2,192 SF | Office | - | Now |
| 6th Fl-Ste 604 | 2,407 SF | Office | - | Now |
| 7th Fl-Ste 700 | 2,114 SF | Office | - | Now |
| 7th Fl-Ste 702 | 1,271 SF | Office | - | Now |
| 7th Fl-Ste 704 | 2,059 SF | Office | - | Now |
| 7th Fl-Ste 706 | 2,200 SF | Office | Spec Suite | Now |
| 7th Fl-Ste 716 | 1,279 SF | Office | - | Now |
| 7th Fl-Ste 720 | 1,636 SF | Office | Full Build-Out | Now |
| 9th Fl-Ste 920 | 7,501 SF | Office | Shell Space | Now |
| 10th Fl-Ste 1000 | 14,895 SF | Office | - | Now |
| 11th Fl-Ste 1101 | 1,261 SF | Office | Partial Build-Out | Now |
| 11th Fl-Ste 1105 | 1,857 SF | Office | - | Now |
| 11th Fl-Ste 1122 | 1,669 SF | Office | Partial Build-Out | Now |
| 12th Fl-Ste 1218 | 2,048 SF | Office | - | Now |
| 12th Fl-Ste 1220 | 1,517 SF | Office | - | Now |
| 14th Fl-Ste 1400 | 14,719 SF | Office | - | Now |
| 15th Fl-Ste 1500 | 14,719 SF | Office | - | Now |
| 16th Fl-Ste 1600 | 14,719 SF | Office | Partial Build-Out | Now |
4th Fl-Ste 400
| Size |
| 1,885 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 410
| Size |
| 1,466 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 425
| Size |
| 1,597 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 603
| Size |
| 2,192 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 604
| Size |
| 2,407 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 700
| Size |
| 2,114 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 702
| Size |
| 1,271 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 704
| Size |
| 2,059 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 706
| Size |
| 2,200 SF |
| Space Use |
| Office |
| Condition |
| Spec Suite |
| Available |
| Now |
7th Fl-Ste 716
| Size |
| 1,279 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 720
| Size |
| 1,636 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
9th Fl-Ste 920
| Size |
| 7,501 SF |
| Space Use |
| Office |
| Condition |
| Shell Space |
| Available |
| Now |
10th Fl-Ste 1000
| Size |
| 14,895 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
11th Fl-Ste 1101
| Size |
| 1,261 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
11th Fl-Ste 1105
| Size |
| 1,857 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
11th Fl-Ste 1122
| Size |
| 1,669 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
12th Fl-Ste 1218
| Size |
| 2,048 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
12th Fl-Ste 1220
| Size |
| 1,517 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
14th Fl-Ste 1400
| Size |
| 14,719 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
15th Fl-Ste 1500
| Size |
| 14,719 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
16th Fl-Ste 1600
| Size |
| 14,719 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 410
| Size | 1,466 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
4th Fl-Ste 425
| Size | 1,597 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
6th Fl-Ste 603
| Size | 2,192 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
6th Fl-Ste 604
| Size | 2,407 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Spec Suite
7th Fl-Ste 700
| Size | 2,114 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
7th Fl-Ste 702
| Size | 1,271 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
7th Fl-Ste 704
| Size | 2,059 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
7th Fl-Ste 706
| Size | 2,200 SF |
| Space Use | Office |
| Condition | Spec Suite |
| Available | Now |
Spec Suite
7th Fl-Ste 716
| Size | 1,279 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
7th Fl-Ste 720
| Size | 1,636 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
9th Fl-Ste 920
| Size | 7,501 SF |
| Space Use | Office |
| Condition | Shell Space |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
10th Fl-Ste 1000
| Size | 14,895 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
11th Fl-Ste 1101
| Size | 1,261 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
11th Fl-Ste 1105
| Size | 1,857 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
11th Fl-Ste 1122
| Size | 1,669 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
12th Fl-Ste 1218
| Size | 2,048 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
12th Fl-Ste 1220
| Size | 1,517 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
14th Fl-Ste 1400
| Size | 14,719 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
15th Fl-Ste 1500
| Size | 14,719 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
16th Fl-Ste 1600
| Size | 14,719 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building
PROPERTY TAXES
| Parcel Number | 112-21-050H | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £2,643,211 |
PROPERTY TAXES
Presented by
The Monroe | 111 W Monroe St
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