Warehouse 215 - Grant Street Assemblage 215 E Grant St

Extremely rare opportunity to acquire over 138,000 square feet of land with massive mixed-use development potential in the heart of the
increasingly popular Warehouse District in Downtown Phoenix. The site also includes a one-of-a-kind vintage brick warehouse building that currently operates as one of the premier event spaces in the entire Phoenix area.
The Downtown Warehouse Zoning district makes this property perfectly situated for a one of a kind mixed-use development with easy
walkability, public transportation, and proximity to entertainment hubs.
The Grant Street Assemblage sits within six blocks of both the Footprint Center (Home of the NBA Phoenix Suns / WNBA Mercury and many concerts and events) and Chase Field (Home of the MLB Arizona Diamondbacks). The Arizona State University Downtown Campus is a short bike ride away with over 10,000 students and growing rapidly. The Phoenix Convention Center is less than a 10-minute walk along with the core business hub of Downtown Phoenix as well as the State of Arizona and City of Phoenix municipal buildings / courthouses. The new ownership group for the Suns and Mercury have invested over $130M in acquiring and developing the parcels diagonally adjacent to the site where over 300+ employees currently work daily.
Downtown Phoenix has exploded with new restaurants, bars, and entertainment options over the past decades and all of those amenities
are within a short distance of the Grant Street Assemblage.
The assemblage includes three separate parcels, which are all contiguous:
1. Warehouse Lot (#1): Includes 27k+ square foot historical warehouse building on 48k square foot lot
2. Back of House Lot (#2): Almost 55k square foot lot with 4,800 square foot building
3. Vacant Lot (#3): 35k square foot lot
The property’s zoning allows for unlimited density and a variety of uses including multifamily, hospitality, commercial, retail and more.
The current zoning has a height allowance of 80 feet but two of the warehouse buildings have a conservation easement being placed on
them and as a result the allowable height has been increased up to 120 feet, which is a substantial benefit to the development potential.
Multiple yield studies were done by a local architecture firm that shows multifamily projects ranging from 200 - 500+ units. The assemblage resides in a Qualified Opportunity Zone which has the potential to provide substantial tax savings benefits to all the investors.
The property is currently occupied by two tenants, Warehouse 215 and M-Culinary. Warehouse 215 is owned by the sellers of this assemblage and they are open to signing a long-term lease prior to the close of escrow, thus providing income while potential future developments are planned / approved. M-Culinary has an existing lease and details can be provided.