Midtown Phoenix Value-Add / Office Conversion 301 W Osborn Rd

301 West Osborn Road is a fantastic value-add / office conversion opportunity located in the heart of Midtown Phoenix. The property sits contiguous to the large Park Central development in midtown, home to Creighton University along with Class-A office space, retail, and restaurants. It is also walking distance to two light rail stations, the closest sitting out front of Park Central, less than two blocks away.
Park Central, contiguous to the property, combines its rich midcentury-modern history with a focus on technology, innovation, and design, including all the most sought-after features in today’s office and retail market. Park Central’s original design as an outdoor
regional mall provides a unique opportunity to utilize features that are attractive to today’s “new economy” office users. With a nod
toward its past and an eye toward the future, Park Central provides visitors and employees easy access to major nearby freeways — and
more importantly, two light rail stations — proximity to some of Phoenix’s hottest neighborhoods and housing, and all the benefits of
being at the heart of Phoenix’s urban core along with being minutes to the heart of both Downtown and Uptown Phoenix.
301 West Osborn Road is a 40,000+/- square feet concrete-constructed building, built in 1970. The building is four stories along with a subterranean parking garage that houses approximately 66 parking spaces (there are 39 additional spaces above ground). The property is zoned C1 / HR allowing for a wide variety of uses. The building has been stripped back to the concrete shell and has approximately 12’ ceiling heights allowing an investor a clean slate for a reposition / repurpose / conversion project. Additionally, recent upgrades / updates have been done to the parking garage structure at a substantial cost. This is a prime opportunity for a bite-sized office conversion project or for a commercial end user. Given the location and proximity to Park Central, Creighton University, Downtown Phoenix, and Uptown, this property could be a very successful short term rental project as well. This location is as central as it gets with many dining, shopping, and entertainment options, as well as multiple freeway access points all within minutes. This is a great value-add opportunity in a great location and will allow future tenants to enjoy, with ease, so much of what Midtown, Downtown and Uptown have to offer.