Portfolio of 2 Office Properties for Sale
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Portfolio of 2 Office Properties for Sale
in Phoenix, AZ
Executive Summary
• Two (2), four-story institutional-quality office buildings totaling ±230,864 square feet (SF) and an adjacent two-story parking garage.
• ±73% leased to a diverse mix of high-quality tenants, including several publicly traded companies.
• Upcoming vacate of Mobile Mini|WillScot in October 2025 perfectly positions an investor with a reduced basis to capitalize on the submarket’s blossoming small tenant activity and accelerating large tenant demand.
• $4.7 million invested in renovations, building systems upgrades and tenant improvements from 2019 to present.
• Flexible floor plates averaging ±28,800 SF provide ideal bay depths and three (3) exit stairwells collectively enable the floor to efficiently accommodate small-, medium-, and large sized tenants without extensive corridor re-tenanting costs.
• Small tenants have been highly active in the market, leasing an impressive 6.45 million SF in overall Metro Phoenix from 2023 to Year-To-Date (YTD) in 2,219 lease transactions.
• Large tenant (20,000+ SF) demand returning to the metro Phoenix market, with a ±20% Year-Over-Year increase in transaction activity thus far in 2024.
• The 44th Street Corridor holds a direct vacancy of ±14.8% with sublease vacancy totaling just 0.5%.
• Freeway visibility from SR-143 freeway providing prominent tenant signage opportunities.
• True transit-oriented (TOD) location within walking distance of the Metro Light Rail, four (4) different freeways within five (5) miles of the property, and near-immediate vehicular and rail access to the Sky Harbor International Airport.
• Strategically located at the northwest border of Downtown Tempe, benefiting from access to Tempe’s Mill Avenue Entertainment District, a 24/7 live-work-play urban hotspot, and its other amenities.
• Parking ratio of 4.47/1,000 SF is provided by a two-story, 561-space parking garage, 397 surface spaces, and 75 covered spaces.
• Unpriced.
• ±73% leased to a diverse mix of high-quality tenants, including several publicly traded companies.
• Upcoming vacate of Mobile Mini|WillScot in October 2025 perfectly positions an investor with a reduced basis to capitalize on the submarket’s blossoming small tenant activity and accelerating large tenant demand.
• $4.7 million invested in renovations, building systems upgrades and tenant improvements from 2019 to present.
• Flexible floor plates averaging ±28,800 SF provide ideal bay depths and three (3) exit stairwells collectively enable the floor to efficiently accommodate small-, medium-, and large sized tenants without extensive corridor re-tenanting costs.
• Small tenants have been highly active in the market, leasing an impressive 6.45 million SF in overall Metro Phoenix from 2023 to Year-To-Date (YTD) in 2,219 lease transactions.
• Large tenant (20,000+ SF) demand returning to the metro Phoenix market, with a ±20% Year-Over-Year increase in transaction activity thus far in 2024.
• The 44th Street Corridor holds a direct vacancy of ±14.8% with sublease vacancy totaling just 0.5%.
• Freeway visibility from SR-143 freeway providing prominent tenant signage opportunities.
• True transit-oriented (TOD) location within walking distance of the Metro Light Rail, four (4) different freeways within five (5) miles of the property, and near-immediate vehicular and rail access to the Sky Harbor International Airport.
• Strategically located at the northwest border of Downtown Tempe, benefiting from access to Tempe’s Mill Avenue Entertainment District, a 24/7 live-work-play urban hotspot, and its other amenities.
• Parking ratio of 4.47/1,000 SF is provided by a two-story, 561-space parking garage, 397 surface spaces, and 75 covered spaces.
• Unpriced.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 230,902 SF |
| Number of Properties | 2 | Total Land Area | 16.31 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 230,902 SF |
| Total Land Area | 16.31 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
East Gateway
4646 E Van Buren St, Phoenix, AZ 85008 |
Office | 115,451 SF | 2002 | - |
|
East Gateway
4686 E Van Buren St, Phoenix, AZ 85008 |
Office | 115,451 SF | 2006 | - |
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Contacts
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Christopher Toci -
Eric Wichterman -
Michael Coover -
Stephanie Adams -
Diana Hernandez -
Cushman & Wakefield
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Portfolio of 2 Office Properties for Sale
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