Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Key facts

Year Built 1998
Building Area Net
Rentable Area

Property description

Jones Lang LaSalle, Inc., as exclusive advisor, is pleased to present the opportunity to acquire the fee-simple interest in 16001 North 28th Avenue (the “Property”), a vacant 107,482 square foot, institutional quality, office building. Located in the Arizona Business Park, the only master-planned business park along the I-17, the Property benefits from excellent connectivity to the greater Metro Phoenix area, convenient access to a myriad of amenities, and a rapidly growing educated labor pool in North Phoenix.

 

Previously leased to Farmers Insurance, 16001 North 28th Avenue provides Class A amenities with a two-story lobby, abundant glass lines on all sides of the building, generous ceiling heights, redundant power, a fitness center, and conference rooms built to attract large corporate users or rapidly growing firms with expansion potential.

 

With tremendous access to the entire Valley via I-17 and Loop 101 freeways, robust corporate tenant mix throughout the business park, and freeway visibility and signage, the Property presents a unique investment opportunity. 16001 North 28th Avenue is offered at a significant discount to replacement costs, with significant upside through lease-up, and drastically increasing cash flows.

Investment highlights

  • Flexible Vacancy Opportunity
  • Class A On-Site Amenities and Building Features
  • Offered At A Significant Discount to Replacement Cost
  • Excellent Parking Ratios
  • Arizona Business Park Location
  • Infill, Urban-Suburban Location with a Rich Amenity Base
  • Significant Upside Potential Through Redevelopment
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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