Phoenix Office Park (1651 - 1571)
Covered Land Play - Across From The World's Busiest Airport
Marketing description
This is an excellent opportunity to acquire over 10 acres of contiguous land, with 12 single story office buildings, nearly adjacent to the world's busiest airport. This offering can be considered a covered land pay, where an investor can focus on getting the existing office properties leased up to more than the current 32%, or a developer can purchase this property with the intent to redevelop into another use such as a distribution center or an industrial building(s).
The property benefits from having direct frontage on I-285 with 178,000 cars passing per day. The location also provides easy access to both I-85 and I-75, and it is nearly adjacent to Hartfield Jackson International Airport. To keep the property as-is, there will be some capital improvements needed to several of the buildings to get them leasable. Several buildings have roof leaks above vacant spaces and then building 1591 sustained a fire so in need of repair.
Investment highlights
Covered land play of over 10 contiguous acres across from the world's busiest airport - Hartsfield Jackson International Airport.
Currently configured with 12 single story office buildings at 32% occupancy.
Easy upside with leasing efforts on the current office configuration.
Excellent site for an industrial or a distribution development due to access to multiple interstate highways and the cargo component to the airport.
Signage opportunities on I-285 with 178,000 cars passing per day.
Owned by the same family for multiple decades - not previously on the market for sale.
The site benefits for having all utilities, thus an easy conversion to another use as opposed to developing raw land.
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