Listed by Lee & Associates - Arizona
$10,500,000
Southwest Corporate Center
Details
APN 124-58-024D
Property Type Office
Sub Type Traditional Office
Square Footage 76,915
Occupancy 71.2%
Tenancy Multi
Price per SqFt $137
Broker Co-Op Yes
Class B
Year Built 1984
Stories 3
Acreage 3.640
Zoning GID
Office | 76,915 SqFt
Marketing description
Southwest Corporate Center is a 3 story, multi-tenant office building located in a centralized hub for local, regional, and national tenants alike. The building offering consists of a 71.2% leased property with potential value-add through additional lease-up or for an owner-user who can occupy up to 20-45,000 SF of space.
With excellent access to the Broadway curve and proximity to I-10 and SR-143 highways, this asset presents a unique opportunity for value conscious tenants who are seeking a centralized location with the ability to draw from
an extensive labor pool.
Investment highlights
- Three-story Class B Office project totaling 76,915 SF and adjacent surface parking field
- 22,150 SF of the third floor is available for an owner / user
- Outstanding historical occupancy of 87% on average over the last 10 years
- Flexible rectangular floor plates, which are perfectly suited to efficiently accomodate both large and small tenants
- Exceptional value with pricing at approximately a fraction of replacement cost. Recreating a building of this size and quality would exceed ±$350/SF
- Strategically located at the Southwest border of Downtown Tempe, benefiting from access to Tempe’s Mill Avenue Entertainment District, a 24/7 live-work-play urban hotspot and ASU’s campus
- The third floor vacancy (26,702 SF) is a tremendous opportunity for a user to acquire the asset with substantial in-place income
- The current owner / user, AAM, is open to a renewal, downsize, or outright relocation to make up to ±56,000 SF available for occupancy.
Listing Contacts
Listed by Lee & Associates - Arizona
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