Washington Business Park

JLL Industrial Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in Washington Business Park featuring 138,781 SF across four buildings on nine acres (the “Property”). The Property is currently 40% leased to AZ Department of Economic Security, HOM, Inc., and Walgreens with 2.5yr weighted average remaining term. Located in the airport submarket at 5324, 5326, 5328, 5330 E. Washington Street, Phoenix, AZ, the infill nature of the Property cannot be overstated just 1.5 miles northeast of Sky Harbor International Airport adjacent to the Loop 202 freeway. The high barrier to entry infill location of Washington Business Park provides potential investors a hedge against current or future supply concerns with vacancy in the airport submarket (4.1%) remaining resilient to the broader Phoenix Metro (12.5%). The submarket’s continued popularity, beyond it’s main & main location, is due in large part to the unparalleled access it affords to both local and regional markets, not only from it’s proximity to Sky Harbor Airport, but also through being surrounded by the main arteries of the Phoenix freeway system including the Loop 101, Loop 202, SR 51, SR 143, I-10, I-17, US 60. The value-add offering provides potential investors the opportunity to significantly enhance returns through executing an aggressive lease-up strategy at Washington Business Park to take advantage of the submarket’s vacancy rate, currently a third of the broader market, an no current industrial projects under construction. The existing tenancy at the Property will provide stable cash flow in the near term while formulating the business plan best suited to the ultimate buyer.