Office

16001 N 28th Avenue

16001 N 28th Ave, Phoenix, AZ, 85053-4050, US

16001 N 28th Avenue_Property for Sale

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Asset 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.

Attributes

Building area Net
107,482 sf
Year built
1998

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

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Last updated
Nov 30, 2022