602-339-3131
10835 N 25th Ave, Phoenix, AZ for Sale
Office - FOR SALE
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10835 N 25th Ave
Phoenix, AZ 85029


HIGHLIGHTS

  • 22% leased with a clear path to significant upside by having the lowest basis in the trade area and implementing a spec suite program to stabilize.
  • There are no available spec suites in the building's competitive set to capture tenant demand—specifically from tenants 6,000 SF or smaller.
  • Flexible floor plates averaging ±32,200 SF with ideal bay depths to efficiently accommodate small-, medium-, and large-sized tenants.
  • Buildings 50,000 SF with floor plates that only mostly accommodate small tenants boast a healthy a ±7.5% vacancy rate YTD within a 3-mile radius.
  • Over ±291,000 SF have been leased by tenants with an average size of ±2,175 SF in 130+ transactions within a 3-mile radius from Black Canyon Center
  • Located within an opportunity zone.

OVERVIEW

• Three-story, high-quality office building totaling ±96,783 SF • 22% leased with a clear path to significant upside by having the lowest basis in the trade area and implementing a spec suite program to stabilize. • There are no available spec suites in the building's competitive set to capture tenant demand—specifically from tenants 6,000 SF or smaller. • Flexible floor plates averaging ±32,200 SF with ideal bay depths to efficiently accommodate small-, medium-, and large-sized tenants. • Buildings 50,000 SF with floor plates that only mostly accommodate small tenants boast a healthy a ±7.5% vacancy rate YTD within a 3-mile radius. • Over ±291,000 SF have been leased by tenants with an average size of ±2,175 SF in 130+ transactions within a 3-mile radius from Black Canyon Center since January 2024. • Large tenant (20,000+ SF) demand is returning to the metro Phoenix market, with a ±20% Year-Over-Year increase in transaction activity in 2024. • Located within an opportunity zone. • Transit-oriented location within the Black Canyon Corridor, which is known for its immediate Interstate-17 (I-17) access and deep labor pool access. • The Metro Light Rail’s Northwest Extension Phase II, which was completed January 2024, is located less than one (1) mile from the property. • ±2.3 million SF of retail amenities within a three (3) mile radius, which include a wide variety of restaurants and fast-food chains, as well as several shopping options. • One (1) mile from Metrocenter Mall’s $850 million redevelopment site, which will include over 1,000 for-rent and for-purchase townhomes, retail spaces, restaurants, parks, bike paths and more. • UNPRICED

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Black Canyon Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

560

LAND DETAILS

LAND ACRES

6.73 AC

LAND SF

293,159 SF

ZONING

A-1

APN/PARCEL ID

149-07-053D,149-07-065,149-07-066

ASK ABOUT THIS PROPERTY

Eric WichtermanCushman & WakefieldMore Info
602-339-3131

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Eric WichtermanCushman & WakefieldMore Info
602-339-3131

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.