602-686-1879
3003 N Central Ave, Phoenix, AZ for Sale
Office - FOR SALE
1/48
null | Request Cap Rate

3003 N Central Ave
Phoenix, AZ 85012


HIGHLIGHTS

  • Leading Occupancy within the Submarket
  • Consistent Cash Flow via +/-5-Year WALT
  • More than 80,000 SF of Positive Net Absorption at the Property Since 2020
  • No Subleases or Dark Space
  • Recently Completed $10.55M+ Comprehensive Renovations
  • Valley Metro Rail Adjacent

OVERVIEW

Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in Thirty 03, located at 3003 North Central Avenue, Phoenix, AZ (the “Property”). This ±458,047 RSF, 26-story, Class A, recently upgraded, multi-tenant high-rise office building is currently 81% leased to a diverse mix of high quality and notable tenants including legal, healthcare, architectural, banking, government and professional services. Originally constructed as one of Metro Phoenix’s first institutional high rise office properties, the Property has recently undergone nearly $11M in transformative capital improvements. Commencing in 2019, a comprehensive capital plan was implemented both aesthetically and back of the house including extensive lobby upgrades, full elevator modernization, spec suites and many other progressive upgrades. Ideally positioned within the dynamic urban core of Midtown Phoenix, Thirty 03 is widely considered one of the “top-tier” office buildings within the submarket, as evidenced by its submarket leading occupancy. This submarket continues to go through a major revitalization anchored by Park Central Mall’s ±$1.0 Billion redevelopment, Creighton University’s new (and soon to be expanding) $80 Million medical campus, and is complemented by a wide variety of new restaurants, night life and residential developments in the immediate area. Furthermore, the Property is positioned within a market area that is well-known for being one of the top transit-oriented, easy to access, live-work-play locations in all of Metro Phoenix, which is evidenced by the “Very Walkable” 71 Walkscore rating, and the more than 10,000 multifamily units constructed within a 3-mile radius of the property over the last five years. The Property is located steps away from the Valley Metro Rail stop at Central Avenue & Thomas Road providing immediate access to the myriad of amenities in Uptown, Downtown, NW Phoenix, and Tempe, all a short light rail ride away! To view the complete Offering Memorandum please click here https://platform.reverecre.com/project/8dab56b6-5b13-41f5-b9bc-253e8e052232

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Phoenix Corporate Tower

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

26

BUILDING CLASS

A

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.33 AC

LAND SF

188,615 SF

ZONING

C-2,HR

APN/PARCEL ID

118-35-103B

ASK ABOUT THIS PROPERTY

Chris MarchildonCBRE, Inc.More Info
602-686-1879

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Chris MarchildonCBRE, Inc.More Info
602-686-1879

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