8600 S Science Dr - Office FOR SALE


Tempe, AZ 85284
$30,630,000 USD
602-686-1879
8600 S Science Dr, Tempe, AZ for Sale
$30,630,000 USD
Office - FOR SALE
1/14
null | 8.75% Cap Rate

8600 S Science Dr
Tempe, AZ 85284


HIGHLIGHTS

  • Leased to Amazon.com, a Fortune #2, S&P AA- rated publicly traded company (NASDAQ: AMZN)
  • Below market rent, 17% below recently completed competitive leases in Tempe, South Tempe and Chandler
  • Durable income stream with 5.2-year firm lease. Amazon has been at the property for nearly 10 years!
  • Significant capital expenditures, with an excess of $16 M ($130 PSF) spent in the past 9 years
  • Located 1/4 mile from the Loop 101 Freeway
  • Located in the ASU Research Park, a premier +/-320-acre research and corporate business park

OVERVIEW

Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the leasehold interest in Nexus @ ASU Research Park, a Class A, ±123,864 square foot, 100% leased corporate office property in Tempe, Arizona (the “Property”). The Property is fully leased to the investment grade, Fortune #2, ±$1.8 trillion market cap, Amazon.com, Inc. (NASDAQ: AMZN; S&P: AA- LT & A-1+ ST ; Moody’s A2). The lease is guaranteed by the parent company. Built in three phases, in 1985, 1987 & 1995, and fully repositioned from 2015-2020, with ongoing improvements today. Amazon has enjoyed occupancy at the Property since 2015 and recently renewed their lease commitment for a 5-year firm term. Amazon utilizes Nexus @ ASU Research Park as its North American Network Operations Center supporting Amazon’s transportation operations. This one-of-a-kind operations center services the entire United States. Since 2015, property ownership and Amazon have infused more than $16 million (±$130 PSF) of capital improvements into the interior, exterior, and building infrastructure. Amazon continues to invest capital into their space with an ongoing improvement project in the 8600 S. Science portion of the Property which will update the FF&E, flooring, and paint, among other aesthetic improvements. This significant capital investment in the Property, recently renewed lease, physical occupancy, and the fact that Amazon has never vacated a direct leased or owned asset across Metro Phoenix, signifies a high likelihood of continued operation and success at Nexus @ ASU Research Park

FOR SALE DETAILS

PRICE

$30,630,000 USD

PRICE/SF

$247 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nexus @ ASU Research Park

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

712

LAND DETAILS

LAND ACRES

10.9 AC

LAND SF

474,804 SF

ZONING

AG

APN/PARCEL ID

301-53-326

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.