1750 SOUTH MESA DRIVE Mesa, Arizona 85210

Transcription

1 1750 SOUTH MESA DRIVE Mesa, Arizona OWNER USER OPPORTUNITY R. CRAIG COPPOLA ANDREW CHENEY GREGG KAFKA CCIM ASSOCIATE

2 SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA

3 1750 South Mesa Drive OWNER USER OPPORTUNITY Contents Executive Summary...4 Property Overview...8 Market Overview...11 R. CRAIG COPPOLA ANDREW CHENEY GREGG KAFKA CCIM ASSOCIATE

4 EXECUTIVE SUMMARY Asset Profile Address: Sale of Interest: Zoning: Total Size: Site Acreage: Parking: 1750 S. Mesa Drive Mesa, AZ Fee simple M-1, PAD, City of Mesa 40,980 SF ±4.75 Acres 126 spaces (7 covered) Year Completed: 1987 Parcel #: A (part of larger parcel) B DEVELOPMENT SITE SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA 4

5 EXECUTIVE SUMMARY Property Highlights FUTURE DEVELOPMENT OPPORTUNITY Owner-user sale at 1750 S. Mesa Drive, including the sale of the adjacent vacant ±1.5 acre parcel which is zoned for a building up to ±9,000 square feet. This vacant parcel permits an owner flexibility to address the potential future needs of the existing tenant or develop a building for lease-up. As a result, this offering presents a unique upside development opportunity with timing dictated by the new owner. STRATEGIC MESA LOCATION The Property is located on Mesa Drive in Mesa, AZ, a major north/south thoroughfare with direct access to the Superstition Freeway (U.S. 60) less than 200 yards from the Property. Mesa holds the distinction of being the 3rd largest city in Arizona and the 38th largest in the United States. The City of Mesa is strategically positioned for businesses to access and serve the global economy. Smart companies such as Apple, Boeing, Bridgestone, FUJIFILM, Mitsubishi, Ulthera and MD Helicopters all have large operations in Mesa. 5

6 MAIN ST. FIESTA MALL BROADWAY RD. GILBERT RD. 87 MESA DR. ALMA SCHOOL RD. MESA GRAND SOUTHERN AVE. 60 BASELINE RD. MESA SHORES/TOWNSHIP PLAZA SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA GUADALUPE RD.

7 Floor Plans PROPERTY SUMMARY FIRST FLOOR SECOND FLOOR 7

8 GILBERT RD. MESA DR. PROPERTY OVERVIEW STAPLEY DR. BROADWAY RD. 87 SOUTHERN AVE. 60 TRANSPORTATION BASELINE RD. With three airports within minutes and a rapidly expanding urban freeway system, the Superstition Corridor has an excellent transportation network. The major transportation feature is, of course, the Superstition Freeway (US 60), which provides direct access to Tempe anddrive to Phoenix 10. ARIZONA 1750 SOUTH MESA / LEEvia & Interstate ASSOCIATES Additionally, the Price Freeway (Loop 101) has increased access to the Superstition Corridor from Chandler, Tempe, Mesa and Scottsdale, while the San Tan Freeway (Loop 202) will complete the submarket s access to the Greater Phoenix freeway system when it links Interstate 10 and the Price Freeway upon its completion. CAREFREE 17 DESERT HILLS CAREFREE HWY. CAVE CREEK DYNAMITE BLVD. EE LAKE KR D. PLEA 60 HOUSTON AVE. PIMA RD. SANT PKW Y. SCOTTSDALE RD. 303 CA VE CR HAPPY VALLEY RD. PINNACLE PEAK RD. Agua Fria Fwy. Deer Valley Airport 101 Pim a F w y. NORTH SUN CITY WEST BELL RD. CACTUS RD. 44TH ST. 7TH ST. MILL AVE. WARNER RD. RAY RD. South Mountain Fwy. CHANDLER RD. 10 MESA DR. MCKELLIPS RD. MESA VAL V ISTA DR. DOBSON RD. BASELINE RD. AHWATUKEE FOOTHILLS 88 UNIVERSITY DR. MAIN ST. SOUTHERN AVE. Superstition Fwy. Price Fwy. 32ND ST. TEMPE Red Mountain Fwy. COUNTRY CLUB Pima Fwy GILBERT ELLIOT RD. CHANDLER ARIZONA AVENUE Phoenix Sky Harbor International Airport Maricopa Fwy. BASELINE RD SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA SCOTTSDALE The Superstition Corridor is also served by the main line of the Union Pacific railroad. LINCOLN DR. MCDONALD DR. CAMELBACK RD. 24TH ST. DEAN RD. 83RD AVE. 99TH AVE. e. Av BROADWAY RD. 87 INDIAN SCHOOL RD. PHOENIX ive r S alt R FOUNTAIN HILLS 101 PARADISE VALLEY Papago Fwy. TOLLESON BUCKEYE RD. Goodyear Airport 51 CENTRAL AVE. nd 10 YUMA RD. Proposed or Under Construction Scottsdale Airpark SHEA BLVD. 17 Black Canyon Fwy. GLENDALE GOODYEAR JACKRABBIT TR. 43RD AVE. PEORIA GLENDALE AVE. LITCHFIELD PARK WATSON RD. 59TH AVE. LITCHFIELD RD. PEORIA AVE. Luke AFB Existing Freeways TATUM BLVD. GREENWAY RD. SUN CITY 48TH ST. THUNDERBIRD RD. Piestewa Fwy. Sun Valley Pkwy. a Gr Phoenix s Sky Harbor International Airport can be reached within 20 minutes from most of the Superstition Corridor. A few miles south of this submarket, Williams Gateway Airport offers complete local aviation facilities to industrial and commercial development and, with three 10,000-foot runways, acts as a reliever for Sky Harbor. One of the top ten general aviation airports in the nation, Falcon Field Airport lies within a few miles north of the Superstition Corridor. ANTHEM 74 CHANDLER BLVD. Santan Fwy. APACHE TRAIL APACHE JUNCTION

9 MARKET OVERVIEW The Market As one of the fastest growing regions in the nation for the last several decades, Phoenix now stands as the nation s sixth largest city and fourteenth largest metropolitan area. Phoenix has received numerous accolades over the last few years due to its growth, low cost of living and appealing business environment. KTAR news reports Mesa Beats out Phoenix in 2018 Rankings of Best Big Cities to Live In Fortune ranked Phoenix as having the #5 fastest growing tech market. Inc. Magazine recognized Phoenix as one of the Top 20 U.S. cities for start-up companies. Forbes recognized Phoenix as a Top 10 next big boomtown in the U.S. and metropolitan Phoenix as the 11th fastest growing metro area in the country. Azcentral.com reported Arizona economic forecast: Another strong year, no recession in sight Vacancy in the Phoenix office market fell from 19.39% in Q1 to 18.61% in Q2 of 2018 as vacancy rates continue to be the lowest since Office rental rates continue to remain steady at $25.22, dropping just $0.54 from the previous quarter The Mesa office market posted strong and steady numbers in Q2 with the surge of employment opportunities, positive rental rates, and low vacancy rate. As we close down the first half of the year, the Q2 office market portrays favorable statistics for the rest of the year DYNAMIC GROWTH AREA Within a three mile radius of 1750 South Mesa Drive the population is expected to grow 7.6% from 2018 to This consistent, steady growth is nearly 50% greater than that of the nation and portends a strong future business climate for the area. Mesa was recently ranked number one in Arizona as the best big City to live in and No. 15 in the United States, according to a new study. The rankings were based on data from 52 metrics that were condensed to five categories: affordability, economy, education and health, quality of life and safety. Mesa earned its highest score in the affordability category, ranking fourth. 9

10 1750 South Mesa Drive Mesa, Arizona Owner User Opportunity R. CRAIG COPPOLA ANDREW CHENEY GREGG KAFKA CCIM ASSOCIATE