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3221 N 16th Street - Park 16 - Park 16, Phoenix, AZ

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3221 N 16th Street - Park 16 - Park 16

Phoenix, AZ 85016-7157 - Midtown/Central Phoenix Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1982
Stories:4 Typical Floor:12,427 SF Building Size:49,708 SF
For Sale Price:$4,550,000 Price/SF:$91.53
Cap Rate:9.50 %
Parking:Free Surface spaces are available; Free Covered spaces are available; Ratio of 3.32/1,000 SF Amenities:Signage

Four-story contemporary building with common interior lobby and security access conveniently located between downtown and Scottsdale with close proximity to Squaw Peak Parkway via Thomas or Indian School Roads.

Sale Notes:
Park 16 is an attractive ±49,708 square foot, multi-tenant office complex in Phoenix, Arizona. The property is situated between two (2) of the Valley' s most prominent submarkets, the Camelback Corridor and the Central Business District (Downtown and Midtown), in an infill location. The four (4) story building was constructed in 1982 and sits on a ±2.16 acre land parcel carrying a C-0 zoning classification. A timeless design was created by incorporating attractive brick with glass curtain-walls. The result is an attractive and prominent building highly visible to passing traffic along 16th Street a major arterial serving central Phoenix. The building' s rectangular design lends itself to highly efficient floor plates, which can accommodate both large and small

Park 16 is located on the southeast corner of Flower Street and 16th Street, just south of Osborn Road in Phoenix,
Arizona. From a location standpoint the immediate location, as well as the 16th Street Corridor to the north, have enjoyed enormous benefits from the powerful urban revitalization movement gripping the Valley' s real estate market. Dozens of new restaurants and shops have opened within two (2) miles of the property along Central Avenue, 3rd Street, 7th Street and 16th Street (beginning 1½ miles to the north). With respect to freeway access, State Route 51 (SR-51) lies a mere ¼ mile east of the property and Interstate 10 (I-10) is just 1½ miles to the south. SR-51 is accessed from the full diamond interchanges on either Thomas or Indian School Roads. I-10 access is provided from 16th Street.

Cushman & Wakefield
Michael Coover
(602) 224-4473

Eric J Wichterman
(602) 224-4471

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