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3930 E Ray Road - Foothills Center, Phoenix, AZ

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DetailMap
3930 E Ray Road - Foothills Center

48th St & Piedmont
Phoenix, AZ 85044-7171 - South Tempe/Ahwatukee Submarket

(713.6 KB)

Property Type:Office Sub Type:- Status:Existing Year Built:1998
Stories:2 Typical Floor:20,602 SF Building Size:41,204 SF
% Leased:
For Sale Price:$5,350,000 Price/SF:$129.84
Cap Rate:8.10 %
Smallest Space:1,316 SF Largest Space:11,930 SF Total Space Avail:24,162 SF Rent/SF/Yr:
$15.00 - $26.40
Parking:Free Surface spaces; 44 Covered spaces @ $35.00/mo; Reserved spaces @ $35.00/mo; Ratio of 4/1,000 SF


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
4,247 SF
$15.00/SF/Yr
30 Days
Thru Dec 2017
Office
 1st
1,316 SF
$26.40/SF/Yr
30 Days
Thru May 2017
Office
 1st
1,372 SF
$19.00/SF/Yr
Vacant
3-5 yrs
Office
 2nd
3,000 SF-11,930 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
 2nd
1,688 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
 2nd
2,208 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
 2nd
1,401 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
 
11246778
11246784
10529032
10529020
11208828
11208841
11208896
Floor Plan
  
Marketing Flyer Marketing Flyer  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
4,247 SF
$15.00/SF/Yr
30 Days
Thru Dec 2017
Office
1st
1,316 SF
$26.40/SF/Yr
30 Days
Thru May 2017
Office
1st
1,372 SF
$19.00/SF/Yr
Vacant
3-5 yrs
Office
2nd
3,000 SF-11,930 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
2nd
1,688 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
2nd
2,208 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
2nd
1,401 SF
$19.00/SF/Yr
10/2018
3-5 yrs
Office
The Foothills Corporate Center features mountain and park views. The site is located within the prestigious Mountain Park Ranch planned community. There are parks, recreation, and retail within walking distance. The property is in a dynamic growth area and an excellent foothills location.

Sale Notes:
Description:

This offering consists of a highly desirable 41,204 SF multi tenant Class B office building. The property is all but full at 97% occupancy while still leaving value add opportunity as the Ahwatukee market begins to stabilize and market rents continue to increase. Foothills Center comfortably parks at a 4:1,000 SF parking ratio and offers desirable monument signage visible from Ray Rd, one of the main thoroughfares through the community. The property is in very good condition with no deferred maintenance and has been extremely well managed and maintained under the current ownership.

Foothills Center is strategically located in the heart of Ahwatukee off of Ray Rd and the I-10 Fwy. Ahwatukee is a high end community abutted to South Mountain Park just west of the I-10 Freeway. The community is a highly attractive employment center that offers easy access to the urban freeway system including the I-10 and Loop 202 Freeways, Sky Harbor International Airport, and a large labor pool that is highly educated and skilled in a variety of occupations. The high end building is surrounded by an upscale residential neighborhood, convenient shopping centers, and an abundance of fabulous restaurants making it very appealing for local businesses to office out of.

SVN | Desert Commercial Advisors
Justin Horwitz
(480) 425-5518

Paul Borgesen
(480) 425-5500

Jonathan Levy
(480) 425-5538


SVN | Desert Commercial Advisors
  
Realty Executives Tempe Tower


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