602-418-8821
1337 E Rio Salado Pky, Tempe, AZ for Sale
Office - FOR SALE
1/5
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1337 E Rio Salado Pky
Tempe, AZ 85281
Downtown Tempe


HIGHLIGHTS

  • ±147,495 square foot 3-story trophy office
  • Rio Salado Parkway frontage
  • Large, flexible ±49,000 floor plates flexible and divisible for tenants of various sizes
  • Newly built in September 2023 within Tempe’s premier submarket
  • Flexible floorplates across three stories for varied tenant needs
  • Located in a federal Opportunity Zone with tax incentives

OVERVIEW

Positioned in the heart of Tempe’s dynamic North Tempe submarket, 1337 E Rio Salado Parkway presents a rare opportunity to acquire a newly constructed, trophy office asset within one of Arizona’s most vibrant mixed-use corridors. Completed in September 2023, this three-story building spans ±147,495 square feet and sits on a generous ±7.75-acre parcel with prominent frontage along Rio Salado Parkway. The property is located within the Novus Innovation Corridor, a 355-acre master-planned development adjacent to Arizona State University, blending office, residential, retail, and hospitality into a thriving urban hub. The building’s flexible floorplates are designed to accommodate a wide range of tenant sizes, making it ideal for both single-tenant headquarters or multi-tenant configurations. With zoning under MU-ED and designation within a federal Opportunity Zone, investors can benefit from significant tax advantages. The site also includes a planned four-level parking garage and surface parking, offering an exceptional 6.64:1,000 parking ratio. Surrounding amenities include Tempe Marketplace, Mill Avenue Entertainment District, and Sloan Park, all within minutes. The property is also just 10 minutes from Phoenix Sky Harbor International Airport and Downtown Phoenix, with seamless access to Loops 101 and 202. Major employers in the area include ASU, State Farm, JP Morgan, and Waste Management, contributing to a daytime population exceeding 6,400 per square mile. This is a rare chance to secure a premium office asset in a high-growth, innovation-driven district with long-term upside and immediate locational advantages.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Rio Yards - Building A

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

920

LAND DETAILS

LAND ACRES

8.5 AC

LAND SF

370,260 SF

ZONING

I-1

APN/PARCEL ID

132-33-001B

ASK ABOUT THIS PROPERTY

Brian AckermanColliersMore Info
602-418-8821

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Brian AckermanColliersMore Info
602-418-8821

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