EXTREMELY RARE OPPORTUNITY TO PURCHASE SCOTTSDALE ROAD MULTI-TENANT OFFICE BUILDING WITH OWNER/USER OPTIONS
* Burns & Wilcox Business Center presents investors a rare opportunity to acquire an irreplaceable asset with strong in-place cash flow, yet add value through increasing occupancy, boosting rents and deploying a strategic capital plan whether that is keeping things status quo or by raising rents.
* Burns & Wilcox, currently occupying space on the first floor, will either vacate their premises to make way for a user buyer or do a leaseback to provide buyer stable income on the property. Second floor space currently occupied by Children's Learning Center is an additional option for an owner/user to consider for future tenancy as well.
* This is an exceptional opportunity to acquire a building on Scottsdale Road, situated on over 112,000 SF of land and bordered by three streets, that is currently 84.5% leased, offering stable cash flow from the building’s 3 local and regional long-term tenants.
* Built in 1986 and renovated in 1995, this 2-story steel frame building offers significant potential to enhance the asset’s value through a strategic and well-planned capital improvements program aimed at upgrading the building’s quality.
ROBUST ECONOMIC HUB WITH EXCEPTIONALLY STRONG MARKET FUNDAMENTALS
* Within the Scottsdale Airpark, there is a 5.5% vacancy rate for two-story office buildings between 25,000 SF and 50,000 SF (Costar), compared to the 16.6% Q4-2024 vacancy rate for office buildings in the Airpark (CBRE Research).
* The Scottsdale Airpark office leasing continues to show positive activity evidenced by the 3,807,903 million gross square feet leased over the past 4 quarters (CBRE Research).
* Scottsdale is home to more than 25,000 businesses with nearly 20 percent of Arizona corporate headquarters calling the city home. Furthermore, Scottsdale is visited by over 9 million people annually, adding over $3.7B of yearly economic impact to this booming economic hub.
THRIVING LOCATION WITH ABUNDANT NEARBY AMENITIES
* Scottsdale Airpark has become a national model for airport-based business parks. It is home to more than 25 national/regional corporations, 2,900 businesses, more than 51,000 employees and has easy airport & freeway access providing unmatched accessibility.
* Abundant nearby amenities, headlined by Scottsdale Quarter and Kierland Commons, two premier open air, mixed-use developments in the heart of Scottsdale Airpark. The adjacent properties alone boast over 1.2 million square feet of retail and office space along with over 650 luxury apartment units.
* Excellent ingress/egress as the property sits within 4 minutes of the Loop 101 Freeway providing exceptional access to Greater Metro Phoenix.