FOR LEASE OR SALE S Priest Drive TEMPE, ARIZONA SALE PRICE: $1,425,000 LEASE RATE: $14.00 NNN. JOHN BARNES
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1 FOR LEASE OR SALE 1658 S Priest Drive TEMPE, ARIZONA SALE PRICE: $1,425,000 LEASE RATE: $14.00 NNN JOHN BARNES john.barnes@colliers.com
2 LOCATION HIGHLIGHTS > > Great Tempe location near Arizona State University > > Surrounded by many restaurants, hotels, and other conveniences and amenities > > Easy freeway access PLEASE DO NOT DISTURB OCCUPANT > > Within 10 minutes to Sky Harbor International Airport PROPERTY HIGHLIGHTS Great location in The Enclave on Priest Drive, just north of Broadway 2011 construction +8,338 SF building within an office condo development Current use is for a corporate training facility Property is in excellent condition and move-in ready
3 NEARBY AMENITIES
4 FLOOR PLAN 103 Break Out Room Break Out Room Manager 124 Visitor Conf 104 Storage Room 105 Corridor 126 Corridor 106 Training Room Hospitality Area 123 Training Room 1 203RD AVE PATTON RD 107 Break Out Room Break Out Room 3 HAPPY VALLEY RD 109 Janitor MORRISTOWN HWY SUN VALLEY PKWY 110 Corridor OLIVE AVE 122 Production NORTHERN AVE Room CAMELBACK RD 121 I.T INDIAN SCHOOL RD Room MCDOWELL RD YUMA RD 195TH AVE O BUCKEYE Existing Fire Riser Men s Restroom 120 Storage Room Existing Ses 112 Women s Restroom DW 113 Break Room DEER Ref VALLEY Ref RD 117 Open 118 LITCHFIELDI 116 Visitor 114 Open 115 Manager This document/ has been prepared by Colliers BROADWAY International RD for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the SOUTHERN AVE information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should BASELINE RD undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all BELOAT RD INDIAN SPRINGS RD DOBBINS RD inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the ELLIOT copyrighted RD property of Colliers International and/or its licensor(s). ELLIOT RD All rights reserved. NARRAMORE RD TUTHILL RD JACKRABBIT TR DEER VALLEY RD RAINBOW VALLEY RD GRAND AVE COTTON LN. 163RD AVE SARIVAL AVE REEMS RD L PEPPLECREEK PKWY EAR ESTRELLA PKWY BULLARD AVE HAYDEN RHODES AQUEDUCT A E YOU G LITCHFIELD RD DYSART RD THOMAS RD VAN BUREN ST O DA EL MIRAGE RD 115TH AVE 115TH AVE BEARDSLEY RD UNION HILLS DR BELL RD N 107TH AVE 99TH AVE LAKE PLEASANT RD U T 91ST AVE NEW RIVER RD 91ST AVE 83TH AVE E 75TH AVE BUCKEYE RD L ES N LOWER BUCKEYE RD R ESTRELLA DR CAREFREE HWY HAPPY VALLEY RD PINNACLE PEAK RD AGUA FRIA FWY GREENWAY RD THUNDERBIRD RD CACTUS RD L SAINT JOHNS RD 59TH AVE 51ST AVE 43RD AVE A 67TH AVE 59TH AVE 51ST AVE 43RD AVE PAPAGO FWY GRAND AVE 59TH AVE 51ST AVE 43RD AVE 35TH AVE 35TH AVE 35TH AVE 27TH AVE BLACK CANYON FWY DESERT HILLS DR CONTACT: JOY RANCH RD 19TH AVE 7TH AVE JOHN BARNES john.barnes@colliers.com CAVE CREEK RD GREENWAY PKWY COLLIERS INTERNATIONAL GREENWAY RD 2390 E Camelback Rd, THUNDERBIRD Ste 100 RD Phoenix, AZ CACTUS 222 RD PEORIA AVE DUNLAP AVE NORTHERN AVE GLENDALE AVE BETHANY HOME RD CAMELBACK RD INDIAN SCHOOL RD MCDOWELL RD 7TH ST VAN BUREN ST 16TH ST 24TH ST 19TH AVE 19TH AVE 7TH AVE 7TH AVE CENTRAL AVE 7TH ST 7TH ST 16TH ST 16TH ST SQUAW PEAK FWY THOMAS RD MARICOPA FWY CAVE CREEK RD BROADWAY RD SOUTHERN AVE CLOUD RD GUADALUPE CHANDLER BLVD PECOS RD 32ND ST 32ND ST 24TH ST 32ND ST PIMA FWY 40TH ST TATUM BLVD TATUM BLVD SHEA BLVD DOUBLETREE RANCH RD VALLEY 40TH ST 44TH ST RED MT FWY 48TH ST 56TH ST LINCOLN DR MCDONALD DR CHAPARRAL RD CAMELBACK RD 56TH ST GALVIN PKWY TOM DARLINGTON LONE MOUNTAIN RD DIXILETA DR DYNAMITE BLVD JOMAX RD TEMPE S THOMPSON PEAK PKWY VIA DE VENTURA INDIAN BEND RD CURRY RD UNIVERSITY DR APACHE BLVD PRIEST DR MARICOPA FWY 56TH ST KYRENE RD RURAL RD BASELINE RD GUADALUPE RD ELLIOT RD CAVE CREEK RD 64TH ST 64TH ST 64TH ST SCOTTSDALE SCOTTSDALE RD HAYDEN RD HAYDEN RD PIMA RD PIMA RD PIMA FWY DOBSON RD ALMA SC HOOL RD 104TH ST MILL AVE MCCLINTOCK RD PRICE RD PRICE FWY PINNACLE PEAK RD BELL RD FRANK LLOYD WRIGHT BLVD WARNER RD COUNTRY CLUB DR SUPERSTITION FWY MESA DR 124TH ST CH BARTLETT PECOS RD RIO VERDE DR VIA LINDA HAYDEN RHODE S AQUEDUCT RAY RD THOMAS RD MESA DR STAPLEY DR GILBERT RD LINDSAY RD BEELINE VAL VISTA DR BELTLINE RD RICOPA RD GERMANN RD QUEEN CREEK
5 SUMMARY OF COMPARABLE IMPROVED SALES No. Property Location Transaction Year Actual Sale Adjusted Sale Price Build Size (SF) Type Date Built Price Price Per SF Out Interest 1 24 W. 5th St., Tempe, AZ Sale Nov 15 11, $2,500,000 $2,500,000 $ Fee Simple E. 2nd St., Scottsdale, AZ Sale Dec 15 7, $1,480,000 $1,875,718 $ Fee Simple E. Indian School Rd., Phoenix, AZ Sale Nov 16 6, $1,525,000 $1,525,000 $ Leased Fee W. McDowell Rd., Phoenix, AZ Sale Dec 16 7, $2,062,500 $2,062,500 $ Fee Simple Subject Property Escrow Escrow 6, $1,510,320 $1,510,320 $ Leased Fee
6 IMPROVED SALE NO. 1 Name Address 24 W. 5th St. City/State Tempe, AZ Zip code County Maricopa Assessors No(s) Sales Data Sale Date Nov-15 Recording Date Nov-15 Document Number Property Rights Fee Simple Seller SJ Dru Development Buyer Optumas Price $2,500,000 Terms Market Financing CE Price $2,500,000 Price/Rentable SF $ Physical Data Property Type Site Size (AC) 0.43 Acres Site Size (SF) 18,552 Square Feet Site Coverage 61% Building Area (GLA) N/A Building Area (NRA) 11,238 Yr. Constructed 1967 Yr. Renovated N/A Zoning C-2 Occupancy at Sale 0% Verification Mitch Chilton, Cushman & Wakefield Phone No. (602) The comparable represents the sale of an office building located in Downtown Tempe, AZ. The two-story building was constructedin1967andissituatedona0.43acresite. Thebuildingwas100% vacant at the time of the sale. The property sold in November 2015 for $2,500,000. The interior included general office buildout, a small retail portion on the ground floor, and was in good condition. The buyer origannly planned to occupy the second story, but then decided to lease the property.
7 IMPROVED SALE NO. 2 Name Address 6900 E. 2nd St. City/State Scottsdale, AZ Zip code County Maricopa Assessors No(s) A Sales Data Sale Date Dec-15 Recording Date Dec-15 Document Number Property Rights Fee Simple Seller Redline Realty Buyer SimonCRE Price $1,480,000 Terms Market Financing CE Price $1,875,718 Price/Rentable SF $ Physical Data Property Type Site Size (AC) 0.27 Acres Site Size (SF) 11,565 Square Feet Site Coverage 67% Building Area (GLA) N/A Building Area (NRA) 7,756 Yr. Constructed 1987 Yr. Renovated 2016 Zoning CO Occupancy at Sale 100% Verification Appraisal/Affidavit/Buyer N/A Phone No. N/A The comparable represents the sale of an office building located in Downtown Scottsdale, AZ. The building was constructed in 1987 and is situated on a 0.27 acre site. The building was 100% occupied by the seller at the time of the sale. The property sold in December 2015 for $1,480,000. The interior included high end finishes and was in good condition. The buyer planned to remodel the building, and planned to spend $395, Therefore, the adjusted sale price is $1,875,718, $ per square foot.
8 IMPROVED SALE NO. 3 Name Address 4422 E. Indian School Rd. City/State Phoenix, AZ Zip code County Maricopa Assessors No(s) Sales Data Sale Date Nov-16 Recording Date Nov-16 Document Number Property Rights Leased Fee Seller Vernadero Group Buyer All About People Price $1,525,000 Terms Market Financing CE Price $1,525,000 Price/Rentable SF $ Physical Data Property Type Site Size (AC) 0.43 Acres Site Size (SF) 18,528 Square Feet Site Coverage 35% Building Area (GLA) N/A Building Area (NRA) 6,512 Yr. Constructed 1958 Yr. Renovated 2010 Zoning R-5 Occupancy at Sale 100% Verification Andrew Brigham, CBRE Phone No. (602) The comparable represents the sale of an office building located in Phoenix, AZ. The building was constructed in 1958, was extensively remodeled in 2010, and is situated on a 0.43 acre site. The building was 100% occupied by the seller and a Yoga practice at the time of the sale. The property sold in November 2016 for $1,525,000, or $ per square foot to an owner user. The interior contained high quality office build out, had potential for 3-4 separate suites, and was in good condition. The yoga tenant had a lease that ran through The buyer planned to occupy the remainder of the building.
9 IMPROVED SALE NO. 4 Name Address 116 W. McDowell Rd. City/State Phoenix, AZ Zip code County Maricopa Assessors No(s) Sales Data Sale Date Dec-16 Recording Date Dec-16 Document Number Property Rights Fee Simple Seller Oleskow Haan LLC Buyer Sunbelt Investment Holdings Price $2,062,500 Terms Cash CE Price $2,062,500 Price/Rentable SF $ Physical Data Property Type Site Size (AC) 0.22 Acres Site Size (SF) 9,670 Square Feet Site Coverage 77% Building Area (GLA) N/A Building Area (NRA) 7,400 Yr. Constructed 2007 Yr. Renovated N/A Zoning C-C Occupancy at Sale 0% Verification Steve Farrell, Lee & Associates Phone No. (602) The comparable represents the sale of an office building located in Phoenix, AZ. The building was constructed in 2007 and is situated on a 0.22 acre site. The building was 100% vacant at the time of the sale. The building consists of three levels. The top level is a penthouse residence with roof deck patio. The rest of the interior is high quality office build out and consists mainly of open creative space, and also has partitioned offices, break room, and partitioned offices. The property sold in December 2016 for $2,062,500, or $ per square foot. The buyer is an owner user who planned to occupy about 50% of the building, and lease out the rest of the space.
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