TEMPE PLACE 5454 S BECK AVE, TEMPE, AZ 85282 presented by: Shane Benjamin Senior Advisor shane.benjamin@insigniacre.com 602.566.7205 Neil Sherman Managing Director neil.sherman@insigniacre.com 602.566.7210 Insignia CRE 2198 E. Camelback Rd Phoenix, AZ 85016 P: 602.566.7200 www.insigniacre.com Ryan Kay Advisor ryan.kay@insigniacre.com 602.566.7203
EXECUTIVE SUMMARY OFFERING SUMMARY Sale Price: Market Price Price / Acre: - Lot Size: 3.53 Acres PROPERTY OVERVIEW Tempe Place is located on Beck Lane just south of Baseline and just east of the I-10 Freeway in Tempe, Arizona. The property presents a spectacular development opportunity situated just east of the I-10 Freeway and south of Baseline Road, and is ideal for a residential development. The +/-3.53 acre parcel is walking distance to Arizona Mills Mall and surrounding dining, shopping and entertainment amenities. The site is only a 5-minute drive from Phoenix Sky Harbor International Airport, Tempe Town Lake, Mill Avenue, and Arizona State University Main Campus. With ideal access to the I-10 and US 60 Freeways this location offers a great opportunity to develop one of the few infill locations left in the City of Tempe. Zoning: MU-3 Market: Tempe INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 // 2
CITY INFORMATION Tempe, AZ Tempe is located in the East Valley section of metropolitan Phoenix; it is bordered by Phoenix and Guadalupe on the west, Scottsdale on the north, Chandler on the south, and Mesa on the east. From its recent influx of high-rise residential and commercial developments to its ever-expanding downtown business and shopping district that extends well beyond Mill Avenue, Downtown Tempe is growing up, and it s apparent everywhere you turn. Downtown offers more than 100 restaurants, retailers and nightclubs that supply more than 20,000 jobs in the area, while the city s impressive list of major employers offers career opportunities with the likes of Microsoft, LifeLock, Waste Management and Silicon Valley Bank. Uniquely interconnected in every direction, Downtown Tempe offers Tempe Town Lake to the north, while Arizona State University sits east. The only walkable urban atmosphere anywhere in the Valley, Tempe s entertainment district is home to a one-of-a-kind combination of eclectic tastes, eternal entertainment options, authentic Southwestern and global eats and an endless variety of street performers who specialize in the weird, the wild and the whimsical. Hundreds of marathons and triathlons draw world-class athletes to town each year, while an abundance of community events attract everyone from culinary royalty to craft beer aficionados. Whether you re drawn to the nightlife or simply seeking a little rest and relaxation in the form of sunbathing, kayaking or exploring the great outdoors, Tempe has something for you. State Farm has committed to moving its corporate head quarters to Tempe. They are in the process of building a 2 million-square-foot facility just north of Sun Devil Stadium on the banks of Tempe Town Lake. City Highlights Arizona State University (83,301 Students) Mill Avenue District State Farms Corporate Head Quarters (2 Million Sq. Ft. Facility) INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 // 3
LOCATION MAPS INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 // 4
AERIAL MAP INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 // 5
SECTION 1 SALE COMPARABLES
1 SALE COMPARABLES SALE COMPS SUBJECT PROPERTY 5454 S Beck Ave Tempe, AZ 85282 Sale Price: Market Price Lot Size: 3.53 AC Price PSF: - Price / AC: - 1 AURA ON BRODWAY 1221 E Broadway Rd Tempe, AZ 85282 Sale Price: $750,000 Lot Size: 3.46 AC 1 Price PSF: $4.98 Price / AC: $216,763 Closed: 10/09/2012 2 LOTS 5A-5F - FOUNTAINHEAD CORPORATE PARK 2520 S Plaza Dr Tempe, AZ 85282 Sale Price: $7,292,141 Lot Size: 10.05 AC 2 Price PSF: $16.66 Price / AC: $725,586 Closed: 12/23/2013 3 THE GROVES AT BASELINE 3701 E Baseline Phoenix, AZ 85042 Sale Price: $1,650,000 Lot Size: 10.02 AC 3 Price PSF: $3.78 Price / AC: $164,670 Closed: 07/01/2015 INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 SALE COMPARABLES // 7
1 SALE COMPARABLES SALE COMPS SUMMARY SUBJECT PROPERTY PRICE LOT SIZE PRICE/SF PRICE/AC Tempe Place 5454 S Beck Ave Tempe, AZ 85282 Market Price 3.53 AC - - SALE COMPS PRICE LOT SIZE PRICE/SF PRICE/AC 1 2 3 Aura on Brodway 1221 E Broadway Rd Tempe, AZ 85282 Lots 5A-5F - Fountainhead Corporate Park 2520 S Plaza Dr Tempe, AZ 85282 The Groves at Baseline 3701 E Baseline Phoenix, AZ 85042 $750,000 3.46 AC $4.98 $216,763 $7,292,141 10.05 AC $16.66 $725,586 $1,650,000 10.02 AC $3.78 $164,670 PRICE LOT SIZE PRICE/SF PRICE/AC TOTALS/AVERAGES $3,230,714 7.84 AC $9.46 $412,080 INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 SALE COMPARABLES // 8
1 SALE COMPARABLES SALE COMPS MAP SUBJECT PROPERTY 5454 S Beck Ave Tempe, AZ 85282 AURA ON BRODWAY 1 1221 E Broadway Rd Tempe, AZ 85282 2 LOTS 5A-5F - FOUNTAINHEAD CORPORATE PARK 2520 S Plaza Dr Tempe, AZ 85282 THE GROVES AT BASELINE 3 3701 E Baseline Phoenix, AZ 85042 INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 SALE COMPARABLES // 9
SECTION 2 DEMOGRAPHICS
2 DEMOGRAPHICS DEMOGRAPHICS MAP POPULATION 1 MILE 2 MILES 3 MILES TOTAL POPULATION 20,435 58,677 113,842 MEDIAN AGE 27.1 28.5 30.8 MEDIAN AGE (MALE) 26.7 28.1 29.9 MEDIAN AGE (FEMALE) 28.2 29.2 31.5 HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES TOTAL HOUSEHOLDS 7,465 22,746 43,856 # OF PERSONS PER HH 2.7 2.6 2.6 AVERAGE HH INCOME $49,906 $54,102 $62,479 AVERAGE HOUSE VALUE $286,355 $239,307 $251,317 * Demographic data derived from 2010 US Census INSIGNIA CRE // 2198 E. CAMELBACK RD, PHOENIX, AZ // 602.566.7200 DEMOGRAPHICS // 11