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Avison Young Brings Downtown Phoenix Gateway Urban Redevelopment to Market
A two-story, 53,000-square-foot office/flex building in Phoenix’s Downtown Gateway submarket is on the market. The 3.3-acre site at 1500 North Central is unpriced and will be sold on a best offer basis.
Avison Young’s Jonathan Larsen, Mark Seale and Sally Zesut are bringing the redevelopment opportunity to market on behalf of the seller.
Seale says, “This corner property is one of the last major urban redevelopment opportunities in Phoenix. With zoning that allows for a mix of potential uses including multifamily, office, healthcare, and retail, it provides an opportunistic investor with a prime redevelopment opportunity.”
Built in 1994, the property offers 187 parking spaces. The current tenant plans to vacate shortly after the close of escrow.
The listing team anticipates strong buyer interest for the asset from California including those seeking value due to Arizona’s lower taxes and construction costs, in addition to other business friendly advantages.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition