1750 SOUTH MESA DRIVEMesa, Arizona 85210
OWNER USER OPPORTUNITY
GREGG [email protected]
R. CRAIG COPPOLACCIM, CRE, [email protected]
ANDREW CHENEY CCIM, CRE, [email protected]
2 | 1750 SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA
1750 South Mesa DriveOWNER USER OPPORTUNITY
Contents
Executive Summary ..........................................................................................................................................................................4
Property Overview .............................................................................................................................................................................8
Market Overview ..............................................................................................................................................................................11
GREGG [email protected]
R. CRAIG COPPOLACCIM, CRE, [email protected]
ANDREW CHENEY CCIM, CRE, SIOR [email protected]
DEVELOPMENT SITE
Asset ProfileAddress: 1750 S. Mesa Drive Mesa, AZ 85210
Sale of Interest: Fee simple
Zoning: M-1, PAD, City of Mesa
Total Size: 40,980 SF
Site Acreage: ±4.75 Acres
Parking: 126 spaces (7 covered)
Year Completed: 1987
Parcel #: 139-49-010A (part of larger parcel) 139-49-010B
4
EXECUTIVE SUMMARY
4 | 1750 SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA
Property Highlights• FUTURE DEVELOPMENT OPPORTUNITY
Owner-user sale at 1750 S. Mesa Drive, including the sale of the adjacent vacant ±1.5 acre parcel which is zoned for a building up to ±9,000 square feet. This vacant parcel permits an owner flexibility to address the potential future needs of the existing tenant or develop a building for lease-up. As a result, this offering presents a unique upside development opportunity with timing dictated by the new owner.
• STRATEGIC MESA LOCATION The Property is located on Mesa Drive in Mesa, AZ, a major north/south thoroughfare with direct access to the Superstition Freeway (U.S. 60) less than 200 yards from the Property. Mesa holds the distinction of being the 3rd largest city in Arizona and the 38th largest in the United States. The City of Mesa is strategically positioned for businesses to access and serve the global economy. Smart companies such as Apple, Boeing, Bridgestone, FUJIFILM, Mitsubishi, Ulthera and MD Helicopters all have large operations in Mesa.
EXECUTIVE SUMMARY
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MAIN ST.
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Floor Plans PROPERTY SUMMARY
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FIRST FLOOR
SECOND FLOOR
FRESENIUS
FRESENIUS
FRESENIUS
FRESENIUS
SUITE 105 3,085 SF
12,228 SF
FRESENIUS
FRESENIUS
TRANSPORTATIONWith three airports within minutes and a rapidly expanding urban freeway system, the Superstition Corridor has an excellent transportation network. The major transportation feature is, of course, the Superstition Freeway (US 60), which provides direct access to Tempe and to Phoenix via Interstate 10. Additionally, the Price Freeway (Loop 101) has increased access to the Superstition Corridor from Chandler, Tempe, Mesa and Scottsdale, while the San Tan Freeway (Loop 202) will complete the submarket’s access to the Greater Phoenix freeway system when it links Interstate 10 and the Price Freeway upon its completion.
Phoenix’s Sky Harbor International Airport can be reached within 20 minutes from most of the Superstition Corridor. A few miles south of this submarket, Williams Gateway Airport offers complete local aviation facilities to industrial and commercial development and, with three 10,000-foot runways, acts as a reliever for Sky Harbor. One of the top ten general aviation airports in the nation, Falcon Field Airport lies within a few miles north of the Superstition Corridor.
The Superstition Corridor is also served by the main line of the Union Pacific railroad.
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1750 SOUTH MESA DRIVE / LEE & ASSOCIATES ARIZONA
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PROPERTY OVERVIEW
8 | 1750 SOUTH MESA DRIVE \ LEE & ASSOCIATES ARIZONA
The MarketAs one of the fastest growing regions in the nation for the last several decades, Phoenix now stands as the nation’s sixth largest city and fourteenth largest metropolitan area. Phoenix has received numerous accolades over the last few years due to its growth, low cost of living and appealing business environment.
• KTAR news reports “Mesa Beats out Phoenix in 2018 Rankings of Best Big Cities to Live In”• Fortune ranked Phoenix as having the #5 fastest growing tech market.• Inc. Magazine recognized Phoenix as one of the Top 20 U.S. cities for start-up companies.• Forbes recognized Phoenix as a Top 10 next big boomtown in the U.S. and metropolitan Phoenix as the 11th fastest growing metro
area in the country.• Azcentral.com reported “Arizona economic forecast: Another strong year, no recession in sight”
Vacancy in the Phoenix office market fell from 19.39% in Q1 to 18.61% in Q2 of 2018 as vacancy rates continue to be the lowest since 2008. Office rental rates continue to remain steady at $25.22, dropping just $0.54 from the previous quarter The Mesa office market posted strong and steady numbers in Q2 with the surge of employment opportunities, positive rental rates, and low vacancy rate. As we close down the first half of the year, the Q2 office market portrays favorable statistics for the rest of the year
DYNAMIC GROWTH AREA
Within a three mile radius of 1750 South Mesa Drive the population is expected to grow 7.6% from 2018 to 2023. This consistent, steady growth is nearly 50% greater than that of the nation and portends a strong future business climate for the area. Mesa was recently ranked number one in Arizona as the best big City to live in and No. 15 in the United States, according to a new study. The rankings were based on data from 52 metrics that were condensed to five categories: affordability, economy, education and health, quality of life and safety. Mesa earned its highest score in the affordability category, ranking fourth.
MARKET OVERVIEW
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GREGG [email protected]
R. CRAIG COPPOLACCIM, CRE, [email protected]
ANDREW CHENEY CCIM, CRE, [email protected]
1750 South Mesa DriveMesa, Arizona 85210
Owner User Opportunity