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2803 E. CHAMBERS STREET, PHOENIX, AZ
INVESTMENT OPPORTUNITY
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 2
FOR MORE INFORMATION PLEASE CONTACT:
Table of Contents
Table of Contents:
Executive Summary ....................... 3
Property Overview ......................4-6
Location Summary ........................ 7
Lease Comps ................................. 8
Sales Comps .................................. 9
Tenant Overview .......................... 10
Income & Expense Summary ...... 11
Disclaimer ................................... 12
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 3
FOR MORE INFORMATION PLEASE CONTACT:
The 2803 E. Chambers St. property is a functional two-tentant 37,943 square foot manufacturing building located within the Southern Gardens Industrial Park in South Phoenix. The property offers features common to many industrial users with proximity to I-10 and access to manufacturing labor.
Chambers offers a stable income stream from tenants with a prolonged history in the property, offering a combination of national and regional credit tenants.
2801 E. Chambers St.Tenant: Climatech
Size: 12,164 SF Months
Term: March 31, 2020
Financial Highlights
Offering Price: $4,100,000
Price Per SF: $108.00
Year 1 NOI: $317,205.84
Cap Rate: 7.75%
Executive Summary
2803 E. Chambers St.Tenant: DXP
Size: 25,779 SF
Term: March 31, 2019
Lease Summary
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 4
FOR MORE INFORMATION PLEASE CONTACT:
Property Overview
PROPERTY: 2803 E. Chambers Drive
Phoenix, AZ 85040
SIZE: 37,943 SF
TYPE: Industrial/Freestanding
YEAR BUILT: 2000
BUILDING CONSTRUCTION: Tilt
ZONING: Industrial Park, City of Phoenix
LOT SIZE: 2.30 Acres (38% coverage)
LOADING: 5 Grade and 1 Truckwell
POWER: 2,000 Amps 277/480 Volt
PROPERTY TAXES: $51,931
PARCEL NUMBER: 122-53-122
CLEAR HEIGHT: 24’ Minimum
COMMENTS: » Well-maintained building
» Great image
» Functional for a variety of industrial uses
» Heavy power
» Secure park setting
» 360º maneuverability
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 5
FOR MORE INFORMATION PLEASE CONTACT:
Property Overview2803 East Chambers Street • ±37,943 SF For Sale or Lease2803 East Chambers Street • ±37,943 SF For Sale or Lease
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable.
For Further Information Contac t:
Mike HaenelIndustrial Group
Andy MarkhamIndustrial Group
Marc TuiteIndustrial Group
2803EChambersSt-MET
ROESER RDROESER RD
SOUTHERN AVESOUTHERN AVE
24
TH
ST
24
TH
ST
32
ND
ST
32
ND
ST
SUBJECT
BROADWAY RD
ROESER RD
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 6
FOR MORE INFORMATION PLEASE CONTACT:
Property Overview
BROADWAY RD.
ROESER RD.
SOUTHERN AVE.
UNIVERSITY DR.
24T
H S
T.
32N
D S
T.
40T
H S
T.
48T
H S
T.
UNIVERSITY DR. 143
NO
RT
H
Sky HarborInt'l Airport
Pric
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ima
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Papago Fwy.
Maricopa Fwy.
Squ
aw P
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Pkw
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Bla
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anyo
n Fw
y.
Red Mountain Fwy.
Pima Fwy.Agua Fria Fwy.
Sun Valley Pkwy.
Santan Fwy.South Mountain Fwy.
87
MAIN ST.
Baseline Rd.
Dea
n R
d.
Wat
son
Rd.
Mill
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d.
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Rd.
VAL
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CHANDLERGILBERT
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SUNCITY
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LITCHFIELDPARK
SUNCITY
WEST
FOUNTAINHILLS
BUCKEYE
PEORIA
Gila River
Salt River
PHOENIX
NO
RTH
MCDOWELL RD.
Superstition Fwy.
RU
RA
L R
D.
SC
OTT
SD
ALE
RD
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BEELINE HWY.
LINCOLN DR.GLENDALE AVE.
PEORIA AVE. SHEA BLVD.
CAMELBACK RD. MCDONALD DR.
AR
IZO
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AVE
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McQ
UE
EN
RD
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CO
OP
ER
RD
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BASELINE RD.
BELL RD.
UNION HILLS DR.
THUNDERBIRD RD.
BUCKEYE RD.YUMA RD.
BROADWAY RD. BROADWAY RD.
JAC
KR
AB
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TR
.
CO
TTO
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N.
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L AV
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ELLIOT RD.
CHANDLER BLVD.
RAY RD.
GUADALUPE RD.
WARNER Rd.
32N
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MCDOWELL RD.
UNIVERSITY DR.
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AVE
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44TH
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TEMPE
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SCOTTSDALE
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BELL RD.
MCDOWELL RD.
Rai
nbow
Val
ley
Rd.
PhoenixGoodyear Airport
BROADWAY RD.GOODYEAR
GLENDALE AVE.
NORTHERN AVE.
CAMELBACK RD.
MCDOWELL RD.
101
303
Est
rella
Fw
y.
SURPRISE
WADDELL RD.
51
LukeAFB
PR
IES
T D
R.
DEER VALLEY RD.
BELL RD.
TOLLESON VAN BUREN ST.
Chandler MunicipalAirport
GERMANN RD.
51S
T AV
E
16TH
ST.
Location Summary
• 1.5 Miles South of the I-10
• 7 Minutes to Sky Harbor International Airport
• Full built-out business park
• Proximity to competitive labor
SUBJECT
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 7
FOR MORE INFORMATION PLEASE CONTACT:
Location Summary
ROESER RD.
24T
H S
T.
32N
D S
T.
SOUTHERN AVE.
CHAMBERS ST.
NO
RT
H
LEE & ASSOCIATES BROKER OPINION OF VALUE
SUBJECT PROPERTY
2803 E. Chambers, Phoenix, AZ 85040
The 2803 E. Chambers property is a highly functional freestanding building that can accommodate a wide variety of industrial users. Currently leased by Clim-A-Tech and DXP for ± 3 years, the property offers a stable cash flow for an investor from tenants that have over 10 years of tenancy in the building. With a two-tenant configuration, the property offers a mix of national credit with regional credit tenancy. The improvements in the building such as overhead crane, power distribution and paint booth are specific to one of the tenants and will bolster confidence from investors on the likelihood of a lease renewal. Located just 1.5 miles south of I-10, the property affords users direct freeway access to the entire Valley, with Sky Harbor International Airport just 7 minutes from the property. The immediate park surroundings of Southern Gardens is home to several owner-occupied buildings, which holds pride of ownership. Accordingly, most of the neighboring properties are of similar vintage and functionality. A list of the corporate neighbors includes: District Photo
Arcadia, Inc.
American Refrigeration Supply
Centric Elevator
Culligan
Galleher Hardwood
Western Window
LOCATION SUMMARY
Located just 1.5 miles south of I-10, the property affords users direct freeway access to the entire Valley, with Sky Harbor International Airport just 7 minutes from the property. The immediate park surroundings of Southern Gardens is home to several owner-occupied buildings, which holds pride of ownership. Accordingly, most of the neighboring properties are of similar vintage and functionality.
A list of the corporate neighbors includes:
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 8
FOR MORE INFORMATION PLEASE CONTACT:
Lease Comps
2040 W. Rio Salado, TempeTenant: Express ScriptsSize: 81,300 SFTerm: 123 MonthsStart Rate: $0.685/SF NNNIncreases: 2.5%/YearDate: Sept, 2016
Tenant: Rofo MasterSize: 25,920 SFTerm: 60 MonthsStart Rate: $0.67/SF NNNIncreases: $0.02/SF/YearDate: Sept, 2016
Tenant: Machl GlobalSize: 22,558 SFTerm: 65 MonthsStart Rate: $0.60/SF NNNIncreases: $0.02/SF/YearDate: Feb, 2016
Tenant: United Printing & MailingSize: 30,920 SFTerm: 36 MonthsStart Rate: $0.63/SF NNNIncreases: $0.02/SF/YearDate: Jan, 2016
318 S. Dobson, Mesa
4830 S. 38th St. Phoenix
2250 S. Riverview, Phoenix
1
2
4
3
60
143
60
101
202
101
101
202
202
KEN MCQUEENBRIAN PAYNE602.956.7777 BASELINE RD.
SOUTHERN AVE.
BROADWAY RD.
UNIVERSITY DR.
VAN BUREN ST.
WASHINGTON ST.
24T
H S
T.
32N
D S
T.
40T
H S
T.
48T
H S
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PR
IES
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ON
RD
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1
2
3
4
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 9
FOR MORE INFORMATION PLEASE CONTACT:
Sales Comps
Sales Price: $3,512,410Size: 34,156 SFPrice/SF: $102.83Sale Date: Dec, 2015Year Built: 2007
Sales Price: $4,800,000Size: 48,362 SFPrice/SF: $99.25Sale Date: Oct, 2015Year Built: 2004
Sales Price: $2,750,000Size: 29,000 SFPrice/SF: $94.83Sale Date: May, 2015Year Built: 1997
Sales Price: $11,500,000Size: 112,574 SFPrice/SF: $102.16Sale Date: Oct, 2015Year Built: 1996
2105-2114 W. 7th St. Tempe
779 N. Colorado, Gilbert
7150 W. Erie, Chandler
101
101
6060
202
202
143
BASELINE RD.
GUADALUPE RD.
ELLIOT RD.
WARNER RD.
RAY RD.
CHANDLER BLVD.
MC
CLI
NTO
CK
DR
.
RU
RA
L R
D.
PR
IES
T D
R.
48T
H S
T.
40T
H S
T.
32N
D S
T.
DO
BS
ON
RD
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SOUTHERN AVE.
BROADWAY RD.
UNIVERSITY DR.
ALM
A S
CH
OO
L R
D.
AR
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NA
AV
E.
MC
QU
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D.
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RD
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RD
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LIN
DS
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D.
VA
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ISTA
DR
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GR
EE
NFI
ELD
RD
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PECOS RD.
GERMANN RD.
CHANDLER MUNICIPALAIRPORT
202
GILA RIVERINDIAN COMMUNITY
120,000 SF
24T
H S
T.
16T
H S
T.
7TH
ST.
1
2
CE
NT
RA
L A
VE
.
7TH
AV
E.
4
MESAFALCONFIELD
3
STELLARAIRPARK
KEN MCQUEENBRIAN PAYNE602.956.7777
8207 S. Priest, Tempe 1
2
3
4
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 10
FOR MORE INFORMATION PLEASE CONTACT:
Tenant Overview
2801 E Chambers St
Clim-A-Tech2803 E Chambers St
DXP
Clim-A-Tech manufactures plastic profile extrusions and fabricates die-cut components of flexible materials. With locations in Phoenix, AZ and Hopkins, MN Clim-A-Tech is an employee owned company, with over 47 years of experience.
Clim-A-Tech has a long history of supplying products to Window & Door Companies, Appliance Manufacturers, Recreational Industry, Technology Sector, Refining/Mining Industry, Medical Industry, Retail and other Industrial/Commercial Markets.
www.clim-a-tech.com
DXP is a publicly held company; who is a leading products and service distributor to industrial customers throughout the United States, Canada and Sonora, Mexico in virtually every industry since 1908.
DXP provides Innovative Pumping Solutions (IPS), Supply Chain Services and maintenance, repair, operating and production (MROP) Products and Services.
www.dxpe.com
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 11
FOR MORE INFORMATION PLEASE CONTACT:
Income and Expense SummaryKenneth O. McQueen
Principal
(602)474-9564
Square Lease Monthly Monthly Increases Annual Tenant Feet End Rate Rent (NNN) Rent (NNN)
Climatech 12,164 3/31/2020 0.697$ 8,474.25$ 101,691.00$ 1164sf office
0.703$ 8,555.37$ 102,664.44$ 4/1/2017
0.710$ 8,636.44$ 103,637.28$ 4/1/2018
0.717$ 8,717.53$ 104,610.36$ 4/1/2019DXP 25,779 3/31/2019 0.697$ 17,959.57$ 215,514.84$ 8520sf office
0.703$ 18,131.23$ 217,574.76$ 4/1/20170.710$ 18,303.09$ 219,637.08$ 4/1/2018
Project Total 37,943 0.697$ 26,433.82$ 317,205.84$
Comments
2803 East Chambers, Phoenix, AZCurrent Rent Roll
Annual Monthly/SFProperty Taxes 51,931.00$ 0.114Property Insurance 5,150.00$ 0.011Property Maintenance 13,086.00$ 0.029Administrative/Management 8,881.00$ 0.020
Total Operating Expenses 79,048.00$ 0.174
2803 E. Chambers Operating Expenses
INVESTMENT OFFERING2803 E. Chambers St.
KEN [email protected] 12
FOR MORE INFORMATION PLEASE CONTACT:
Disclaimer
Lee & Associates Arizona (“Agent”) has been engaged as the exclusive agent for the sale of 2803 E. Chambers Street, located in Phoenix, Arizona (the “Property”), by the owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent make no representation or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. Neither the enclosed materials nor any information contained herein is to be used for any other purpose or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed, should be registered with Lee & Associates as a “Registered Potential Investor” or as “Buyer’s Agent” for an identified “Registered Potential Investor”. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confidentiality agreement furnished by the Agent prior to delivery of this offering memorandum.
The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solelyresponsible. The material contained herein is based on information and sources deemed to be reliable but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or make available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein.
Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for anyreason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest oroffers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller’s obligations hereunder have been satisfied or waived.