Newmark is proud to exclusively present the opportunity to acquire the fee-simple interest in a premier ±25-acre redevelopment opportunity in Tempe, AZ, located at the SWC of Priest & Alameda (the “Property”). This exceptional opportunity currently features five vacant office buildings totaling ±421,000 SF, formerly utilized as State Farm Insurance’s Operations Center, two parking structures, and a freestanding ±41,000 SF, 100% HVAC industrial building that is ideal for re-tenanting and/or owner-user purposes. The Property provides a compelling opportunity to demolish much of the existing site, and redevelop this infill parcel to raze industrial, data center, multifamily, business park, or alternative highest and best use.

The Property represents an extremely rare opportunity to purchase a highly functional parcel in one of the most central locations in Metro Phoenix. Furthermore, SRP has provided initial indication of 150 MW of power potential at the site, opening up the potential opportunity for a data center or heavy power manufacturing in the future.