10835 N 25th AvePhoenix, AZ 85029
Black Canyon Center
Asset ClassOffice
Overview
- Three-story, high-quality office building totaling ±96,783 SF
- 22% leased with a clear path to significant upside by having the lowest basis in the trade area and implementing a spec suite program to stabilize.
- There are no available spec suites in the building's competitive set to capture tenant demand—specifically from tenants 6,000 SF or smaller.
- Flexible floor plates averaging ±32,200 SF with ideal bay depths to efficiently accommodate small-, medium-, and large-sized tenants.
- Buildings <50,000 SF with floor plates that only mostly accommodate small tenants boast a healthy a ±7.5% vacancy rate YTD within a 3-mile radius.
- Over ±291,000 SF have been leased by tenants with an average size of ±2,175 SF in 130+ transactions within a 3-mile radius from Black Canyon Center since January 2024.
- Large tenant (20,000+ SF) demand is returning to the metro Phoenix market, with a ±20% Year-Over-Year increase in transaction activity in 2024.
- Located within an opportunity zone.
- Transit-oriented location within the Black Canyon Corridor, which is known for its immediate Interstate-17 (I-17) access and deep labor pool access.
- The Metro Light Rail’s Northwest Extension Phase II, which was completed January 2024, is located less than one (1) mile from the property.
- ±2.3 million SF of retail amenities within a three (3) mile radius, which include a wide variety of restaurants and fast-food chains, as well as several shopping options.
- One (1) mile from Metrocenter Mall’s $850 million redevelopment site, which will include over 1,000 for-rent and for-purchase townhomes, retail spaces, restaurants, parks, bike paths and more.
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10835 N 25th AvePhoenix, AZ 85029
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Listing provided by Revere CRE