Overview
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire The Park at San Tan (the “Property”), a premier Class A office investment situated within one of Chandler’s most recognizable and vibrant business corridors. Comprising approximately ±217,123 rentable square feet, a 5-story multi-tenant building and an adjacent 4-level parking structure, the Property combines institutional quality, large, efficient floor plates, and a highly amenitized setting within the Chandler submarket, one of the region’s most established corporate office locations.
Currently 77% leased with 6.6 years of weighted average lease term remaining, The Park at San Tan provides investors with durable in-place cash flow and a clear path to additional value creation through lease-up of existing vacancy and future rental rate growth. The Property’s strong historical occupancy, diversified tenancy, and strategic location within a demand-driven office corridor, position Park at San Tan to continue attracting quality tenants seeking image, access, and convenience.
Developed in 2007 and meticulously maintained, the Property features flexible approximately 45,000-square-foot floor plates, a recently added tenant lounge and conferencing center, and a parking field that includes a 4.5: 1,000 SF parking ratio through structured and surface parking. Combined with immediate access to a robust mix of walkable on-site and nearby retail, dining, hospitality, and service amenities, The Park at San Tan offers a rare opportunity to acquire a high-image Chandler office asset at a basis meaningfully below replacement cost.
Investment Highlights
INSTITUTIONAL QUALITY CHANDLER OFFICE OPPORTUNITY IN A TOP-TIER OFFICE SUBMARKET IN METRO PHOENIX :: The Park at San Tan offers the opportunity to acquire a premier Class A office asset totaling approximately +217,123 rentable square feet within one of Chandler’s most sought-after office submarkets, combining institutional-quality construction, high-image design, and a strategic location along Loop 101 Freeway with immediate access and visibility.
- Immediate Freeway Access (Full Diamond Interchange)
- Abundant Loop 101 Freeway frontage and visibility to over 185,000 vehicles per day
- 2007 Vintage- provides a low-maintenance, limited near-term capital cost investment opportunity
DURABLE IN-PLACE CASH FLOW WITH NEAR-TERM LEASING UPSIDE :: Currently 77% leased with 6.6 years of weighted average
lease term remaining, the Property provides stable in-place income today while offering meaningful upside through the lease-up of existing vacancy and the ability to capture future rent growth as space rolls within a historically well-occupied asset.
A CONSISTENTLY WELL-OCCUPIED ASSET :: Averaging 91.6% occupancy over the past 15 years and 90.2% over the past decade, The Park at San Tan has consistently enjoyed one of the highest historical occupancy profiles for a Class A office across all of Metro Phoenix. The quality and location of the Property have provided a tremendous ability to attract and retain quality tenants in a demand-driven office corridor.
LARGE, FLEXIBLE FLOOR PLATES SUPPORT BROAD TENANT DEMAND :: The Property features efficient floor plates of approximately 45,000 square feet with stairwells on each floor, allowing each floor to accommodate a wide range of full-floor
and multi-tenant users and enhancing long-term leasing optionality within the Chandler submarket.
HIGHLY AMENITIZED, HIGH-IMAGE OFFICE ENVIRONMENT :: The Property has been institutionally maintained and is differentiated by an attractive mixed-use campus setting, a tenant lounge and conferencing center, and immediate connectivity to surrounding retail and service amenities that elevate the tenant experience and strengthen competitive leasing position.
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