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2800 & 2702 N 44th St 2 Office Properties Offered at $22,500,000 in Phoenix, AZ
INVESTMENT HIGHLIGHTS
- Unmatched Development Potential with Permanent 360° Views of Greater Phoenix
- The Epicenter of Phoenix’s Most Dynamic Luxury Transformation
- Core Phoenix Location Backed by Strong Market Fundamentals
- Arcadia Demographics Expanding South – Elevating the Entire Site Affluent Surroundings & Regentrification Momentum
EXECUTIVE SUMMARY
2800 Building - Asking Price: $15,750,000 ($94 PSF)
2702 Building - Asking Price: $6,750,000 ($113 PSF)
Total $22,500,000
Unmatched Development Potential with Permanent 360° Views of Greater Phoenix
CBRE, Inc., as exclusive advisor, is pleased to present the opportunity to acquire 2800 & 2702 N 44th Street, a ±7.66-acre site located in Phoenix, Arizona.
This location on the prominent corner of N 44th Street and E Thomas Road benefits from the rapid regentrification in the neighboring Arcadia, Arcadia Lite, and Lower Arcadia, three of Phoenix’s most affluent and sought-after neighborhoods. Strong demographics, limited supply of new multifamily projects, and immediate access to convenient and popular amenities make this project an attractive repositioning opportunity.
Investment Highlights
2800 Building – Existing Structure with Redevelopment Upside
? The 2800 Building soars 11 stories above the skyline of low- and mid-rise structures of the area.
? This landmark site’s prime exposure provides excellent visibility for impactful business signage, and tenants enjoy sweeping views of the expansive landscape of the Greater Phoenix area.
? The tower can be delivered entirely vacant, offering a rare opportunity for a high-end and modern office retrofit with owner-user occupancy potential, adaptive reuse of the existing structure to multifamily community, or full-scale redevelopment to a condominium and townhome project.
2702 Building – Shovel-Ready Development Site
? 2702 N 44th Street parcel is fully-entitled for a Planned Unit Development (PUD) known as The Pinnacle Club featuring 164 luxury one- and two-bedroom apartment units built over a ground-level commercial podium. This site includes: Approved architectural plans and renderings | Full building designs | Entitlements for immediate construction
2702 Building - Asking Price: $6,750,000 ($113 PSF)
Total $22,500,000
Unmatched Development Potential with Permanent 360° Views of Greater Phoenix
CBRE, Inc., as exclusive advisor, is pleased to present the opportunity to acquire 2800 & 2702 N 44th Street, a ±7.66-acre site located in Phoenix, Arizona.
This location on the prominent corner of N 44th Street and E Thomas Road benefits from the rapid regentrification in the neighboring Arcadia, Arcadia Lite, and Lower Arcadia, three of Phoenix’s most affluent and sought-after neighborhoods. Strong demographics, limited supply of new multifamily projects, and immediate access to convenient and popular amenities make this project an attractive repositioning opportunity.
Investment Highlights
2800 Building – Existing Structure with Redevelopment Upside
? The 2800 Building soars 11 stories above the skyline of low- and mid-rise structures of the area.
? This landmark site’s prime exposure provides excellent visibility for impactful business signage, and tenants enjoy sweeping views of the expansive landscape of the Greater Phoenix area.
? The tower can be delivered entirely vacant, offering a rare opportunity for a high-end and modern office retrofit with owner-user occupancy potential, adaptive reuse of the existing structure to multifamily community, or full-scale redevelopment to a condominium and townhome project.
2702 Building – Shovel-Ready Development Site
? 2702 N 44th Street parcel is fully-entitled for a Planned Unit Development (PUD) known as The Pinnacle Club featuring 164 luxury one- and two-bedroom apartment units built over a ground-level commercial podium. This site includes: Approved architectural plans and renderings | Full building designs | Entitlements for immediate construction
PROPERTY FACTS
| Price | $22,500,000 | Number of Properties | 2 |
| Price / SF | $108.34 / SF | Individually For Sale | 0 |
| Sale Conditions | Total Building Size | 207,687 SF | |
| Sale Type | Investment | Total Land Area | 7.76 AC |
| Status | Active |
| Price | $22,500,000 |
| Price / SF | $108.34 / SF |
| Sale Conditions | |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 207,687 SF |
| Total Land Area | 7.76 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Tower44
2800 N 44th St, Phoenix, AZ 85008 |
Office | 150,835 SF | 1986 | - |
|
Bldgs A & B
2702 N 44th St, Phoenix, AZ 85008 |
Office | 56,852 SF | 1982 | - |
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2800 & 2702 N 44th St
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