This ±40,116-square-foot two-story flex building on ±6.735 acres is offered for sale. Located at 411 N. Roosevelt Avenue in Chandler, Arizona, the building is fully leased and the land allows additional development.
The property is leased to Connect 202 Partners, LLC, a consortium of institutional credit, public works contractors. Lease start date was September 1, 2016, with a lease term of 54 months. Extension options: one, six-month extension and then two, three-month extensions, for a total of one-years’ worth of extensions.
Connect 202 Partners is designing and constructing the $1 billion+ project to construct and maintain for 30 years the extension of the Loop 202 freeway.
Future potential: 411’s stabilized mid-term income is augmented by a variety of development and re-use options that will create even greater long potential for creating value. 411 is situated on five parcels ranging in size from 1.17 acres to just under 1.4 acres (total area is ±6.75 acres). Each parcel is zoned I-1, allowing for a wide variety of industrial and related commercial uses.
The parcels all feature street frontage and could be developed individually or with adjoining parcels as part of a multi-phase development, affording an owner flexibility to sell smaller lots or develop as build-to-suit. Alternatively, the existing building could remain and the two eastern-most parcels could be sold or redeveloped separately.
411 North Roosevelt was a newspaper printing facility. Along with office and distribution spaces, 411 features a 36-foot clear-height area (former printing press location), 4000 amps of power, thick vibration resistant foundations, industrial elevator, and a stairwell that leads to a third floor cat-walk that could be converted to mezzanine or would be an ideal environment for a modern creative workplace.
In addition to more traditional industrial applications, the building is well suited to accommodate lab space, data centers, employee intensive an educational applications, functions requiring a clean room, or any uses where high ceilings or a more substantial foundation are necessary.
