505 W University Dr
Tempe, AZ 85281
Office Property For Sale

We are pleased to present this 15 year Absolute NNN lease for a property located at 505 W University Drive in Tempe Arizona. The site lies just west of Arizona State University's (ASU) main campus. ASU is one of the largest public universities by enrollment in the U.S. It had approximately 72,000 students enrolled in fall 2017, including 59,198 undergraduate and 12,630 graduate students. The site has excellent exposure and visibility along University Drive, with almost 34,000 vehicles per day passing the site. Immediately to the north is a $100M development project that is under construction which includes 286 apartment units and a Whole Foods (expected completion in Q1 2019). The site is leased to Gadzooks Enchiladas and Soup which is a very successful, locally operated, concept that has 3 locations in the valley. The real estate is A+ located in the heart of Tempe. This property is an ideal 1031 exchange property.