124,251-square-foot, value-add reposition opportunity in the heart of Metro Phoenix

phoenix, arizona 85021

Cushman & Wakefield, as exclusive advisor, is pleased to present an opportunity to acquire and

modernize for lease-up, 8620 North 22nd Avenue (the “Property”), a two-story office development

situated on ±7.3 acres just southeast of the Black Canyon Freeway (I-17) and Dunlap Avenue.

Encompassing 124,251 square feet, the Property offers investors a phenomenal reposition

opportunity in the revitalized Metrocenter submarket while featuring an amenity-rich environment,

freeway proximity, concentration of Fortune 500 companies, and access to large labor pools.

the offering Address: 8620 N 22nd Ave Phoenix, Arizona 85021

Year Built: 1985

Size: 124,251 square feet

Floors: 2-story

Occupancy: Vacant

Site Size: ±7.3 acres

Parking Ratio: 4/1,000

ReinvigoratedMetroCenter MallThe 1.4 million-square-foot super

regional mall is one of the most iconic

commercial developments along the I-

17 corridor and is a primary contributor

to the Property’s strong amenity base.

Metrocenter Mall opened its doors in

1973 as the first two-level, five-anchor

mall in the US and now has a current lineup of anchor tenants including

Dillard’s, Champs, Sears, and a 12-screen Harkins Theatre. Metrocenter

Mall underwent a large renovation project in 1986, and more recently,

substantial exterior upgrades were completed in 2006 and

approximately $32 million was invested into interior upgrades in 2007.

The Mall is once again in the midst of a new revitalization effort and, as

a result, has attracted several new tenants, the largest being a Walmart.

Catalyst for Future EconomicDevelopment

The Property is located in the heart of the Metrocenter submarket,

which is in the midst of a complete revitalization as a result of the City

of Phoenix’s approval of the Metrocenter Planned Unit Development

(PUD). This PUD initiative will support the evolution of Metrocenter

Mall from a large regional shopping destination to a central core vision

with increased density through multi-family housing, employment,

retail, entertainment, and enhanced transit opportunities. The City of

Phoenix is fostering the growth of a “village downtown” by creating

flexible development standards that will promote new development

and redevelopments with walkable amenities and light rail transit

options, along with encouraging greater density.

The Revitalized MetroCenter Regional Mall

23rd AVENUE

27th AVENUE

Light Rail Line19th AVENUE

PEORIA AVENUE

35th AVENUE

MetroCenter Mall

Rose MoffordSports Complex

Castles n’Coasters

Future Light Rail (2023 Completion)

6-Minute Walk

DUNLAP AVENUE

17

SUBJECTSTATION

23rd AVENUE

27th AVENUE

Light Rail Line19th AVENUE

PEORIA AVENUE

35th AVENUE

MetroCenter Mall

Rose MoffordSports Complex

Castles n’Coasters

“Walking distance to METRO Light Rail”

Future Light Rail (2023 Completion)

6-Minute Walk

DUNLAP AVENUE

Light Rail Stations/Stops

Corporate Presence in I-17Corridor

Numerous Fortune 500 companies have located along the I-17 due

to its dense population and ease of mobility. The Property’s corporate

neighbors include American Express, Best Western, Blue Cross/Blue

Shield, Bull, CenturyLink, Cox Communications, Discover Card,

Farmers Insurance, General West, Hartford Insurance, Honeywell,

Lucent Technologies, Mass Mutual, PetSmart, Pinnacle West Capital

Corporation, Safeway, Traveler’s Insurance, Tri West Healthcare,

United Healthcare, Waste Management, and Wells Fargo.

Access to Deep Labor PoolsThe Property’s location in the Metrocenter submarket distinguishes itself

from other submarkets by virtue of its tremendous access to labor.

Located near the Black Canyon Freeway (I-17), this unique submarket

enjoys immediate access to a vast

northwest labor pool unequaled in

other parts of the Valley.

Valley Metro Light Rail just north of the property on Dunlap

Sheraton Crescent Hotel is just minutes away

Walkable high-end multi-family housing

60

101

101

101

202

143

202

10

17

17Light Rail

Future LightRail Lines

Sky HarborInternational

Airport

Existing Light Rail

Future Light Rail

Future Freeway

PHOENIX

AHWATUKEEFOOTHILLS CHANDLER

MESA

SCOTTSDALE

PARADISEVALLEY

GOODYEAR

GLENDALE

PEORIA

RED MOUNTAIN FREEW

AYPAPAGO FREEWAY

SAN TAN FREEWAY

GERMANN ROADFUTURE SOUTH MOUNTAIN FREEEWAY

SUPERSTITION FREEWAY

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51

10

TEMPE

GILBERT

SUBJECT

DowntownPhoenix

“Large floor plates,ample glass lines, and

modern exterior areideal for today’s

workforce.”

AVAILABLESuite 100

60,019 RSF*

AVAILABLESuite 200

64,232 RSF*

Floor 1 Floor 2

* Floor plans are approximate, not to scale.

23rd Avenue

Black Canyon Freeway

MetroCenter Mall

SheratonCrescent

Alice AvenueDunlap Avenue

Freeway ProximityThe Property has long benefited from its proximity to the

I-17 freeway—one of the two major transportation corridors

traversing Metro Phoenix––with ±177,000 VPD that traverse the

I-17 at Dunlap Avenue. Direct access to the I-17 freeway is

enjoyed from Dunlap Avenue as well as Butler Drive to the south.

Highly Functional Office ProjectThe Property’s floor plates are suited for both full-floor users, up to 64,232

square feet, as well multi-tenant configurations to accommodate a collection

of small and medium sized tenants. The Property also offers tenants a

±4/1,000 parking ratio, providing investors with the opportunity to boost

operating income through monthly parking charges for covered canoopies.

Capital Markets

CHRIS TOCIExecutive Managing Director602 615 0999christopher.e.toci@cushwake.com

CHAD LITTELLManaging Director480 703 7953chad.littell@cushwake.com

Agency Leasing

ASHLEY BROOKSSenior Vice President602 735 1758ashley.brooks@cbre.com

23rd Avenue

Black Canyon Freeway

MetroCenter Mall

SheratonCrescent

Alice AvenueDunlap Avenue

17

Full-DiamondInterchange

Full-DiamondInterchange

cushmanwakefield.com