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MULTIFAMILY INVESTMENT OPPORTUNITY 467 Units 615/710 South Hardy Drive | Tempe, Arizona 85281 STUDIO 710/STANDARD Presented by Jim Crews & Brett Polachek
Transcript of STUDIO 710/STANDARD - Cushman & Wakefield ffffifl˝˘ STUDIO 710 THE STANDARD ffffifl˝ffi flffi ...
Four Peaks
Red Mtn.
Marina Heights& State Farm HQ
Tempe Town Lake
Hayden Ferry Lakeside
A r i zo n AS tAt e
U n i v e r S i t yTempe Center
for the Arts
McDowell Mtns.
FirstSolar
HaydenFlourMill
PhoenixZoo
Usery Mtns.
WellS FArgoArenA
Mesa RiverviewCasinoArizona
SUn DevilStADiUm
TopGolf
TalkingStick
Resort
PapagoPark
LOOP
LOOP
LOOP
LOOP
MILL AVENUE
UNIVERSITY DRIVE
UNIVERSITY DRIVE
DowntownTempe
Old TownScottsdale
HARDY DRIVE
HARDY DRIVE
MILL AVENUE
MCCLINTOCK DRIVE
RURAL ROAD
SCOTTSDALE ROAD
Tempe Marketplace
SaltRiverFields
RIO SALADO PARKWAY
RIO SALADO PKY
Tempe Beach Park
MarqueeTheatre
Hayden Butte
Sloan Park
STUDIO 710
THESTANDARD
Tempe
mesa
LIGHT RAILSTATION
LIGHT RAILSTATION LIGHT RAIL
LIGHT RAIL
scoTTsdale
JP MorganChase
GeneralDynamicsHonorHealth
OsbornMedical Ctr.
MULTIFAMILY INVESTMENT OPPORTUNITY
467 Units
615/710 South Hardy Drive | Tempe, Arizona 85281
STUDIO 710/STANDARD
Presented by Jim Crews & Brett Polachek
• Built in 1971 and 1975, asset achieves strong yields with an improving rent roll in the superior Tempe submarket.
• Recently remodeled leasing centers and outstanding common area amenities in a low density setting.
• Operational upside utilizing an interior renovation plan with the ability to increase effective rents and add value based on strong occupancy and projected rent growth.
• Dynamic Tempe location within walking distance of Arizona State University, the nation’s largest higher learning institution.
• Downtown Tempe offers a variety of restaurants and nightlife venues located immediately east of the community within walking distance.
• The recently completed Marina Heights development, which acts as a regional hub for State Farm Insurance, features over 2 million square feet of office and 60,000 square feet of retail. This mixed-use project is within walking distance and will ultimately employ over 10,000 residents.
• Recreational opportunities nearby include baseball at Sloan Park, spring training home of the Chicago Cubs, watersports at Tempe Town Lake, and hiking at Papago Park.
• World-class employment generators in the immediate area, including JP Morgan Chase & Co., Arizona State University, First Solar, Casino Arizona, State Farm Insurance, and GoDaddy.
• Priced well below replacement costs with ability to utilize new debt.
INVESTMENT HIGHLIGHTS
UNITS
UNIT TYPE # OF UNITS
SQUARE FEET TOTAL SF
STUDIO 96 350 33,600
JR. 1BD/1BA 142 450 63,900
1BD/1BA 21 600 12,600
2BD/1BA 174 800 139,200
2BD/2BA 1 1,000 1,000
3BD/1BA 33 1,000 33,000
TOTAL/AVERAGE 467 607 283,300
COMMUNITY AMENITIES• Swimming pools (3) • Business center• Fitness centers (2) • Covered parking• Dog park• Laundry facilities (3)• Outdoor yoga/zen space• Lawn games/bocce ball• Fire pit with lounge
seating
• Cabanas with free WiFi• Sport court• Fitness track• BBQ grills/picnic area• Easy access to freeways,
shopping, restaurants, and entertainment venues
• University shuttle service (Orbit)
UNIT AMENITIES• Washer & dryer hook-ups*• Extra storage*• Faux wood flooring*• Private balcony or patio*• Flat-screen TVs*• Garbage disposals• USB outlets*• Large closets• Medicine cabinets
• Microwaves*• Neutral paint scheme
with accent walls• Ceiling fans • Fully equipped kitchens
including refrigerators, ranges and dishwashers
• Modern cabinetry hardware
• Vertical blinds• Internet/Cable ready
STUDIO 710/STANDARD
*select units
2555 East Camelback Road, Suite 300 Phoenix, Arizona 85016(602) 253 7900
For more information, please contact:
JIM CREWSSenior Director(602) 229 [email protected]
BRETT POLACHEKDirector(602) 229 [email protected]
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein and same is submitted subject to error, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principal.
To view and download the Offering Memorandum, please visit:
https://multifamily.cushwake.com/Listings/Studio710Standard
Four Peaks
Red Mtn.
Marina Heights& State Farm HQ
Tempe Town Lake
Hayden Ferry Lakeside
A r i zo n AS tAt e
U n i v e r S i t yTempe Center
for the Arts
McDowell Mtns.
FirstSolar
HaydenFlourMill
PhoenixZoo
Usery Mtns.
WellS FArgoArenA
Mesa RiverviewCasinoArizona
SUn DevilStADiUm
TopGolf
TalkingStick
Resort
PapagoPark
LOOP
LOOP
LOOP
LOOP
MILL AVENUE
UNIVERSITY DRIVE
UNIVERSITY DRIVE
DowntownTempe
Old TownScottsdale
HARDY DRIVE
HARDY DRIVE
MILL AVENUE
MCCLINTOCK DRIVE
RURAL ROAD
SCOTTSDALE ROAD
Tempe Marketplace
SaltRiverFields
RIO SALADO PARKWAY
RIO SALADO PKY
Tempe Beach Park
MarqueeTheatre
Hayden Butte
Sloan Park
STUDIO 710
THESTANDARD
Tempe
mesa
LIGHT RAILSTATION
LIGHT RAILSTATION LIGHT RAIL
LIGHT RAIL
scoTTsdale
JP MorganChase
GeneralDynamicsHonorHealth
OsbornMedical Ctr.
