20 E Thomas — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Phoenix, AZ 85012
  • Size: 548,938 SF

Description

Prime 25-story office property totaling ??548,938 SF and additional asphalt parking lot (not contiguous).Lender-owned, value-add opportunity with limitless potential.??21% leased, creating a — blank slate — opportunity to renovate, reposition, or convert to alternative uses.Low basis potential, enabling the building to be highly competitive.Flexible floor plates with varying bay depths ideal in accommodating both large and small tenants.Large tenants being priced out of adjacent submarkets are actively touring the subject submarket.Small tenants have been wildly active in the submarket leasing 605,000 SF within a one-mile radius in 184 lease transactions averaging 3,290 SF.Superstructure conducive to residential conversion.Substantial infrastructure including semi-truck accessible shipping/receiving level, dock-high loading, and separate substation power feeds.Situated within the prestigious 10.5-acre Phoenix Plaza mixed-used development containing class A office, retail, fitness and conference center amenities, an Embassy Suites, and an 11-story parking garage.Adjacent to Park Central Mall — a 46-acre, mixed-use redevelopment project that serves as the area — s primary amenity hub.True transit-oriented location within walking distance to the Metro light rail, three (3) different freeways within 1.5-miles, and a short commute to Sky Harbor Airport.In the heart of Phoenix — s thriving healthcare and bioscience hubs.

Market Context

This office in Phoenix, AZ is listed for sale across 548,938 SF. It has been on the market for 238 days. Compare it against other office listings for sale in Phoenix, AZ — view the full market.

As of Q1 2026, the Phoenix office market showed cap rates around 7.2%. Source: multiple brokerage reports, Q1 2026.

Office market FAQ

What is the typical cap rate for office in Phoenix?
About 7.2% as of Q1 2026, per multiple brokerage reports.

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