East Gateway — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Phoenix, AZ 85008
  • Size: 230,864 SF

Description

Two (2), four-story institutional-quality office buildings totaling ??230,864 square feet (SF) and an adjacent two-story parking garage.??73% leased to a diverse mix of high-quality tenants, including several publicly traded companies.Upcoming vacate of Mobile Mini | Will Scot in October 2025 perfectly positions an investor with a reduced basis to capitalize on the submarket — s blossoming small tenant activity and accelerating large tenant demand.$4.7 million invested in renovations, building systems upgrades and tenant improvements from 2019 to present.Flexible floor plates averaging ??28,800 SF provide ideal bay depths and three (3) exit stairwells, collectively enable the floor to efficiently accommodate small-, medium-, and large sized tenants without extensive corridor re-tenanting costs.Small tenants have been highly active in the market, leasing an impressive 6.45 million SF in overall Metro Phoenix from 2023 to Year-To-Date (YTD) in 2,219 lease transactions.Large tenant (20,000+ SF) demand returning to the metro Phoenix market, with a ??20% Year-Over-Year increase in transaction activity thus far in 2024.Freeway visibility from SR-143 freeway providing prominent tenant signage opportunities.The 44th Street Corridor holds a direct vacancy of ??14.8% with sublease vacancy totaling just 0.5%.True transit-oriented location within walking distance of the Metro Light Rail, four (4) different freeways within five (5) miles of the property, and near-immediate vehicular and rail access to the Sky Harbor International Airport.Strategically located at the northwest border of Downtown Tempe, benefiting from access to Tempe — s Mill Avenue Entertainment District, a 24/7 live-work-play urban hotspot, and its other amenities.Parking ratio of 4.47/1,000 SF is provided by a two-story, 561-space parking garage, 397 surface spaces, 75 covered spaces, and 23 ADA spaces.

Market Context

This office in Phoenix, AZ is listed for sale across 230,864 SF. It has been on the market for 240 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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