5324-5330 E Washington St Phoenix, AZ 85034
Four-building flex space near Sky Harbor International Airport.
Property size:
138,781 SFLot size:
11.02 AcresProperty Features for 5324-5330 E Washington St
General Information
- Size
- 138,781 SF
- Lot size
- 11.02 Acres
Source:
Moodyscre
Listing Agent: Greer Oliver
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Phoenix Airport Area Flex Space
Washington Business Park presents an opportunity to acquire a fee-simple interest in 138,781 square feet across four buildings on nine acres. Located at 5324, 5326, 5328, and 5330 E. Washington Street in Phoenix, Arizona, the property is situated in the airport submarket, approximately 1.5 miles northeast of Sky Harbor International Airport and adjacent to the Loop 202 freeway. The property is currently 40% leased to AZ Department of Economic Security, HOM, Inc., and Walgreens, with a 2.5-year weighted average remaining lease term. The location offers access to local and regional markets due to its proximity to Sky Harbor Airport and the Phoenix freeway system, including Loop 101, Loop 202, SR 51, SR 143, I-10, I-17, and US 60. This infill location offers potential investors a hedge against supply concerns, with the airport submarket vacancy rate at 4.1%, lower than the broader Phoenix Metro area's 12.5%. This value-add offering allows investors to enhance returns through an aggressive lease-up strategy, taking advantage of the submarket's vacancy rate and the absence of current industrial projects under construction. The existing tenancy provides stable cash flow while a business plan is formulated.
Location Intelligence
Current Use by Public Records
Flex space
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.9665781
- Latitude
- 33.4474488
Nearby Similar for Sale
FAQs
What type of property is this?
Industrial property - Four-building flex space near Sky Harbor International Airport.
Where is this industrial property located?
The property is located at 5324-5330 E Washington St Phoenix, AZ.
What are key features of this property?
This property features: - Value-add opportunity to increase returns through lease-up strategy in a submarket with low vacancy (4.1%).; - Prime infill location in the airport submarket, just 1.5 miles from Sky Harbor International Airport.; - Excellent access to local and regional markets via proximity to major freeways.