Two-Building Office Campus
For Sale
Contact for pricing
7720 & 7740 North 16th Street, Phoenix, AZ 85020
Fee simple sale of a two-building office campus with large floor plates, structured parking, and freeway interchange access.
Property Size290,904 SF
Lot Size14.80 Acres
Days on Market90
Property Features for 7720 & 7740 North 16th Street
General Information
Standard status
Active
Size
290,904 SF
Lot size
14.80 Acres
Property subtype
Office
Occupancy
31%
Additional Details
Highway Access
Yes
Listing Agency:
Newmark - Phoenix
(602) 952-3841
Listed By:
CJ Osbrink · License #SA633658000
Source:
Nmrk
Added: Jun 1
Changed: Aug 26
Last Checked: Aug 29 at 6:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark - Phoenix
Investment Insights
Based on property information with market context.
The Summit is a two-building office campus offered in fee simple, totaling 290,904 square feet on approximately 14.8 acres. The campus consists of 7720 N 16th Street (163,393 SF) and 7740 N 16th Street (127,511 SF). The property features institutional-quality construction and large, efficient floor plates, supported by two two-level parking structures.
The Summit is located along the Piestewa Peak Corridor in Phoenix, adjacent to the Camelback Corridor. The campus provides immediate access to a highly connected freeway corridor via a full diamond interchange at Northern Avenue and SR-51, located less than one mile to the north of the property.
Leasing-wise, The Summit is currently 31% leased with a 15.0-year weighted average lease term. The offering is described as a value-add opportunity supported by in-place rents that are 14% below market. In addition, the property’s nearly 14.8-acre infill land position includes a parcel split that has been submitted to the City of Phoenix to create two independently titled parcels, which the remarks indicate is anticipated to reduce property taxes. The configuration is positioned to support multiple operating strategies, including office lease-up, partial campus monetization, or a future redevelopment approach within the submarket context described in the remarks.
The Summit is located along the Piestewa Peak Corridor in Phoenix, adjacent to the Camelback Corridor. The campus provides immediate access to a highly connected freeway corridor via a full diamond interchange at Northern Avenue and SR-51, located less than one mile to the north of the property.
Leasing-wise, The Summit is currently 31% leased with a 15.0-year weighted average lease term. The offering is described as a value-add opportunity supported by in-place rents that are 14% below market. In addition, the property’s nearly 14.8-acre infill land position includes a parcel split that has been submitted to the City of Phoenix to create two independently titled parcels, which the remarks indicate is anticipated to reduce property taxes. The configuration is positioned to support multiple operating strategies, including office lease-up, partial campus monetization, or a future redevelopment approach within the submarket context described in the remarks.
Key Highlights
- Two‑building office campus totaling 290,904 SF on approximately 14.8 acres, built in 1999.
- Buildings: 7720 N 16th St (163,393 SF) and 7740 N 16th St (127,511 SF).
- Large, efficient office floor plates plus two, two‑level parking structures.
Property Analytics
Property Profile
Current Use
Lease Details
31%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,590
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office building - Fee simple sale of a two-building office campus with large floor plates, structured parking, and freeway interchange access.
Where is this office building located?
The property is located at 7720 & 7740 North 16th Street Phoenix, AZ.
What are key features of this property?
This property features: Two‑building office campus totaling 290,904 SF on approximately 14.8 acres, built in 1999.; Buildings: 7720 N 16th St (163,393 SF) and 7740 N 16th St (127,511 SF).; Large, efficient office floor plates plus two, two‑level parking structures.
