7720 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.
- Added:
- May 28, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 6 at 2:47 am
Property Features for 7720 North 16th Street
General Information
- Standard status
- Active
- Size
- 290,904 SF
- Lot size
- 14.80 Acres
- Property subtype
- Office, Mixed Use, Land
Building Details
- Year Built
- 1999
Listing agent Chris Marchildon License #AZ SA633658000
Listing office Newmark - Phoenix
Listing date May 28, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Newmark - Phoenix
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.
- Immediate access to SR‑51 and Northern Ave via full diamond interchange at Northern Ave & SR‑51, less than 1 mile north.
- Currently 31% leased with 5.0 years weighted average lease term.
- Parcel split submitted to the City of Phoenix to create two independently titled parcels; anticipated to reduce property taxes.
Overview
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.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.048089
- Latitude
- 33.549626
