Two-Building Office Campus
7720 North 16th Street Phoenix, AZ 85020
For Sale
Contact for pricing
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 Market57
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 Agency:
Newmark - Phoenix
Listed By:
Chris Marchildon · License #AZ SA633658000
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Jul 23 at 11:28AM
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
Location Intelligence
Current Use by Public Records
Lobel Financial
Financial Advisor
Veranda Bistro
Cafe & Coffee Shop
AECOM
Business Management Consultant
Tiffany & Bosco
Law Firm
Michael Mcqueen
Pediatrician
FAQs
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 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.
