2045 Innovation Cir Tempe, AZ 85284

Property Details for 2045 Innovation Cir

Year built

2015

Lot size

7.26 lot acres

Property size

97,504 SF

Property type

Office Properties & Spaces

Description

This exceptional investment opportunity presents a +/- 97,504 square foot, Class A office building situated in Tempe, Arizona. Currently serving as the global headquarters for Amkor Technology Inc., a Fortune 508 company with a strong credit rating (Moody's Ba3 and S&P Global BB), this two-story building boasts a 100% occupancy rate with a lease extending to May 31, 2034. The property features a favorable Net Lease (NNN) structure with minimal landlord responsibilities and built-in annual rent escalations of 2.75%. Constructed in 2015, the building incorporates LEED-inspired design elements, including recycled materials and reclaimed water for landscaping. Amkor's build-to-suit headquarters includes high-end finishes, executive offices, ample meeting rooms, abundant natural light, and covered parking. The open-office concept promotes collaboration, complemented by amenities such as a coffee shop-style break room and restaurant-quality dining areas. Located within the prestigious Arizona State University Research Park, this property offers a prime location in a thriving technology hub. The 7.26-acre lot is zoned AG. The ground lease extends to December 31, 2101. The asking price is $22,780,000, representing a 7.85% cap rate and a significant NOI of $1,788,233. This is a rare opportunity to acquire a high-quality, mission-critical asset with a long-term, credit-worthy tenant.

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Longitude

-111.899

Latitude

33.3354