For Sale
$26,398,000

1528 Williams Field Rd Gilbert, AZ 85295

Class A Office Portfolio, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
137
Exceptional investment opportunity: The Forum at Gilbert Ranch, a stabilized Class A office and medical campus in Gilbert, Arizona, presents a compelling investment opportunity. This 92,041 square foot property comprises five, two-story steel-framed buildings on a 6.54-acre lot (APN 304-42-839). Built in 2009 and renovated in 2016, the campus boasts modern construction, exceptional glass lines, and a rare feature: subterranean and covered parking with a generous 4.4/1,000 SF parking ratio. Currently 96.4% occupied with a diverse tenant base and staggered lease rollovers, this property offers stable cash flow and significant upside potential. The average suite size of 4,500 square feet aligns well with the market demand, and in-place rents are approximately 8% below market, allowing for future rent increases. The property benefits from its prime location in Gilbert's thriving East Valley, a rapidly growing area with strong corporate and technology presence, including major companies like Liberty Mutual, Verizon, and PayPal. The area's population growth is significantly outpacing national averages, and Gilbert itself has experienced remarkable growth in recent decades. The campus enjoys excellent access to major transportation arteries, including Loop 202 and Phoenix-Mesa Gateway Airport, with proximity to Sky Harbor International Airport and downtown Phoenix. Furthermore, the strong medical demand in the area, anchored by a nearby medical center, and abundant surrounding retail options, including a large open-air mall, contribute to the property's overall attractiveness. The asking price is $26,398,000, representing a cap rate of 7.98% and a price per square foot of $286.81. This property offers a unique blend of strong fundamentals, prime location, and significant growth potential.

Highlights

  • Exceptional investment fundamentals.
  • Prime location in Southeast Phoenix's rapidly growing East Valley, home to major corporations like Liberty Mutual, Verizon, and PayPal. Population growth exceeding national averages.
  • High-growth Gilbert, AZ location; population doubled every five years (1980-2000) and boasts significant recent growth. Over 1 million people within a 20-minute drive.
  • Excellent business environment with strong local government support, convenient location, and access to a growing workforce. Val Vista Drive frontage, near Loop 202 and Phoenix-Mesa Gateway Airport, with easy access to downtown Phoenix and Sky Harbor. Abundant retail amenities including San Tan Village.

Property Details for 1528 Williams Field Rd

Property type
Office properties
Square Feet
92,041 SF
Class
A
Year Built/Renovated
2009/2016
Buildings
5
Stories
2
Lot Size (sq. ft)
284,882 SF

Location Insight

City
Gilbert
County
Maricopa
State
Arizona
Latitude
33.3077592
Longitude
-111.7572274

FAQs

What type of property is this?
Office property - Class A Office Portfolio, High Occupancy
Where is the office property located?
The property is located at 1528 Williams Field Rd Gilbert, AZ.
What is the asking price?
The asking price for this property is $26,398,000.
What are key features of this property?
This property features: Exceptional investment fundamentals.; Prime location in Southeast Phoenix's rapidly growing East Valley, home to major corporations like Liberty Mutual, Verizon, and PayPal. Population growth exceeding national averages.; High-growth Gilbert, AZ location; population doubled every five years (1980-2000) and boasts significant recent growth. Over 1 million people within a 20-minute drive.
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1528 Williams Field Rd
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