For Sale
$26,398,000

1528 Williams Field RdGilbert, AZ 85295

Class A Office Portfolio, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
117
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
1528 Williams Field Rd, Gilbert, Arizona

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1528 Williams Field Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message