For Sale
$17,500,000

8320 Hardy DrTempe, AZ 85284

High-income, Class A flex space in Tempe, AZ.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A flex property, located at 8320 S Hardy Dr in Tempe, Arizona, presents a unique owner-user opportunity. The 104,836 square foot, two-story building sits on a 7.93-acre lot and boasts contemporary architecture with floor-to-ceiling windows, creating high curb appeal. Currently 100% occupied by a credit tenant (TSYS) under a lease expiring May 31, 2027, with an option to terminate on May 31, 2025, allowing for owner-user occupancy by June 2025 or earlier if the lease is terminated. The asking price is $17,500,000, translating to $166.93 per square foot. The property features a strong NOI of $1,455,787. Significant capital improvements totaling $1.8 million have been completed since 2017, encompassing HVAC, power, and generator upgrades. Ample parking is provided with a 6.09 spaces per 1,000 square feet ratio, including 40% covered parking. The property is zoned GID and benefits from its prime location within the Warner Crossing business park, directly across from a 60-acre city park, and surrounded by major retailers like IKEA, Costco, Home Depot, and Walmart. Its convenient location offers full-diamond access to Interstate 10 within two minutes. This investment presents a compelling blend of immediate income and long-term owner-user potential in a highly desirable Tempe location.

Highlights

  • Price Reduced to $17,500,000
  • 104,836 SF single-tenant flex office building.
  • Available for owner-user by June 2025 (or sooner).
  • 100% leased to credit tenant TSYS, providing strong short-term income.
  • $1.8M in capital improvements since 2017 (HVAC, power, generator).
  • Excellent parking: 6.1 spaces per 1,000 SF, 40% covered.

Property Details for 8320 Hardy Dr

Property type
Industrial properties, Flex space
Square Feet
104,836 SF
Class
A
Year Built
1997
Buildings
1
Stories
2
Lot Size (sq. ft)
345,431 SF

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.3387338
Longitude
-111.9550876
8320 Hardy Dr, Tempe, Arizona

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8320 Hardy Dr
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