1528 Williams Field RdGilbert, AZ 85295

Property Details for 1528 Williams Field Rd

Year built

2009

Lot size

6.54 AC

Property size (Sq ft)

92,041 SF

Property type

Office properties

Property subtype

Other office properties

Description

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.

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Latitude

33.3078

Longitude

-111.757

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