Office

Talavi Spectrum

5701 W Talavi Blvd, Glendale, AZ 85306

Listing Price: $13,500,000

Cap Rate
7.41%
Gross SF
75,636
Rentable SF
75,636
Price/Gross SF
$178.49
Lot Size
5.70 acres
Year Built
2002

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Talavi Spectrum, a two-story Class A office asset within a favorable office corridor in Glendale, Arizona. Built in 2002 and professionally maintained since development, the asset spans 75,636 square feet on a 5.7-acre lot. The building has timeless design and functionality, including an open, central staircase with limited touchpoints. The complex has a great mix of back office and medical tenants with limited surrounding competition and high barriers to entry. The investment has an occupancy of 88% effective Jan 1, 2021, with two long-term tenants accounting for 61% of its occupancy. Additional value can be created by leasing up the three vacant spaces which are all functional and in great condition. The asset is located in an office corridor with many retail amenities in close proximity. This corridor is home to employers AAA, Alaska Federal Credit Union, Delta Dental AZ HQ, Progressive Leasing, Arizona Department of Transportation and Honeywell. The asset’s surrounding area has continued to grow with significant investments in education and healthcare, diversifying the area’s industries.

Investment Highlights

  • Suburban, Class A Office Asset, Located In Desirable Phoenix MSA Submarket
  • Two Tenants With Long-Term Tenancy Accounting For 61% Occupancy
  • Surrounded By Rich Retail Options, Highway Access And Large Corporate Employers
  • Growing Population With Strategic Access To Highly Skilled Employment Base
  • Strong Office Submarket With Limited Development Potential
  • Value-Add Opportunity With Lease Up

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

Listing Price: $13,500,000

Cap Rate
7.41%
Gross SF
75,636
Rentable SF
75,636
Price/Gross SF
$178.49
Lot Size
5.70 acres
Year Built
2002

Investment Highlights

  • Suburban, Class A Office Asset, Located In Desirable Phoenix MSA Submarket
  • Two Tenants With Long-Term Tenancy Accounting For 61% Occupancy
  • Surrounded By Rich Retail Options, Highway Access And Large Corporate Employers
  • Growing Population With Strategic Access To Highly Skilled Employment Base
  • Strong Office Submarket With Limited Development Potential
  • Value-Add Opportunity With Lease Up

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Talavi Spectrum, a two-story Class A office asset within a favorable office corridor in Glendale, Arizona. Built in 2002 and professionally maintained since development, the asset spans 75,636 square feet on a 5.7-acre lot. The building has timeless design and functionality, including an open, central staircase with limited touchpoints. The complex has a great mix of back office and medical tenants with limited surrounding competition and high barriers to entry. The investment has an occupancy of 88% effective Jan 1, 2021, with two long-term tenants accounting for 61% of its occupancy. Additional value can be created by leasing up the three vacant spaces which are all functional and in great condition. The asset is located in an office corridor with many retail amenities in close proximity. This corridor is home to employers AAA, Alaska Federal Credit Union, Delta Dental AZ HQ, Progressive Leasing, Arizona Department of Transportation and Honeywell. The asset’s surrounding area has continued to grow with significant investments in education and healthcare, diversifying the area’s industries.

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

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