- For Sale Contact for pricing
- Property Type Office - Medical Office
- Property Size 35,087 SF
- Lot Size 35,087 Acre
- Parking Spaces Avail. 132
- Parking Ratio 3.76 / 1,000 SF
- Year Built 2005
- Date Updated Nov 11, 2026
Description
EXECUTIVE SUMMARY, CONT.
SIGNIFICANT VALUE-ADD UPSIDE
The Property is currently 35% occupied by Reproductive Medical Institute,
LLC (dba Fertility Treatment Center), which occupies 12,218 square feet
in Suite 115 under a lease running through June 30, 2029 (not including
renewal options). The remaining seven suites, totaling 22,869 square feet,
are available for lease-up — including a 6,451-square-foot surgery center.
IDEAL OWNER-USER OPPORTUNITY
Tempe Medical at ASU Research Park presents a rare opportunity for a
medical owner-user to acquire an income-producing building in one of the
Southeast Valley's premier business parks. With 22,869 square feet available
across seven suites — including a 6,451-square-foot surgery center — an
owner-user can control future expansion needs while leasing the balance
to complementary medical tenants to offset occupancy costs. Owning
rather than leasing offers long-term occupancy cost control, the ability to
build equity, and a prestigious campus address that enhances patient and
recruiting appeal. Moreover, an owner-user benefits from more advantageous
accelerated depreciation given the ground lease (non-depreciable land).
IDEALLY LOCATED
ASU Research Park is among the most highly improved office parks in
metropolitan Phoenix, featuring mature landscaping, three lakes across 18
acres and more than six miles of jogging trails. The Park offers a campusquality setting for medical, research and corporate users in the heart of the
Southeast Valley. The Property is just 0.8 miles from full-diamond Loop 101
interchanges, 2 miles from Chandler Fashion Center, and within 5 miles of
two major hospitals — Banner Desert Medical Center (4.5 miles) and Dignity
Health Chandler Regional Medical Center (5 miles). The surrounding trade
area is affluent, with a median household income of $115,540 within one mile
compared to $92,045 for the Phoenix MSA, and medical office fundamentals
remain healthy with a five-mile radius vacancy rate of 12% compared to 16%
for the metro area.
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