|
|
6/03/26
|
Phoenix Education Partners Headquarters, a three-building, 599.7k sf Class A office campus in Phoenix, traded hands in a $103 mil transaction that works out to $172/sf. The campus sits on approximately 37 acres at 4025, 4035 and 4045 South Riverpoint Pkwy, just off I-10 at 32nd St. We’re told that the transaction marks the largest office sale, based on price, in Phoenix since 2022.
The property is 100% leased to the University of Phoenix, which occupies the entire campus under a long-term lease, providing stable, in-place cash flow. The buyer, an undisclosed national developer, was attracted to the rare combination of secure near-term income and the inherent flexibility afforded by a 37-acre infill site of this scale, offering a range of potential future use scenarios over time.
Developed in 2008 to serve as the global headquarters of Phoenix Education Partners Inc, parent company to The University of Phoenix, the campus comprises one 10-story and two six-story buildings. The project features a market-leading 7.7-per-1,000-square-foot parking ratio supported by two multi-level parking structures and extensive surface parking.
Strategically located adjacent to I-10, the property provides convenient access to Downtown Phoenix, Downtown Tempe and Phoenix Sky Harbor International Airport within a 10-minute drive. The campus is also located within a designated Opportunity Zone, further enhancing its long-term investment appeal.
Newmark Executive Managing Directors Barry Gabel, CJ Osbrink and Chris Marchildon, Managing Director Gary Cornish and Associate Nico Burgarello represented the seller in the transaction.
“This transaction highlights continued investor appetite for well-located institutional-quality assets that offer both dependable income and meaningful long-term optionality,” said Osbrink. “Opportunities to acquire a fully leased campus of this size and quality, particularly with significant underlying land value, in a core infill location are increasingly limited in Phoenix.”
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
