Highly Desirable Downtown Tempe Location Available

405 W University Dr Tempe, AZ 85281

405 W University Dr, Tempe, AZ, 85281
405 W University Dr, Tempe, AZ, 85281
FOR LEASE
Property Type:
Strip Center
Last Verified:
Apr 10, 2020

Highlights

  • Located in the heart of Downtown Tempe, directly adjacent to Arizona State University
  • Arizona State University caters to 71,946 students across its Metro-Phoenix campuses
  • Whole Foods recent completion as part of the local development continues the path of development west
  • Signage on University Drive provides excellent visibility
  • Multiple hotel developments in the immediate trade area
  • Open floor plan allows for unlimited interior redesign options

Description

This property is located in the heart of Downtown Tempe, 405 W University Drive offers new tenant exposure to 32,345 VPD along one of the main east-west thoroughfares of the City of Tempe (University Dr). This space is just a short walk from Mill Avenue and Arizona State University. This site offers almost unlimited opportunities for the university students, the business population and the rest of the growing community of Tempe. Don't miss your chance at this extremely rare opportunity!

Prime Tempe Location Walking Distance from ASU and Mill Ave.


Year Built: 1995
Building Size: 4791.0sq ft
Building Class: B
Lot Size: 0.49 acres

Units for Lease

105
Space Available: 3763 SF
Lease Type: NNN

Price Per Sqft/Year: $32.0

Map of 405 W University Dr, Tempe, AZ, 85281

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.