14805 N 73rd St

EXCEPTIONAL INVESTMENT OR OWNER/USER OFFICE BUILDING, ZONED LIGHT INDUSTRIAL, SCOTTSDALE AIRPARK

* 14805 N. 73rd Street is a highly functional single-tenant office building located directly next to Scottsdale Airpark, Scottsdale Quarter, and Kierland Mall.
* Currently, the building is occupied by AssuredPartners, a national insurance brokerage firm founded in 2011, which is one of the fastest-growing insurance brokerage firms in the U.S., exceeding more than $1 billion in revenue. AssuredPartners is currently the 11th largest broker of United States business as ranked by Business Insurance in the July 2023 edition, featuring the “100 Largest Brokers of the U.S. Business.”
* AssuredPartners is in the process of expanding its local operations here in Greater Phoenix, thus creating a potential opportunity for an owner/user business seeking an ideal headquarters or for an investor to seek higher market rents as the current rents are under market. Ownership for an owner/ user provides the opportunity to offset future rent increases and build equity.

THRIVING ECONOMIC HUB WITH EXCEPTIONALLY STRONG MARKET FUNDAMENTALS

* Smaller office buildings below 20,000 square feet continue to be in higher demand and lease faster than larger office buildings. Within the Scottsdale Airpark, there is a 5.2% vacancy rate for single-story office buildings between 5,000 SF and 20,000 SF (Costar), compared to the 16.80% Q1 vacancy rate for office buildings in the Airpark (CBRE Research).
* Scottsdale is home to more than 25,000 businesses with nearly 20 percent of Arizona corporate headquarters calling the city home. Furthermore, Scottsdale is visited by over 9 million people annually, adding over $3.7B of yearly economic impact to this booming economic hub.
* Due to its business-friendly environment and quality of life, Greater Phoenix was the fastest-growing big city in the United States between 2010 and 2020 according to the U.S. Census Bureau. In that time, the Metro grew 11.2%, the only one of the 10 largest U.S. cities to post double-digit population growth.

THRIVING AIRPORT-BASED BUSINESS PARK W/ ABUNDANT NEARBY AMENITIES

* Scottsdale Airpark has become a national model for airport-based business parks. It is home to more than 25 national/regional corporations, 2,900 businesses, more than 51,000 employees and has easy airport & freeway access providing unmatched accessibility.
* Abundant nearby amenities, headlined by Scottsdale Quarter and Kierland Commons, two premier open air, mixed-use developments in the heart of Scottsdale Airpark. The adjacent properties alone boast over 1.2 million square feet of retail and office space along with over 650 luxury apartment units.
* Exceptional demographic base supported by an educated (±70% of population has bachelor’s degree or higher) and affluent (average household income is ±$150K) workforce within 3-miles. Scottsdale Airport is nestled in between Paradise Valley and DC Ranch, where most of the wealthiest individuals in Metro Phoenix reside.