A 300,000 square foot, two-building Class A office portfolio comprised of two 6-story buildings located in the Phoenix, Arizona submarket of Tempe.
Investment Rationale
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Arizona’s economy ranks 2nd in the nation for job growth, 3rd in the nation in GDP growth, and 4th in fastest growing states in the US.
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Tempe is Phoenix’s top performing office submarket posting vacancy rates in the single digits over the past 8 years and hitting an all-time low of 3.3% in 2019.
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The property is located within a master-planned environment that contains Class A office space, multifamily communities, retail and hotels, and is leased to a diversified mix of investment-grade tenants
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Acquired at a significant discount to new construction costs in the Phoenix market following recent major capital refurbishments that included renovations of lobbies, common areas, elevators and roof replacements.
Property Gallery
Location
![Fountainhead Corporate Park Map](https://jllipt.imgix.net/uploads/properties/Fountainhead-Corporate-Park/Map/Fountainhead-Corporate-Park-Map.jpg?auto=format%2C%20compress&ch=DPR&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&ixlib=php-3.3.1&w=400&s=245287c8bcdce8bb4a54c4a1e8eef1b1)