Development Site in Downtown Phoenix

FOR SALE

DEVELOPMENT SITE IN DOWNTOWN PHOENIX

125 E. MCDOWELL RD. PHOENIX, AZ 85004 Executive Summary

SVN Desert Commercial Advisors, as the sole representative of the Owner, is pleased to present for purchase 125 E. McDowell Rd. a development site on the SWC of 2nd St. and McDowell Rd. in downtown Phoenix. Totaling ±0.35 AC (±15,033 SF), the site is zoned within the flexible DTC-TWNPK allowing for a wide range of developments and a maximum height upwards of 90' and a density of 125 dwelling units per acre. Since the subject property is located on a hard corner, development standards allow for the parcel to be grossed up. This standard brings the total size of the parcel to ±26,264 SF, creating opportunity for a developer to maximize density on the site. Additionally the site is within walking distance to the Metro Light Rail, Hance Park, and Roosevelt Row. Also in close proximity is the I-10 and 51 freeways. The immediate area is experiencing major redevelopment bringing countless numbers of retail amenities and urban multi-family residential complexes converting a once struggling area into a vibrant urban core.

Initial Offer Price $ $850,000 | $57 Per land SF

Lot Size ±0.35 AC | ±15,033 SF

Zoning DTC-TWNPK

Height & Density Allowance 90’ Max Height | 125 Units Per Acre

Offer Criteria Please See Page 12 2 The Offering PROPERTY INFORMATION

125 E. McDowell Rd. Phoenix, AZ 85004

Lot Size: ±0.35 AC | ±15,033 SF

APN: 111-35-093

Zoning: DTC-TWNPK

2019 Taxes: $7,444.56

Property Information 3 4 Zoning Summary Zoning: DTC-TWNPK

Zoning Overview: The Downtown Code allows such uses as hotels, office, retail sales, restaurants, and residential development subject to the requirements of the Phoenix Zoning Ordinance. The Arts, Culture, and Small Business overlay is intended to allow for greater flexibility in land uses and standards that will contribute to the vitality of the downtown area.

The Intent of the Townsend Park Character Area is to transition between the mixed-use neighborhoods to the east, the McDowell Corridor to the north and the Downtown gateway to the west. The area S special potential to connect these diverse adjacent areas can be realized through incorporating mixed- sue/mid-rise developments that focus on office and cultural facilities.

Height: 90’ Maximum

Density: 125 Dwelling units per acre.

Lot Coverage: Minimum setbacks with capability from 50% to 100%

Zoning Summary 5 N. Central Ave. N. Alvarado Rd.

E. McDowell Rd.

St. nd N N. 2

6 Local Aerial Accessibility 7 8 Retailer Map “Downtown Phoenix’s DEVELOPMENT BOOM is a sign of the Valley’s maturation, the area’s redevelopment is critical to our economy”

Mark Stapp, Director of the Masters in Real Estate Program @ ASU

Downtown Phoenix University Student Enrollment

ARIZONA STATE UNIVERSITY 13,000

UNIVERSITY OF ARIZONA 618

THUNDERBIRD SCHOOL 400

NORTHERN ARIZONA UNIVERSITY 364

Universities 9 Phoenix Overview: In recent years, Downtown Phoenix has undergone a wave of new development and public investment to the tune of over $5 billion since 2004. Arizona State #1 University continues to grow its footprints bringing an influx of upwards of 13,000 students, a student Population Growth body, that according to ASU President Michael Crow, has the potential of doubling. Likewise for the ASU University of Arizona College of Medicine. The azcentral Thunderbird School of Global Management has also relocated its campus to downtown and Northern Arizona University also teaches classes downtown as #1 part of the Biomedical Campus along 7th St. As has been well publicized, Block 23, a highly anticipated Innovation mixed-use project has opened its doors and is home US News to a Fry’s Food Store, the first full sized grocery store in the area. The Arizona Center is undergoing a $25 million renovation slated to include a 15-story Marriott hotel and first class amenities. The Phoenix Convention Center roughly tripled in size marking it #2 one of the largest convention centers in the U.S. On top of all of that, countless bars, restaurants, and Multi Family Rent other retailers continue to enter the market. Growth Downtown Phoenix alone drives over $9.7 billion in economic activity. All of this Positive growth makes USA Today #2 Downtown Phoenix a highly desirable location, especially for millennials seeking a live work High Tech Job environment in Phoenix’s urban core. Demand

U.S. Bureau of #2 The Tech Movement: Labor Stats Phoenix is home to over 400 technology based Metro Area Job businesses and is ranked as the #2 metro area for job Growth growth, marking Phoenix a serious contender for attracting young professional entering the

Phoenix Business workforce. Tech companies such as Uber Inc. and Best Journal Upgrade Inc. have recently established roots in the submarket. Additionally, Rocket Mortgage inked a Airport lease for 150,000 SF in Downtown Phoenix relocating about 1,100 employees to the area. While apartment rents continue to reach historical highs, USA Today Phoenix continues to maintain low Barries to entry and relatively low costs of living making it a very compelling option for out of state companies considering expansion and relocation.

10 Market Overview Downtown Stats 11 OFFER Please provide a formal offer detailing Purchase Price, deposit structure, closing date, and any other pertinent terms.

PROOF OF FUNDS Buyer shall display its ability to financially acquire the site via cash or loan structure

PROPOSED USE OF SITE Please include a design concept overview with any preliminary architectural plans for the intended development

DEVELOPMENT RESUME Buyer shall have development experience in line with the scope of work proposed for the site.

Offer Criteria 12 5343 N. 16th Street, Suite 100 Phoenix, AZ 85016 480.425.5518 www.SVNDesertCommercial.com