Description

2600 Tower, located at 2600 N Central Ave in Phoenix, AZ, offers a prime opportunity for both investors and occupiers within the thriving Midtown submarket. This Class A, 20-story office building spans 317,687 square feet, with 117,461 square feet available for lease. Built in 1982 and fully renovated in 2022, the property features efficient 16,000-square-foot floor plates, a competitive parking ratio of 2.6 spaces per 1,000 square feet, and 832 parking spaces.

With in-place rents of $25 per square foot and market rents of $26 per square foot, leasing opportunities provide an attractive option for tenants seeking modern, high-quality office space in a central location. Occupiers benefit from flexible configurations and a well-maintained professional environment. For investors, 2600 Tower represents a compelling asset with a stabilized net operating income (NOI) of $3,881,449 and in-place NOI of $2,325,635. The property operates at 63% occupancy, presenting an opportunity to increase revenue by leasing the available space.

With rents currently below market by 3%, there is additional upside potential for value creation. Positioned on a 2.72-acre site in a highly accessible location, this property delivers strong fundamentals and stable returns, making it an excellent long-term investment in the Phoenix office market.