Listing banner image
  • Property Type
    OfficeProperty Type
  • Square Feet
    74,520 SFSquare Feet
  • Tenancy
    MultiTenancy
  • Occupancy
    100%Occupancy
  • Building Class
    ABuilding Class
  • Asking Price
    $17,100,000Asking Price

Description

Whispering Wind Corporate Center is a 74,520-square-foot Class A office property located at 2205 & 2225 W Whispering Wind Drive in Phoenix, Arizona. Built in 2007 and situated on 4.73 acres, the two-story asset features efficient 38,308-square-foot floor plates, a 4.5 per 1,000 parking ratio with 340 spaces, and modern construction standards.

The property is fully leased, providing investors with stable cash flow, and benefits from in-place rents of $24 per square foot, approximately 5.6% below the market average of $26 per square foot, presenting potential upside through lease renewals or re-tenanting. Offered at $17,100,000 ($229 per square foot), the property generates an in-place NOI of $1,155,877, resulting in a 6.76% cap rate. Stabilized metrics reflect a cap rate of 7.47% and NOI of $1,277,428.

Located in Phoenix’s thriving North Gateway submarket, the Corporate Center benefits from proximity to major transportation routes, a growing workforce, and robust demand for quality office space. This asset provides institutional investors an opportunity to secure a well-positioned, stabilized property with potential for rent growth in one of the nation’s most dynamic office markets.

Documents

Offering Summary

  • Asking Price
    $17,100,000
  • Price PSF
    $229
  • Price/Acre
    $3,616,719
  • Property Type
    Office
  • Size
    74,520 SF
  • Occupancy
    100%
  • Built
    2007
  • Parking
    340
  • Total Acres
    ~4.73 ac

Sale Details

  • Walt
    5.40 Years
  • Cap Rate
    6.76%
  • NOI
    $1,155,877
  • Stabilized Cap Rate
    7.47%
  • Stabilized NOI
    $1,277,428
  • In-Place Cap Rate
    6.76%
  • In-Place NOI
    $1,155,877
  • In-Place Rents
    24
  • Market Rents
    26
  • Rents Below Market
    5.60%

Documents

Property Address

2205 & 2225 W Whispering Wind Drive
Phoenix, AZ 85085

Property Details

  • Property Type
    Office
  • Square Feet
    74,520 SF
  • Occupancy
    100%
  • Building Class
    A
  • Year Built
    2007
  • Stories
    2
  • Floor Plates (SF)
    38,308 SF
  • Parking Ratio
    4.5 per 1,000
  • Total Parking
    340
  • Tenancy
    Multi
  • Operating Expenses ($/SF/yr)
    10.30 $/SF/yr
  • Lease Type
    Full-Service Gross
  • Zoning
    A-1 (Light Industrial – City of Phoenix)
  • APN
    210-05-048
  • Ownership Interest
    Fee Simple
  • Acres
    4.73

Property Details

Deal Team

Mindy Korth profile image

Mindy Korth

Executive Vice President Executive Vice President
Colliers
AZ RE Lic. BR004901000
Jenny Bassett profile image

Jenny Bassett

Real Estate Analyst Real Estate Analyst
Colliers

Description

Whispering Wind Corporate Center is a 74,520-square-foot Class A office property located at 2205 & 2225 W Whispering Wind Drive in Phoenix, Arizona. Built in 2007 and situated on 4.73 acres, the two-story asset features efficient 38,308-square-foot floor plates, a 4.5 per 1,000 parking ratio with 340 spaces, and modern construction standards.

The property is fully leased, providing investors with stable cash flow, and benefits from in-place rents of $24 per square foot, approximately 5.6% below the market average of $26 per square foot, presenting potential upside through lease renewals or re-tenanting. Offered at $17,100,000 ($229 per square foot), the property generates an in-place NOI of $1,155,877, resulting in a 6.76% cap rate. Stabilized metrics reflect a cap rate of 7.47% and NOI of $1,277,428.

Located in Phoenix’s thriving North Gateway submarket, the Corporate Center benefits from proximity to major transportation routes, a growing workforce, and robust demand for quality office space. This asset provides institutional investors an opportunity to secure a well-positioned, stabilized property with potential for rent growth in one of the nation’s most dynamic office markets.

Documents

Offering Summary

  • Asking Price
    $17,100,000
  • Price PSF
    $229
  • Price/Acre
    $3,616,719
  • Property Type
    Office
  • Size
    74,520 SF
  • Occupancy
    100%
  • Built
    2007
  • Parking
    340
  • Total Acres
    ~4.73 ac

Sale Details

  • Walt
    5.40 Years
  • Cap Rate
    6.76%
  • NOI
    $1,155,877
  • Stabilized Cap Rate
    7.47%
  • Stabilized NOI
    $1,277,428
  • In-Place Cap Rate
    6.76%
  • In-Place NOI
    $1,155,877
  • In-Place Rents
    24
  • Market Rents
    26
  • Rents Below Market
    5.60%

Documents

Property Address

2205 & 2225 W Whispering Wind Drive
Phoenix, AZ 85085

Property Details

  • Property Type
    Office
  • Square Feet
    74,520 SF
  • Occupancy
    100%
  • Building Class
    A
  • Year Built
    2007
  • Stories
    2
  • Floor Plates (SF)
    38,308 SF
  • Parking Ratio
    4.5 per 1,000
  • Total Parking
    340
  • Tenancy
    Multi
  • Operating Expenses ($/SF/yr)
    10.30 $/SF/yr
  • Lease Type
    Full-Service Gross
  • Zoning
    A-1 (Light Industrial – City of Phoenix)
  • APN
    210-05-048
  • Ownership Interest
    Fee Simple
  • Acres
    4.73

Property Details

Deal Team

Mindy Korth profile image

Mindy Korth

Executive Vice President Executive Vice President
Colliers
AZ RE Lic. BR004901000
Jenny Bassett profile image

Jenny Bassett

Real Estate Analyst Real Estate Analyst
Colliers
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