PROPERTY LOCATION ASU Research Park Office 8700 South Price Road Tempe, Arizona 85284 map it PROPERTY SUMMARY Type: Office Class: B Price: Contact Broker   Listed Measurement/Yardstick: 132,070 Sq Ft Number of Buildings: 1 Number of Floors: 2 Occupancy: 0% Year Built: 2000 Year Renovated: PROPERTY DESCRIPTION Leasehold interest in a 2-story132,070 sf office building in Tempe, AZ. Built in 2000 on 9.63 acres in the ASU Research Park. Facility is 100% vacant & was previously leased in its entirety to Avnet. Ground Lease: ASU formed the not-for-profit research park and municipal improvement bonds were issued by the City to construct the park's infrastructure. Repayment of bonds is through long-term GLs, including the one encumbering the subject. Due to the GL with ASU, there are no RE taxes assessed from the leasehold position. Current ground rent payment is $390K and resets to 10% of FMV of the land in 2029, 2059 & 2089 and expires in 2101. GL stated they don't want to own the improvements.

For more information contact   Eric Wichterman Cushman & Wakefield eric.wichterman@cushwake.com Tel: 602-339-3131 https://www.cushwake.com