The Monroe 111 W Monroe St

256,682 SF 63% Leased 4-Star Office Building Phoenix, AZ 85003 For Sale

Investment Highlights

  • Highly amenitized, transit-oriented location
  • Ideal smaller sized rectangular floor plates
  • Attractive basis below replacement cost and below peak pricing
  • Seller financing available
  • Recently completed extensive capital improvement program
  • Potential for Federal and State historic building tax incentives

Executive Summary

19-Story Fully Renovated Office Tower in the Heart of Downtown Phoenix
Originally constructed in 1964 and substantially renovated in 2018/2019, the Property is a well-located 256,682 SF, 24% occupied institutional-quality office tower with a subterranean parking garage in the heart of downtown Phoenix. This opportunity presents new ownership with a few different strategies to add tremendous value with an asset in an irreplaceable location. The opportunity exists to curate a diverse and complementary office tenant mix by leasing up the vacant suites in an already highly amenitized and renovated office tower. Another opportunity is to take advantage of the ideal size and shape of the floorplates, ±14,719 RSF, and the current building vacancy to convert the existing office, hotel, or mixed-use project. New ownership can capitalize on the demand for residential in the downtown area or the lack of nicer hotel options and may be able to recognize Federal and local tax credits to help offset repositioning costs.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
256,682 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1964/2018
Percent Leased
63%
Tenancy
Multiple
Building Height
19 Stories
Typical Floor Size
14,719 SF
Slab To Slab
13’
Building FAR
7.96
Lot Size
0.74 AC
Opportunity Zone
Yes
Zoning
C-DT - Downtown Core can accommodate office, residential and mixed-use

Amenities

  • Banking
  • Controlled Access
  • Conferencing Facility
  • Fitness Center
  • Property Manager on Site
  • Restaurant
  • Security System
  • Bicycle Storage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 4th Fl-Ste 400
  • 1,885 SF
  • Office
  • -
  • Now
  • 4th Fl-Ste 410
  • 1,466 SF
  • Office
  • Partial Build-Out
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 4th Fl-Ste 425
  • 1,597 SF
  • Office
  • -
  • Now
  • 6th Fl-Ste 603
  • 2,192 SF
  • Office
  • -
  • Now
  • 6th Fl-Ste 604
  • 2,407 SF
  • Office
  • -
  • Now

Spec Suite

  • 7th Fl-Ste 700
  • 2,114 SF
  • Office
  • -
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 7th Fl-Ste 702
  • 1,271 SF
  • Office
  • -
  • Now
  • 7th Fl-Ste 704
  • 2,059 SF
  • Office
  • -
  • Now
  • 7th Fl-Ste 706
  • 2,200 SF
  • Office
  • Spec Suite
  • Now

Spec Suite

  • 7th Fl-Ste 716
  • 1,279 SF
  • Office
  • -
  • Now
  • 7th Fl-Ste 720
  • 1,636 SF
  • Office
  • Full Build-Out
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 9th Fl-Ste 920
  • 7,501 SF
  • Office
  • Shell Space
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 10th Fl-Ste 1000
  • 14,895 SF
  • Office
  • -
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 11th Fl-Ste 1101
  • 1,261 SF
  • Office
  • Partial Build-Out
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 11th Fl-Ste 1105
  • 1,857 SF
  • Office
  • -
  • Now
  • 11th Fl-Ste 1122
  • 1,669 SF
  • Office
  • Partial Build-Out
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 12th Fl-Ste 1218
  • 2,048 SF
  • Office
  • -
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 12th Fl-Ste 1220
  • 1,517 SF
  • Office
  • -
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

  • 14th Fl-Ste 1400
  • 14,719 SF
  • Office
  • -
  • Now
  • 15th Fl-Ste 1500
  • 14,719 SF
  • Office
  • -
  • Now
  • 16th Fl-Ste 1600
  • 14,719 SF
  • Office
  • Partial Build-Out
  • Now

- On-site property management - On-site 24 hour security 7 days a week - Newly remodeled conference facility available - On-site café - Parking structure under the building

Space Size Space Use Condition Available
4th Fl-Ste 400 1,885 SF Office - Now
4th Fl-Ste 410 1,466 SF Office Partial Build-Out Now
4th Fl-Ste 425 1,597 SF Office - Now
6th Fl-Ste 603 2,192 SF Office - Now
6th Fl-Ste 604 2,407 SF Office - Now
7th Fl-Ste 700 2,114 SF Office - Now
7th Fl-Ste 702 1,271 SF Office - Now
7th Fl-Ste 704 2,059 SF Office - Now
7th Fl-Ste 706 2,200 SF Office Spec Suite Now
7th Fl-Ste 716 1,279 SF Office - Now
7th Fl-Ste 720 1,636 SF Office Full Build-Out Now
9th Fl-Ste 920 7,501 SF Office Shell Space Now
10th Fl-Ste 1000 14,895 SF Office - Now
11th Fl-Ste 1101 1,261 SF Office Partial Build-Out Now
11th Fl-Ste 1105 1,857 SF Office - Now
11th Fl-Ste 1122 1,669 SF Office Partial Build-Out Now
12th Fl-Ste 1218 2,048 SF Office - Now
12th Fl-Ste 1220 1,517 SF Office - Now
14th Fl-Ste 1400 14,719 SF Office - Now
15th Fl-Ste 1500 14,719 SF Office - Now
16th Fl-Ste 1600 14,719 SF Office Partial Build-Out Now

4th Fl-Ste 400

Size
1,885 SF
Space Use
Office
Condition
-
Available
Now

4th Fl-Ste 410

Size
1,466 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

4th Fl-Ste 425

Size
1,597 SF
Space Use
Office
Condition
-
Available
Now

6th Fl-Ste 603

Size
2,192 SF
Space Use
Office
Condition
-
Available
Now

6th Fl-Ste 604

Size
2,407 SF
Space Use
Office
Condition
-
Available
Now

7th Fl-Ste 700

Size
2,114 SF
Space Use
Office
Condition
-
Available
Now

7th Fl-Ste 702

Size
1,271 SF
Space Use
Office
Condition
-
Available
Now

7th Fl-Ste 704

Size
2,059 SF
Space Use
Office
Condition
-
Available
Now

7th Fl-Ste 706

Size
2,200 SF
Space Use
Office
Condition
Spec Suite
Available
Now

7th Fl-Ste 716

Size
1,279 SF
Space Use
Office
Condition
-
Available
Now

7th Fl-Ste 720

Size
1,636 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

9th Fl-Ste 920

Size
7,501 SF
Space Use
Office
Condition
Shell Space
Available
Now

10th Fl-Ste 1000

Size
14,895 SF
Space Use
Office
Condition
-
Available
Now

11th Fl-Ste 1101

Size
1,261 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

11th Fl-Ste 1105

Size
1,857 SF
Space Use
Office
Condition
-
Available
Now

11th Fl-Ste 1122

Size
1,669 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

12th Fl-Ste 1218

Size
2,048 SF
Space Use
Office
Condition
-
Available
Now

12th Fl-Ste 1220

Size
1,517 SF
Space Use
Office
Condition
-
Available
Now

14th Fl-Ste 1400

Size
14,719 SF
Space Use
Office
Condition
-
Available
Now

15th Fl-Ste 1500

Size
14,719 SF
Space Use
Office
Condition
-
Available
Now

16th Fl-Ste 1600

Size
14,719 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now
Walk Score®
Walker's Paradise (94)

PROPERTY TAXES

  • Listing ID: 33334709

  • Date on Market: 9/27/2024

  • Last Updated:

  • Address: 111 W Monroe St, Phoenix, AZ 85003