Thunderbird 101 Office Park

INVESTMENT HIGHLIGHTS
BEST-IN-MARKET TROPHY OFFICE WITH A VALUE-ADD OPPORTUNITY
* Built in 2005, the twin multi-tenant office buildings provide a plethora amount of adaptable space and are poised to meet the diverse needs of businesses, from emerging startups to established entities looking for a distinguished location.

* Situated for optimal access to AZ Loop 101 at Thunderbird Road & 83rd Ave, Thunderbird 101 enjoys prime visibility, ease of access, representing a critical factor for tenant satisfaction and retention. Additional value creation can be delivered via a freeway billboard or building signage.

* In-place rents are ±15% below market, with ±2.2 years of average remaining lease term. This, combined with existing vacancies, provide new ownership to potentially double NOI by year 4 of the hold period.

DYNAMIC MARKET ENVIRONMENT WITH ROBUST GROWTH
* The commercial office market in Peoria, AZ, is positioned in one of the most dynamic growth areas within Maricopa County, the fastest-growing county in the United States from 2020 to 2023. This unparalleled growth trajectory is mirrored in the West Valley region, home to over 1.8 million people and projected to expand at twice the national rate over the next five years.

* Comparing the competitive set along the 83rd Avenue corridor, Thunderbird 101’s current in-place rents average approximately $26.05 PSF which is 20% lower, therefore, providing an enormous amount of upside.

* The Arrowhead submarket has a vacancy of 14.95%, 6th out of 25 submarkets in Arizona and represents an outstanding five-year occupancy history of over 88%. There are zero buildings in the submarket which have more than 25,000 SF of vacancy, highlighting the submarket’s stability.

FAVORABLE AREA DYNAMICS SUPPORTING INVESTMENT VIABILITY
* The Peoria/Arrowhead area exhibits strong demographic and economic growth, with a dynamic blend of exceptional residential communities which attract new residents based upon leisure developments, high quality homes, and fantastic recreational amenities.

* With a demographic profile marked by significant high-income households, Peoria provides a robust consumer base and skilled workforce, beneficial for businesses and investors.

* The presence of luxury and affordable homes caters to a wide demographic, from executives to first-time homebuyers, enriching the area’s vibrancy appeal which will undoubtedly have a positive impact on all aspects of the commercial real estate landscape.