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Northrop Grumman 1655 E Elliot Rd

119,177 SF 4-Star Office Building Gilbert, AZ 85233 $56,671,000 ($476/SF) 6.25% Cap Rate

Office Space Arizona Gilbert 1655 E Elliot Rd, Gilbert, AZ 85233

INVESTMENT HIGHLIGHTS

  • Industry-Leading Tenant
  • New Long-Term NNN Lease with Annual Increases
  • Strategic Location / Synergistic Facility
  • Investment-Grade Parent Company
  • Newly Constructed Institutional Quality Build-to-Suit
  • Significant Tenant Investment

EXECUTIVE SUMMARY

Northmarq is pleased to exclusively offer for sale to qualified investors, the opportunity to purchase a brand new ± 119,177 SF office building located in Gilbert (Phoenix), Arizona, 100% leased to Northrop Grumman Systems Corporation under a 12-year, 4-month lease that commenced in September 2024. Rent commenced in January 2025, and the Tenant is expected to fully occupy the Property in July 2025, after completing all interior build-out and improvements valued over $30.7 million.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Office
Building Size
119,177 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2025
Price
$56,671,000
Price Per SF
$476
Cap Rate
6.25%
NOI
$3,541,940
Tenancy
Single
Building Height
1 Story
Typical Floor Size
119,177 SF
Building FAR
0.29
Lot Size
9.41 AC
Zoning
CC - Community Commercial

AMENITIES

  • Air Conditioning

LINKS

1 of 1

PROPERTY TAXES

Parcel Number 302-35-545 Improvements Assessment $0
Land Assessment $234,041 Total Assessment $234,041

PROPERTY TAXES

Parcel Number
302-35-545
Land Assessment
$234,041
Improvements Assessment
$0
Total Assessment
$234,041
(773) 727-4285

CONTACT

  • Listing ID: 34728429

  • Date on Market: 2/5/2025

  • Last Updated:

  • Address: 1655 E Elliot Rd, Gilbert, AZ 85233

More public record information on 1655 E Elliot Rd, Gilbert, AZ 85233

The The Islands Office Property at 1655 E Elliot Rd, Gilbert, AZ 85233 is currently available. Contact Northmarq for more information.

OFFICE PROPERTIES IN NEARBY NEIGHBORHOODS

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Northrop Grumman | 1655 E Elliot Rd
(773) 727-4285 x

Northrop Grumman | 1655 E Elliot Rd

BJ Feller

(773) 727-4285

(773) 727-4285

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